[isatrader]

Actually the reasons are quite different.

The stock I spotted early last week was late as my data feed had issues which I failed to spot. The last one we discussed I was late, pure and simple. I wavered on whether to flag it. With hindsight should have not mentioned it.

This one is quite interesting and may be indicative of my performance to date. I think this hinges on what we define the breakout level to be. I've re-checked the book and it may be hidden in the detail but it does not obviously state whether close or high prices should be used as breakout levels.

I attach my chart, with two breakout levels based on Sept '16 shown. One level, the one I based my post on, was 9.88, the Sept '16 high (8 Sept 16), which meant the breakout was today. This is the one I considered. I've drawn a lower one in at about 9.36 which was close of the same day. 9.36 was hit today, not yesterday.


However, are you looking at a breakout at about 9.1 which is from a trend-line ignoring the Sept 16 high? I've used your chart but annotated it, see below. That one would have been broken through Friday.

I've picked out the breakout level of 9.88 in light blue. It is quote different.

So the crux of the argument is which to use as the breakout level? This could be quite a significant discussion.

How I was judging it was on the 3 month closing price made on Friday at 9.30, as the October high was 9.28 according to the stockcharts chart. So the reason I chose to ignore the September high and daily closing high, was that it was blow off move after a long Stage 2 run and actually had a strong down week on that week. So I believe the the last three month of tops, of which there were five were more significant for the initial continuation breakout level, and close above those five tops was the breakout level imo.

So technically yes, the September high is the main breakout level, but I believe it's a less significant one than the other slightly lower more recent highs for the entry point to watch for. As they are much more closely grouped.

See the attached 2% point and figure chart for a clearer example of what I mean as shows a clear view of the breakout level that formed over the last three months.