Any way to predict that breakout will occur on 1 min chart?
Just wanted to know if anyone knows a way to predict when a breakout is about to occur.
I would imagine it's very difficult to chase breakouts in the 1M becuase you will get a lot of false movements before the underliing trend appears.
However I guess, once you have the general trend direction from the larger time frames, 5M/15M -- I would use MACD Histogram divergence along with some sort of volatility indicator also Stochastic would be helpful.
I found that volatility greatly increases right before a major price movement, eventhough the price doesn't move at all. When volatility increases and price does not, look for a breakout to occur. Use MACD Histogram divergence to confirm with Stochastic on direction and strength. If it is the same on all timeframes you will have a stronger breakout.
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Just wanted to know if anyone knows a way to predict when a breakout is about to occur.