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privatepizza111

Consolidation Breakout: Impulse and Continuation

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S&P 500 Index (SP:SPX)  
privatepizza111  
SP:SPX   S&P 500 Index
Trend Analysis Chart Patterns impulse retracement breakouts continuation
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trendanalysis chartpattern impulse retracement breakouts continuation
Consolidations are range bound.
The rules for a breakout (impulse) is to retrace it to confirm the exit, and then strike the low signaling the continuation...the beginning of a trend.

Notice the red arrow.

The impulse exited a range of a trending zone, but the retrace failed and there wasn't a continuation.
That is why to wait to strike bullish reversal....
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