DislikedIf you read James16 thread he shows that a breakout also can come in one of these situations:
1) in a downtrend, if the current bar has an equal low with the previous bar and a high that is lower than the previous bar's high, then if we go below the low its also a breakout. This is called Two Matching Low Trend Breakout or TMLTB, and this is similar to the IB breakout. If it's in an uptrend then its a TMH(High)TB. I would place a buy/sell and SL at the high/low of the last bar similar to the IB. Here is an example with Cable. Also look as the Cable is forming a pennant as well.Ignored
thanks