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Can all Breakouts be classified into one of the following 3 categories?
- Major Surprise
- Minor Surprise
- BTC/STC
I am curious to know that too, surprise bars for me so far has been those that are about x3 or more of the current day ATR in the context where it actually changes the context ... 😮 we all know about give up bars, exhaustion bars ... but those that "trap" (aka surprise) bars ..
Could be all wrong
I could be wrong, but my 2 cents is that ALL breakouts can be classified into one of those 3 categories. Anything XL/Climactic/Dominant Feature is Major. Anything medium is Minor. And a series of smaller/medium can be BTC/STC. What else is there?
Update
4 types of Surprises:
- Give-Up Bars
- Breakout *
- Reversal *
- Exhaustion
*note- a reversal is a breakout
3 Sizes of Surprises:
- Major Surprise(s)
- Minor Surprise Bar(s)
- Series of Smaller Bars
BTC/STC is an way to enter breakouts/reversals. Minimum requirement is 2+ Minor Surprise or Series of Smaller.
Experts, is this accurate and does this cover everything?
thanks
Hey w,
Don't count me as an expert but it doesn't matter what you call a BO, because any trend bar is a BO anyway.
There are also weak BOs which start, well, weak as in bad follow-through and overlapping bars. Instead of a spike, you get a channel right from the start of the BO. This can happen on trending TR days and the BO from a TR (to the next TR) can happen weakly like this.
Other than this, your list looks complete, though I would add "Climax" too to be explicitly clear.