[Soultrader]

I actually like the idea of a volume line chart and will add it on my charts to see how it goes.

This octant concept is new to me and I have trouble grasping. I may need to look into the Cisco-Futures course.

After reading the posts here, I spent some time thinking about breakout patterns and strategies to play them before they happen. One problem I have relying on volume when playing breakouts is that the breakout bar (tall green candle) occurs on high volume. Wouldn't this be a late entry because you are entering after a volume confirmation?

The concept of having a long bias if price is trading above the HVN is a similar concept when using pivot points. Traders hold a bias towards the long side when price is above the daily pivot or PP. Some traders base their pivot on the opening price as well.

I do feel comfortable applying time into a breakout strategy. If price is hugging the upper or lower bracket for some time, this could be a good signal for a breakout. However, I will need to create a stricter rule for this setup. Some people use a combination of bollinger bands and keltner channels to anticipate breakouts as well.

This topic has become fairly interesting... and I will try to research more on breakout patterns. This is a trading setup that can offer a tremendous edge when mastered because by getting in early, you can completely eliminate risk at the moment of the breakout. The first breakout bar tend to be quick and fast. Therefore, I would like to be in the trade beforehand to cut a portion of my position loose at this first bar.