Weak Breakout – bullish

Developed at Definedge.

Bullish Weak breakout is a bullish Renko reversal pattern.

When the price forms a bearish swing breakout (A), but fails to record more than two bearish bricks thereafter (B), and instead again turns back above the swing breakout brick (C) , it is a bullish weak breakout pattern.

It offers a bullish reversal trade opportunity with the affordable risk.

Prashant Shah introduced this pattern in his book on Renko charts.

Click here to know more about the pattern.

This pattern can be plotted on the chart by adding it from the study menu in TradePoint & 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.

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