A short breakout occurred a couple of hours ago on the NZDUSD. It is still a good opportunity if it goes back up a little bit. Remember to always follow your strategy!
hey man can u explain why do you see here a short breakout and what do you see on your indicators as well?
a.b
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@robi123, sure. For this kind of idea I look for three situations happening at the same time
1. Price breaks nice consolidation
2. Breakout Pivotal Bars confirms the break (green bar for long, red bar for short)
3. Sentiment Index breaks (or about to break) as well
OR
Sentiment Index diverging/loosing strength (for example, price decreasing but negative Sentiment Index increasing)
Vijay_K
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@a.b, hi. I have subscribed for sentiment index indicator. i also want to subscribe to Breakout Pivotal Bars. I wanted to ask that will the trendlines occur automatically with the breakout pivotal bars?
a.b
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@Vijay_K, Nope, automatic trend lines are not currently available on TradingView so they are not available in the indicator as well. You should highlight the consolidations yourself like I do on my charts. Just have a look at consolidation patterns like flags, triangles, etc... they happen every time as you can see from the charts.