Category:BOT

Breakout Test, which is a pullback testing the breakout point, and traders are deciding if the breakout will succeed or fail.

BOT bar(s) need to be strong

BOT with gap is strength

If the pullback failed to reach the BO point and reversed strongly (see bar 14 and 35 on 20231023 below for bull case example), especially reversed from MSR, the result is a gap and more likely the BO is successful.

20231023

BOT at MA is strength

"When a BOT happens to have its low exactly(or not too far) at the EMA, its a very good sign to add on a bit more if the bar is not too large"^[1], e.g. 20110105 b19.