Hi folks:
Read whole thread couple of times, confused about two things.
1) A candle is a breakout when it breaks box by 1 pip, even if it closes back inside the box, correct? Pretty sure about this by would appreciate confirmation.
2) Retracement candle: We wait till the close. If breakout candle is long, a candle is considered retracement if it closes below the high of the breakout candle, even if the retracement candle might also be a positive candle, as long as the close is lower than any part of the breakout or the close of the breakout?
My confusion comes when the breakout candle is long and the retracement candle is also long, but lower then the breakout, thanks for all your help.
Jim
Read whole thread couple of times, confused about two things.
1) A candle is a breakout when it breaks box by 1 pip, even if it closes back inside the box, correct? Pretty sure about this by would appreciate confirmation.
2) Retracement candle: We wait till the close. If breakout candle is long, a candle is considered retracement if it closes below the high of the breakout candle, even if the retracement candle might also be a positive candle, as long as the close is lower than any part of the breakout or the close of the breakout?
My confusion comes when the breakout candle is long and the retracement candle is also long, but lower then the breakout, thanks for all your help.
Jim