Breakouts are single sided movement exhibited by stocks, index etc; A breakout can be from a Trading range, a Pattern, or from Price Action. Today in Banks we had a Trading Range breakout. When a Breakout happens from a Trading range we take the width of the Trading range and project upwards for target zone. You can see the below image where the Range is marked. The upside target was 200 points.

How do we utilize this View ?

The second bar was a clear breakout bar, but if we are to buy above the Breakout bar the Stop loss has to go to the low of the day , giving poor Risk Reward Scenario. So thats not useful in real trades and Breakout from a Trading range can fail. So we wait for the follow thru bar which was good. Now we look to enter using price action. The view is strong up. We wait for Reversal bar to occur ( 6th bar) and we take a failed breakout of that bar, the Sl goes below the failed area and the RR is 2 times the Stop loss now. Exit was the Trading range breakout target zone. 

This is an example of Basic Price action, I teach Advanced Price action one to one with Live Market Mentoring upto 6 months. Incase you are interested, do feel free to call / watsapp @ 7373339777 to Discuss how it can be useful to you. 

Happy Trading and Learning !!!

Cheers !!!