Hi, I usually scan for these type of setups. Do you use any other data points to confirm your bias other than price action. I often get fake breakout, is there any way around it.
vanathi
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@premit88, I use set of trading rules known as "Vanathi waves" to avoid fake break out.
premit88
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@vanathi, Can you please tell me about it. I have been working on an excel sheet which scans horizontal congestion for me, but some of them gives really good breakout while others just makes noise, I am unable to pinpoint breakout stock from them.