Humble1

Ant, "My intention for the trade was to try to catch the low of the day" I never get the LOD, sot I stopped trying. Emotions do have a way of clouding judgment.

What was the ATR reading? Were you picking a bottom? OR trend trading?

this is what I am talking about....yes, there are other patterns with targets yet to be reached.

I'll post some charts on this, but for now, last week, ER2 [R2K mini] failed an ascending triangle on the 60 minute chart. Something very definite happened right after the breakout to setup the bearish tone. See if any of you can pick it out.

This is good. Makes sense. Most breakouts will only retrace 40 to 50% of the initial move, if they retrace at all. Other will form a high tight flag just above the breakout, and then move fast. Volume needs to expand slightly to confirm the breakout. It also pays to know where major support and resistance is before hand... gaps that have never been tested have a high odds of stopping breakouts. Good stuff. thanks.

So how does one determine [objectively] when a breakout fails? I have not seen this answered yet.