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Beat the Street: A Trader's Guide to Consistently Scoring in the Markets by Adrian Manz

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Chapter 4. Expansion of Range and Volume

WHEN I STARTED my trading career, breakouts on expanded range were so common that all a trader had to do was get up in the morning, buy the continuation move a few pennies above the previous day’s high, wait a few minutes and count the money. Unfortunately, those days are over – but breakouts will always be part of trading. The key to capturing profits from breakouts is in identifying which moves are real, and which will be added to the seemingly endless list of failed patterns. The expansion-of-range-and-volume pattern identifies the breakouts that have all the ingredients to fuel a substantial continuation move, while eliminating most of the trades that would unnecessarily churn an account.

The long ...

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