Ramesh’s Reviews > How to See a Breakout, before it really happens: Breakout Signals in Descending Channels > Status Update

Signal 1 - Price Swing Failure - Moderate success
Signal 2 - RSI Cycle Failure - Moderate success
Signal 3 - Double Breakouts - High success
Signal 4 - RSI Divergence - High success
Use just the last one but watch out for others too
RSI Div - Price makes a fresh low, RSI does not make a low.
PRICE IS GOING LOW RSI IS GOING HIGH

Use Volume and RSI for determining trend reversal.
Common candlestick signals of identifying an impending breakout
Morning Star - First day is bearish, second day, stock gaps down 3rd day stock gives a green candle on Gap UP - is important
Abandoned Baby - Resembles morning star bu second candle is far below with small body
Doji Star - Similar to prev but with same open and close
Dragon fly - Long tail

Always ensure the weekly channel's RSI confirms the breakout is real and sustainable.

Price forecasting by Fibonacci levels 38.2% - Shallow correction,
50% - solid bearish correction
61.8% - deeply bearish correction