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One Month Fake Breakout Stocks Strategy Scanner
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One Month Fake Breakout Stocks Strategy Scanner
This strategy identifies bearish reversal opportunities after a failed breakout above recent highs, signaling rejection of higher levels and potential downside continuation.
Strategy Description -
Scanner Conditions
- Price shows a fake breakout above the highest high of the last 20 ticks, followed by rejection, indicating failure at higher levels.
- Current tick volume is greater than the 20-tick average volume, confirming strong participation during the reversal.
- RSI (14) on close price is below 50, indicating bearish momentum and weakening bullish strength.
Additional Considerations
- Timeframe: Best suited for daily charts for swing trading setups.
- Volume Confirmation: Stronger reversals occur when breakout rejection is supported by higher-than-average volume.
- Trend Context: Avoid weak or sideways stocks where breakouts occur frequently without follow-through.
- Filter Stocks: Apply this strategy on liquid stocks for better reliability and cleaner signals.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.