I do not yet trade breakouts, but this is a classic setup. Break against an extreme (notice volume profile valley where that happens), confirm against new Mirror level, and take off. This is what an idea intraday breakout chart looks like. PLTR is doing its morning swing again, slightly earlier…
I saw this coming 10 minutes before it happened, and still didn't enter because I have no idea how to enter on break when level is constantly violated. Should I enter on the other side of the foot? (bottom of the pressure channel?)…
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'…