False Breakout Strategies
Many times a false breakout, rally, or sell-off is more clear when you are able to interpret how the order flow is attempting to drive the market. Usually a false move (lacking conviction) will appear on the Footprint® chart with lightly shaded Footprints®, candy striped, a variation of color, or both. You will witness the breakout, but no volume comes in to confirm it and there is little participation on the part of the aggressive traders to keep the breakout alive.
Below are various snapshots annotating false breakout strategies and how they can be spotted and confirmed using the Footprint® chart.
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