Weak Breakout – Bearish

Developed at Definedge.

A weak breakout is a P&F bullish reversal pattern.

1. After the double top buy pattern, the price did not move more than two boxes
2. Negative column reversal

The price did not move up significantly after the double top buy pattern was formed. As a rule of thumb, if price did not rise by more than 2 boxes above the previous high, and turned to a column of ‘O’ – there is a bearish weak breakout pattern.

A bearish weak breakout represents a reversal of the trend or a bearish pullback.

Click here to learn more about the pattern.

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.