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FCPO 25 August 2021 : False Breakout or Inverse HnS1. Morning session price to breakout nearest resistance but failed with the 2nd CS close back inside the range. 2. 5min have reversal CS during the reversal CS. 3. Gann level 4324 consider a strong level as the price at 15min was rejected twice. 4. Notice at 15min chart the inverse Head & Shoulder pattern. 5. 15min price reject EMA14 for an uptrend. Strategy : 1. Trade fake breakout until nearest support. 2. If the afternoon session has a valid breakout upside, looking for continuation entry.
MYX:FCPO1!
by ArifHasbollah
2
FCPO Trading SchematicThere is 3 type of price reaction towards SnR i) Rejection ii) Breakout iii) False breakout How to trade (i) rejection @ M15? 1. Price close with reversal CS - long wick 2. M5 has engulfed at least 60% 3. Set Limit order near the neck of close M15 CS. How to trade (ii) breakout @ M15? 1. Price close outside the SnR 2. 2nd CS also close outside SnR 3. Entry after rejection @ M5 How to trade (iii) false breakout @ M15? 1. Price close outside SnR 2. 2nd CS close inside SnR 3. Immediate entry after 2nd CS close. 4. Usually the aftermath range is the biggest after price consolidation. Another addition entry is Rejection-continuation : 1. Always happen in strong trend as a pullback 2. CS rejection @ M15 3. CS engulf @ M5 4. Immediate entry after rejection CS close
MYX:FCPO1!Education
by ArifHasbollah
FCPO Trading Strategy for False Breakout and Valid BreakoutPrice downtrend continuation when new day price open inside the previous trading range. Valid breakout = trend continuation Therefore, we use 1min TF to look for entry. 1. Break market structure. 2. EMA 14,50,200 trend. 3. Stochastic 4. Reverse-retest 5. Stoploss 6. TP False breakout = reversal/rejection Use 15min to find entry 1. Entry after 2nd CS close back inside the zone 2. Stoploss 2xATR @1min chart. 3. TP opposite Support / Resistance.
MYX:FCPO1!Education
by ArifHasbollah
FCPO Identify Fake Breakout and How to Trade it?When the price is near the SnR it is where get it will get tricky...either the price want to continue the trend or reverse? The false breakout strategy : 1. Timeframe 15min 2. Identify strong valid SnR 3. Draw the zone by pick the wick and the neck. 4. If price breakout and 2nd CS close inside the zone, it is a false breakout and entry position after 2nd CS close. 5. TP for the false breakout can be the opposite SnR. Valid breakout strategy: Trend continuation 1. Use 15min and 1min chart for confirmation.
MYX:FCPO1!Education
by ArifHasbollah