What is the Breakaway gap?
It occurs when the price goes above the resistance or below the support. It changes price direction from the existing chart pattern.
Here, there was a price trend for 1 month where prices were trading in the ascending parallel channel.
But on the 13th of June, it changed its direction.
Impact of Breakaway gap?
It creates a strong...
Gaps can offer evidence that something important has happened to the fundamentals or the psychology of the crowd that accompanies this market movement.
Gaps can be subdivided into four basic categories:
• Common gap
• Breakaway gap
• Runaway/ Continuation gap