We can predict the direction of the breakout with a cumulative indicator such as the OBV.
Here you see the OBV increase from the first high to the breakout candle, this proves significantly accurate.
so OBV rising can be used as another step for verifying the congruency of your prediction.
I have been back testing the On Balance Volume indicator (OBV). So far, so good. I did not publish my first test (Facebook), but will publish from here on.
OBV is basically an accumulation/distribution indicator. When there is divergence, it shows weakening/strengthening markets. If you are unfamiliar with OBV, look it up.
Here is what I found with Tesla:
OBV...
