Statusopdatering!
Many traders rely on breakouts of support and resistance levels. However, the market often tricks them with a fake breakout, then reverses in the opposite direction. This strategy aims to capitalize on those fakeouts.
Strategy Details:
.....Tools Required:....
Highly liquid forex pair (EUR/USD, GBP/USD)
Timeframe: 15-minute or 1-hour charts
Only two indicators:
RSI (14)
Simple Moving Average (SMA 20)
Manually drawn support and resistance zones
.....Conditions for Entering a Sell Trade (After a Fake Breakout Above Resistance):
1-Price breaks above a strong resistance zone then quickly returns inside.
2-A reversal candlestick appears after the breakout (e.g., Pin Bar or Engulfing candle).
3-RSI shows overbought conditions (above 70).
4-Price crosses below the SMA 20.
..... Entry: After the confirmation candle closes
..... Target: 2x the stop loss distance (risk-to-reward = 1:2)
..... Stop loss: Above the fake breakout candle by 5–10 pips
.....Conditions for Entering a Buy Trade (After a Fake Breakout Below Support):
Same as above, but inverted:
1-Fake break below a support zone
2-Bullish reversal candlestick
3-RSI below 30 (oversold)
4-Price crosses above SMA 20
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