[GeorgeM]

The weekly close is used for confirmation of the Stage 2A breakout, and you would exit immediately if it didn't meet that requirement.

Great point about using the weekly close as a confirmation of break out... I've had a couple entries where it broke out during the week, but closed the week below the breakout point. I should have exited at that point and would have saved myself some pain if I had.

Thanks for the reminder.

If you buy in the day of the breakout and then you wait for a weekly close above resistance and it is negative, you sell immediately with a small loss, let's say 5%. The question is how much higher do you buy, if you buy after a weekly close above resistance instead of a daily close ? You buy higher maybe 5 %, so you have a wider stop. But the chance of stop being hit is smaller and the winners vs losers increases so you maybe make out that 5 % higher price. If you are going after a big move, maybe 5 % is not such a big price to pay for having evidence that the move is strong enough. I am not sure about this myself, just speculating....