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The affordable bullish breakout is a method to identify low-risk bullish breakout trades
The pattern shows a bullish breakout after a shallow retracement. Users can change the number of boxes in the retracement column according to their risk appetite.
This is a bullish breakout pattern. If you run the scanner with this pattern, only candidates triggering bullish breakouts that match your risk appetite will be displayed.
Prashant Shah explains it in his book on P&F charts.
This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.