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GBP/USD London Breakout ScalpLearning to scalp the London market open in any time frame takes practice. You need a solid strategy that you have back-tested thoroughly before testing on a live market. Using this 15-minute scalping strategy requires the same testing and patience. A resistance zone has formed around the 1.88 price point. This resistance zone was formed during the Asian trading session. So, Ideally, we like to see if we can catch a breakout from this range when the London market opens. If the opening candle itself breaks above the previous resistance, this does not always represent a true breakout. It could sometimes be a fakeout. As you can see, the price broke out of this trading zone as soon as the London session opened up. However, in that 15-minute candle, we saw the price retrace back into the zone and turn into a large bearish candle with a massive wick on top. This would indicate a fakeout on the lower time frames. The bulls were all stopped. This is why we must be careful and wait for confirmation of a true breakout. This is why I use a simple moving average to help confirm a breakout candle. The moving average I use helps me with my entries. I like to see the breakout candle begin on top of the moving average and then I like to see the breakout candle close very close to its high or low. Once I see that this helps confirm my entry. My target for scalping a London market breakout is always around a one to two risk to reward. On this particular date in November, we can see that the pound has been regaining strength against the US Dollar. On the higher time frames, we are moving upwards. In fact, on the daily time frame, we can see we have finally broken the giant descending trend line that has kept the price below it for the greater part of this year. So, we should always make sure we are trading on the right side of the market. Use a higher time frame bias to confirm your market bias. If the market is bullish and trending upwards, wait for opportunities to go long. Conversely, if the market is bearish, wait for opportunities to go short. Practicing a strategy like this provides you with one of the greatest skills a trader can have in their bag of tools – patience. Do not just jump into the market when you see a breakout. Make sure all your criteria are met. If your criteria aren’t met for an entry, then watch and wait. Setup alerts, make sure you only enter when your entry signal is beaming. You need to be able to see your entry so clearly. This means you won't get entries all day every day. With this particular strategy, I may only have a few entries per week. This is perfectly fine and in fact, I like it. It helps me become a better trader. The Vortex Trader
Long
by TheVortexTrader
3
INTRADAY ASIAN PAINTS IN 15MIN TF31/10/2022 LONG SIDE INTRADAY(15MIN) ASIANPAINTS Triangle Pattern breakout in 15 min tf overall stock is BEARISH consolidation near pattern breakout in 5 min tf give breakout of that consolidation in 5min tf formed maurbozu but in 15 min tf it is a shooting star like candle looks like retested in 5 min tf needed a bullish candle formation for confirmation of the trade. ENTRY-3054 SL-3042 TARGET 1-3072.30 TARGET 2-3113 IF PERFECT GREEN CANDLE CLOSED ABOVE 3072.30 R:R-1:1;1:4 MOVE-2.1%(FOR THE SECOND TARGET)
NSE:ASIANPAINTLong
by stock_stalkist
DAX 40 - 123 Breakout Strategy SetupToday we are trading the DAX 40 (DE40) in the 15-minute time frame. We are using the strategy that I have titled “1 2 3 Break-out Strategy” In previous videos and posts, I have explained exactly what to look for regarding the criteria and the setups that need to be in play for us to determine the correct entry, stop loss and take profit targets. I have also explained that we use the London session primarily to find our entry. Please note that If we do not find an entry in the London session, we then keep our eyes on the chart throughout the day as sometimes the entry can come a little later, and in some cases we even see it happen during the New York market trading session. This strategy uses a previous range that was set either in the previous day's Asian trading market session or if the price was trapped in a trading range for longer, we use that range as our points of interest. It does not matter how long the price is trapped inside of a range because this strategy is simply a breakout strategy. So we have to make sure our range is determined before we can spot our break out. Now, what is important to note is that ranges do not need to have support zones and resistance zones perfectly horizontal. We can have all types of Support / Resistance zones. Sometimes these zones work at different angles. As long we can see price respecting these zones and bouncing off of them for a minimum of two taps. I have called the strategy the 1 2 3 Break out strategy because I believe the best setups occur when we see three taps before the breakout. In the video below, you will see how I explain this. Trading is very subjective and it is easy to make our eyes see exactly what we want. We can make any zone on the chart have multiple taps, but the trick is to use the correct levels where, with an objective view, we can see that the price has indeed bounced off of these zones. The breakout candle should never be larger than 100 pips. I always like to make sure it's less than 90. My entry was at the price point of 12485.0 My stop Loss is 12580.7 My Take profit is 12321.4 Hope you all have a good weekend. The Vortex Trader
PEPPERSTONE:GER40Short
by TheVortexTrader
DAX 40 - 123 Break-out Strategy EntryToday we are trading the DAX 40 (DE40) in the 15-minute time frame. We are using the strategy that I have titled “ 1 2 3 Break-out Strategy” In previous videos and posts, I have explained exactly what to look for regarding the criteria and the setups that need to be in play for us to determine the correct entry, stop loss and take profit targets. I have also explained that we use the London session primarily to find our entry. Please note that If we do not find an entry in the London session, we then keep our eyes on the chart throughout the day as sometimes the entry can come a little later, and in some cases we even see it happen during the New York market trading session. This strategy uses a previous range that was set either in the previous day's Asian trading market session or if the price was trapped in a trading range for longer, we use that range as our points of interest. It does not matter how long the price is trapped inside of a range because this strategy is simply a breakout strategy. So we have to make sure our range is determined before we can spot our break out. Now, what is important to note is that ranges do not need to have support zones and resistance zones perfectly horizontal. We can have all types of Support / Resistance zones. Sometimes these zones work at different angles. As long we can see price respecting these zones and bouncing off of them for a minimum of two taps. I have called the strategy the 1 2 3 Break out strategy because I believe the best setups occur when we see three taps before the breakout. Trading is very subjective and it is easy to make our eyes see exactly what we want. We can make any zone on the chart have multiple taps, but the trick is to use the correct levels where, with an objective view, we can see that the price has indeed bounced off of these zones. The breakout candle should never be larger than 100 pips. I always like to make sure it's less than 90. My entry was at the price point of 12485.0 My stop Loss is 12580.7 My Take profit is 12321.4 Hope you all have a good weekend. The Vortex Trader
PEPPERSTONE:GER40Short
by TheVortexTrader