Marking a breakout only after the daily close
On this desk a breakout is a close outside a range you already drew. The wick that pokes through at lunch is not the mark.
Journal
Notes from the chart room.
Short pieces on how the desk marks a breakout, a pullback, and a reversal. They follow the same rules we use on Thursday.
A pullback is measured from the prior swing
The first dip after a breakout is often just the market breathing. The pullback we study has a place to return to.
Reversal candles on a thin session
A handsome turning candle after a long run is not a reversal until the session itself had some weight.