Thanks Mirren - great points ! , I suspect that with breakouts , sometimes those support and resistance lines may be the boundaries of an accumulation range . And the pullback to support is also a pullback to the top of the accumulation range , and that's what makes it bullish . Leaving the accumulation range is where the price will go parabolic , as there is no longer any interest in keeping the price low . Having said that the parabolic rise is a rise that's purpose is to distribute. So it's a buy in order to sell at distribution.
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- Day Trader’s Weekend Aftermarket Lounge 24-26 July 2020
Day Trader’s Weekend Aftermarket Lounge 24-26 July 2020, page-109
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