Following are some setups for an intraday compression breakout.
Entry/Stop (green/red inside box).
The setup is predicated on:
- Volatility contraction. I have a script scanning fir these intraday on 1m time scale in TC2000.
- Overall daily direction UP (longs)
- Global level breakout (as in the breakout you're targeting is also breaking level previously established as resistance on D timeframe). This rule can be relaxed, but it helps to filter for strong follow-throughs.
Level break, immediate support (1m), trend up for the rest of the day. 15x move if your R is low of 3 1m candles after 10:07, entry is slightly above.
Similar setup, entry would be 2 candles preceding breakout candle. R is box around them.
