Price Action: How to trade bullish breakaway pattern & bearish breakaw...

BO Turbo Trader Price Action Guide for Binary Options Trader PDF
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Indicators:
EMA 3 (blue)
EMA 20 (yellow)
EMA 50 (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)




If a trend has been evident, the breakaway pattern,whether bullish or bearish initially indicates the acceleration of that trend. The pattern starts with a long candle representing the current trend. The next candle gaps away from the long candle with the color of that candle the same as the long candle. The third day can be either color. The Bearish Breakaway is a five-line bearish reversal pattern introduced by Greg Morris as the counterpart of the Bullish Breakaway. Similarly as the bullish variant, there is a price gap formed between the first and the second line.

It will not show a change in the trend. The fourth day continues the trend, having the same color as the trend. The fifth day reverses the trend. It opens slightly opposite of the way the trend has been running. From there, it continues in the same direction to where it closes in the gap area. The fifth last line represents a trend break formed by a long black candle. The opening price is lower than the previous closing price, but the candle closes above the first line closing price, and the gap is not covered. The pattern requires confirmation and one of the following candle should close the price gap. This five candlestick pattern starts with a strong black candlestick. The next three days after the downside gap set consecutively lower prices.

The first white candlestick of the Bearish Breakaway should not be short. The last candle of the Bullish Breakaway offers exactly that confirmation. After the few days of deteriorating bearish trend, a clear bullish candle emerges. Bullish Breakaway candlestick chart analysis, Daily top lists, Candle charts, Free candlestick search, Email alerts, Portfolio tracker, Candlestick patterns.