Breakaway Technical Analysis Patterns

Bullish Breakaway Bearish Breakaway
A Breakway pattern indicates a trend running out of steam. When a trend is accelerated by a gap and then the next few candles continue in the direction of the trend with a noticeable slow-down, followed by a close below the previous 3 candles (indicating a sell sentiment) or a close above the previous 3 candles (indicating a buy sentiment), while the gap created by the first candle remains unfilled. Since the initial gap is unfilled and trend is fading, it suggests a reversal.
It is defined by a (1) candle followed by a candle which gaps above it (indicates a sell sentiment) or below it (indicates a buy sentiment), (2) followed by 2 candles with higher highs and higher lows (indicates a sell sentiment) or lower highs and lower lows (indicates a buy sentiment), (3) followed by a candle which closes inside the gap created by the 1st and 2nd candle.

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