2 Days Breakout Trading

This is another great strategy which allows you to find great intraday opportunities. It has a good profit-loss ratio and, this way, if you use good money management rules you can achieve consistent results. To use the 2 Days Breakout strategy, the Awesome indicator is, once again, the best confirmation indicator to use. You can use this strategy in any timeframe you like. This strategy works well on 15 and 30 minutes, and even on 1 hour charts. So, feel free to try this strategy in your
favourite timeframe. You can also use it for any currency pair you like.
The rules 2 Days Breakout:
Buy 1 pip above yesterday’s high or short sell 1 pip below yesterday’s low. Place a stop loss of 20 pips.
Exit the trade if the Awesome indicator gives you an exit signal or if your stop loss is reached.
Let’s take a look at some real trades using this strategy:
2 Days Breakout
Entry: Buy GBP/USD at 1.7587
Stop Loss: 1.7567
Exit: 1.7693
Profit: 106 pips
The horizontal line in the chart represents GBP/USD yesterday’s high. According to this strategy, you should buy one pip above the previous high, at 1.7587. Don’t forget to place your protective stop loss order of 20 pips below the entry point. As you can see, according to the chart, the Awesome indicator is gaining strength. Notice that when you enter the trade, it continues to move up, as well as the price. This is a terrific sign. The Awesome indicator is what you should observe since you will close the trade once this indicator gives you the exit signal. As you can see, the Awesome indicator turns red at 1.7693, telling you that bears are gaining strength. So, it is time to exit at 1.7693. This was a great trade, with 106 pips profit in just 3 hours of work. With just a single currency pair, you would have won $1060. Always remember to place your stop loss in the platform when you give the entry order. This is what will keep you in the game if something goes wrong.
2 Days Breakout
Entry: Buy GBP/USD at 1.8696
Stop Loss: 1.8676
Exit: 1.8829
Profit: 133 pips
In this chart, the horizontal line at 1.8695 is the previous day high. According to this strategy, you should enter your buy order one pip above this price. As you can see, the Awesome indicator was bullish too, which means that there were no doubts about entering the trade. Do not forget to enter a
stop loss order 20 pips below the entry point. You can define another stop loss value but always insert your stop loss order. When, some minutes later, you start to see that the Awesome indicator is turning red, be cautious; don’t get greedy. Take your profits out of the table. Exit the trade at
1.8829. Again, this was a great profit for just two hours of work. 133 pips mean a profit of $1330 if you trade a single currency pair.
2 Days Breakout
Entry: Short GBP/USD at 1.8261
Stop Loss: 1.8281
Exit: 1.8217
Profit: 44 pips
This is another GBP/USD 15 minutes chart. The line is drawn 1 pip below yesterday’s low; so, this is our entry point for a short position. If you use this strategy, always draw yesterday’s high and
yesterday’s low lines on the chart. It is much easier when you have those lines on the screen instead of only numbers on your head or in a paper. As you can see in the chart, you have an opportunity to
enter in a short sell at 1.8261 – one pip below the previous day low. You will ride the trade until the Awesome indicator gives you a signal to leave or until your stop loss has been reached. In this trade, you should exit your position at1.8217, for a 44 pips profit, when the Awesome indicatorturned green, which was a clear exit signal.
2 Days Breakout
Entry: Short EUR/USD at 1.2926
Stop Loss: 1.2946
Exit: 1.2835
Profit: 91 pips
As you can see in this EUR/USD 30 minutes chart, there is a good opportunity to make a trade. We will enter in the short sell one pip below the horizontal line – at 1.2926. As soon as the Awesome indicator turns green it’s time to exit this position. In this case, the exit signal was at 1.2835, giving you 91 pips profit. This trade also shows you that this strategy works fine in 30 minutes charts as well.
2 Days Breakout
Entry: Short EUR/USD at 1.2015
Stop Loss: 1.2035
Exit: 1.1945
Profit: 70 pips
This is another great short sell opportunity. Looking at this EUR/USD chart, our short sell order will be one pip below the previous day low, exactly at 1.2015. When the Awesome indicator turns green, it is time to exit your trade. This happened at 1.1945. As you can see in all these examples, you can find great long and short sell opportunities with this strategy. Trade both sides of the market. If your strategy gives you a signal one way or the other, you have a good opportunity to make money.

Related

Breakout Forex Strategies 4794167914649512197

Post a Comment

emo-but-icon

item