Breakaway candlestick pattern

Breakaway

Breakaway is a trend reversal candlestick pattern made up of 5 candles.

The bearish Breakaway: The 1st bar is long and bullish and continues the uptrend; The 2nd bar is bullish and gaps up from the 1st one; The 3rd and the 4th bars have consecutively higher Close prices, the 4th bar is necessarily bullish; The 5th bar is long and bearish; its Close price is in the gap between the 1st and the 2nd bars.

The bullish Breakaway: The 1st bar is long and bearish and continues the downtrend; The 2nd bar is bearish and gaps down from the 1st one; The 3rd and the 4th bars have consecutively lower Close prices, the 4th bar is necessarily bearish; The 5th bar is long and bullish; its Close price is in the gap between the 1st and the 2nd bars.

We use our proprietary data-mining algorithm to capture specific price movement and pattern performance.
Under certain circumstances, a Bullish pattern can also perform as a Bearish pattern, and a reversal pattern can be changed into a continuation pattern.

If you want to find out the performance of this pattern in real market, not in theory, our data mining results are your must have reference.

• Breakaway Pattern data mining result (2014 Daily, bearish)

• Breakaway Pattern data mining result (2014 Daily, bullish)

• Breakaway Pattern data mining result (2014 weekly)

The following pictures are taken from our Candlestick Pattern Indicator (Thinorswim version).