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Fade the breakout
Started Apr 15, 2021|Trading Journals|5 replies
I trade contrarian. The first step is to find a breakout... and wait for it to finish looking ...
USDJPY 8H 395 Order filled at 108.322 eta: 120x8H=40days
my target is 105.5 my outlook is 120 8H bars or 40Days cheers
1. Breakout completes period 410 2. Price retests low 3. Retracement to mean
price made new low but distribution failed to expand. perfect entry for new buyers
The breakout is completed with a max distribution of 305. Look for buy opportunities targeting 305ma at 1.1966
I trade contrarian. The first step is to find a breakout... and wait for it to finish looking ...
UC trade idea... go long: Buy [email protected] SL 1.212 TP 1.322 timeframe W period 80
UJ trade idea... go short: Sell [email protected] SL 112.150 TP 105.587 timeframe 8H period 395
Order types were updated depending on market behavior, else the DD would be minimum 30%. The setup was not static unfortunately management was involved
This tool is amazing. As a trader you must manage the inputs&strategy, but the execution it provides is flawless. With proper management one could be doubling accounts weekly. Here is my March 4 session with a max DD of 1.77%
Was retested with last step broken
That would my personal most appropriate time to sell. However...I like to be early ![]()
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Replying so I don't lose this thread again Good stuff-if this functions how I desire, should save me some coding time Thank you!