A breakaway gap is a chart pattern in technical analysis that shows a big opening gap in price above the previous day’s closing price. The gap in price action on the chart is where no trading took place between buyers and sellers. A breakaway gap to the upside has to break above previous resistance while a breakaway gap to the downside has to break below the previous support. The price action in this pattern breaks away from the support or resistance zone in a chart via a gap on the next open instead of during intraday movement. To capture a breakaway gap a trader usually has to hold overnight or trade in the after ... (full story)