TC2000 Breakout Failure Scan
The TC2000 breakout failure scan is a great way to spot short-term turning points and exhaustion signals in stocks that have rejected recent highs.
The TC2000 breakout failure scan is a great way to find stocks that have recently broken to new highs, failed to hold those highs, and are now reversing lower.
How does it work
This scan looks for stocks that made fresh new highs on the day but then gave up those gains and closed negative on the session. Inverted hammers, bearish engulfing bars, and outside reversal days — these are the types of candlestick patterns you will get with this scan.
The scan also includes a filter to make sure the stock is already in an established downtrend for added confidence in this short-term reversal signal. This is a bearish scan that is designed for the daily time-frame but it could be used on any interval.
- Purchase includes exact PCF code and setup instructions
- Purchase includes additional recommended scan criteria:
- Minimum daily volume
- Bullish trend filter
- Can be used on all versions of TC2000
- Can be combined with other criteria to improve accuracy
Any questions? Contact us.
Get a discount when you purchase this Breakout Failure Scan and its bull version equivalent in the Breakout Failure Scans Bundle package.