Most people are interested in trading breakouts. I am going to give you some basic Price Action guidelines for efficiently trading a breakout.

Firstly we need to understand that a Good Breakout happens at the time of market opening or within few early candles of market opening. So if a stock /index not breaking early then there is a less chance of a profitable move based on RR. This i am saying from 8 years of price action Backtesting.

These kind of early breakouts is called the First rally and after few consolidation during the mid afternoon , it will have a second rally in the same direction. the second rally starts by 2 pm. Early breakouts will have good Risk Reward. In late breakouts risk reward is very bad. 

  One way to filter Bad Breakout day is to understand how prices behave at yesterday high or low. We start with extending yesterday high low range into the current day and as long as prices are contained within the previous day range the chances of a profitable upmove is very rare. You can see this in the example below. So when prices are withing yesterdays range, dont trade breakout trades. Keep trading stress free and simple. You need to go for mean reversion strategies and fbo. I teach one to one price action with Live market Training. If interested call or watsapp in the below number.

As long as prices are contained within yesterday range you should not be Anticipating a Breakout.

To spot a intraday range breakout i have made a youtube video explaining the same. 

you can check the below mentioned link of the same

https://www.youtube.com/watch?v=xNs2_nWg-64&t=9s

To read more articles on price action you can click the below mentioned link 

http://www.technicaltrader615.com/price-action/technical-chart-analysis

I Teach one to One Advanced Price action course and Train traders for becoming Full time Traders , if you are interested call /watsapp at 7373339777 /8508777733

Happy learning and Trading !!!

Cheers !!!