IGL - How to avoid false breakout??

The stock is in a clear cut indication of consolidation. It has given some false breakouts.

How to avoid false breakout??

• No spike in volume
  
• Breakouts only happened after 3pm
  
• After gap up opening, it couldn't sustain above the levels
  
• Entry was not given by the stock as the price never crossed the high of the 15min breakout candle
  

When and where can entry be taken??

• Upside : once their is a volume spike after breakout, entry can be taken when the the price crosses the high of the 15min breakout candle
  
• Downside : once their is a volume spike after breakdown, entry can be taken when the the price crosses the low of the 15min breakout candle
  

Note:

• Avoid the stock if a big gap up or gap down is seen
  
• Enter after the breakout happens and not before it
  
• Do not chase the market, i.e., do not get involved in late entries
  
• Only enter with strict stop-loss and target
  
• This is not a recommendation and is for educational purposes only.
  
• always follow risk-reward and quantity management for the 100% of the times
  
• The above mentioned idea may not work, so beware of the risk you are taking
  

Follow me to Learn and Earn with me.
Happy Trading!!