I believe that is because the breakout has already occurred (below the line across the previous high), and price had to consolidate a bit , because the supply from the previous high was so close (making it a bit complex).
Price will usually draw out some increased supply when adjacent to the previous high (stale supply getting out usually), so when price pushes up through that level there is another bar that looks like a breakout bar. Except it is actually a secondary breakout bar, or the "breakout above the previous high".
If you zoom in and can't see the previous high anymore, and then just draw the chart from the data there is, it shows where the actual breakout is,
and you can see the increase in volume for the breakout (which is a tell tail of what is going on, and offers some confirmation of an effort - aka - a breakout).
can you see what I mean...... ??
cheers
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- Weekly Charting - 17th November 2017
I believe that is because the breakout has already occurred...
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