A good example of shakeout and then bullish breakout
1. Prior uptrend on Day TF with 200 SMA.
2. Sideways for arounf 3 weeks and have given decisive breakout today with higher volume
3. Note that after few days of sideways, it has dipped for couple of days. This is shakeout to eliminate weak buyers in the market. Hence, strong buy on today's breakout.
4. Buy above high of day candle and SL below the same candle (today).
5. Trail the profits with 9 EMA.
2. Sideways for arounf 3 weeks and have given decisive breakout today with higher volume
3. Note that after few days of sideways, it has dipped for couple of days. This is shakeout to eliminate weak buyers in the market. Hence, strong buy on today's breakout.
4. Buy above high of day candle and SL below the same candle (today).
5. Trail the profits with 9 EMA.
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