Article 15 Minute Break-out Strategy

chrislee

Newbie
3 2
Zafaralam, if you enjoyed the video, Phil has hundreds of such training videos on his site and his forum is second to none.

Anybody struggling in the forex game and serious about making it, I thoroughly recommend him.

And before anyone asks, no i'm not on commission ;) ......and i'm not Phil either :rolleyes:

Regards Chris
 

Chorlton

Established member
693 48
Newtron Bomb said:
what's the significance of the 7.00 time you mention towards the end of the soundtrack?

Just an arbitrary time 8am gmt is one ive used for a while. In fairness it can be flexible as with all aspects of TA but generally speaking i do not break it often an dif I do I'm only taking about 30ish minutes if there has been a well defined range during the Asian session.

Is there any particular significance of this being a EUR/JPY trade, or might you equally have chosen another currency pair?

This is a pattern that can be used on any market and any pair. There is nothing new to this it is just how I decide to trade it within forex.

Less important, I suspect, but I was curious about your 8,12,8 MACD histogram settings: can you comment on them?

Again nothing special here it is just a slightly faster setting. Currently I do not have macd on my main set of charts. I only used it for divergences in any case.

Hi Newtron,

Firstly, great video!! Very informative and helpful :)

I do however have one question. I understand that your target level (36 pips) is based on the current range but considering that you actually enter the trade roughly in the middle of the range then why is the target level maintained at 36pips?

Could you clarify this as I'm a tad confused....

Many Thanks,

Chorlton
 

neil

Legendary member
5,167 744
Plus - to see more Videos you might have to subscribe to his site - £30 monthly I believe?
 

JustaHunch

Newbie
3 0
An excellent post.

Hi NB, an excellent post. Many traders wait for a pullback after letting the market enter some kind of trend, in this example an intraday move. You illustrate this for people and then show them a clearly defined stop loss and target price. A simple great strategy.



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A moment's insight pays for years of endeavour!
 

Newtron Bomb

Experienced member
1,602 86
Hi Folks

Thanks for the notes :)

ITs a strat that has worked time and time again for me with clear set ups when they come.

Ive worked on some variations of the same strat with very interesting results too :)

Happy Trading Folks

NB
 

hunnybunny

Newbie
5 0
Yes, thanks very much for sharing your breakout strategy, Phil
 

Mikey75x

Newbie
3 0
Good video and, as a newbie, I followed most of it and the technical terms. However I don't understand how you arrived at 132.85 as the target for taking your profit? Where did you get that from?
 

aryanraj

Newbie
2 0
I can't understand it...can anyone make it clear for me....
i had a big loss in trading..
so please ................
contact id:vivekyuvi02@gmail.com