Everything has been explained thoroughly in the chart. If you have a comment related to price action/Fibs/Trendlines it will not be replied to. This is meant to be a tutorial for semi-systematic traders only.
I have hidden my Keltner channel indicator to reduce an already cluttered chart but it has a very important place in my trading system. I hope to explain it...
I wouldn't suggest anyone blindly take positions with me, I am just sharing my work. Investments are subject to market risk and this is not a trade recommendation.
This is a very aggressive buy so I may get stopped out. But I am experimenting.
I am a semi-systematic trader and my pattern scanners will more often than not look for the same patterns. After my MHRIL trade, this one is slightly different although the underlying principles remain the same. So every trade posted here will have nuances that must look out for in a breakout trade and I will try my best to explain them.
This tutorial is meant to simplify trading breakouts, avoid getting stop-probed, busting some myths and the logic behind breakout patterns. This is my first article any sort of feedback is welcome as long as it is civil.