Wyckoff trading method, page-1158

  1. 16,642 Posts.
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    Yeah, I saw what happened.
    Wednesday's bar was a breakout bar of sorts, and I know from experience there is a reasonable chance price would come back and test the strength of the breakout at some point in time (it probably happens about 65-75% of the time after a breakout.....and sometimes it is successful and price accelerates away after the test, and at other times the testing fails, and price either resumes in a sideways trading range, or it breaks down and starts a downtrend).
    I just hoped (for your sake) it would be in a few days time so you could get a bit more out of it.

    Keep watching it and see if you get another test for a second chance at it.

    I have the breakout line at either 98.5cps or $1.00, depending how you want to draw it, a nice low volume test bar at that level, may be worth it.

    rxp 171116.png

    cheers
 
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