Pip Rage's Breakout Method
1.Screen the majors for a pair which is trading under the 200 ema for the daily, 4hr and hourly.
2. If more than one pair qualifies, take pair with the greatest weekly percentage change in your favored direction.
3. trade the breakout of the 4 - 6am London time channel only in your favored direction with a 5 pip stop and a 30 pip limit.
4. If it stops you out, reset the order in it's original place. A maximum of 3 stop outs per session.
5. Trade the first fractal created by a retracement of successful breakout on a 15 min chart with the same stop but with a 50 pip limit.
6. Move the stop to break even as soon as it's 10 points in profit
1.Screen the majors for a pair which is trading under the 200 ema for the daily, 4hr and hourly.
2. If more than one pair qualifies, take pair with the greatest weekly percentage change in your favored direction.
3. trade the breakout of the 4 - 6am London time channel only in your favored direction with a 5 pip stop and a 30 pip limit.
4. If it stops you out, reset the order in it's original place. A maximum of 3 stop outs per session.
5. Trade the first fractal created by a retracement of successful breakout on a 15 min chart with the same stop but with a 50 pip limit.
6. Move the stop to break even as soon as it's 10 points in profit