BASICS BEHIND BREAKOUT OF SUPPORT/RESISTANCE LEVELS

My approach to breakout of support and resistance levels: On this chart we can see a support level that is broken and it clearly turns in to a reistance, not letting the price rise above it. At this point our objetive is to analyse and find a good entry, once the resistance is broken and retested means that it acts as support and we can expect the price to follow an uptrend. Always wait for the confirmation, a retest as that will give you a better idea if the price actually broke the resistance and it is not a false breakout. Let me know if you guys are interested on this kind of posts and I will be doing them every so often!