Quick guide on “Breakout Levels”

We all fall for it occasionally, but try to avoid taking a “breakout” trade the first time price tests your level. If you don’t absolutely love it, then wait for the retest.

If you see price reject that level 2 times, you now have a prime candidate for a breakout trade! These are the times I like to pull the trigger on the candle close over the level, rather than wait for that possible retest.

$iShares Russell 2000 ETF(IWM)$ with a perfect example of that today! 2 rejections at the Pre Market High gave us a great breakout trade to watch later on. Check the recap 👇

Usually the breakout level if we fall back below it. Or I use the 13ema on the 2 minute chart

Image

https://x.com/cs_tradess/status/1803127973014544406

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