Simple Price Action BREAKOUT STRATEGY That Will Change The Way You Trade

what's going on everybody welcome back to my youtube channel so for today's lesson we're going to go over a very very powerful breakout strategy now this strategy can be used on any time frame that you would like and for these sessions we're just going to be using one single time frame now i'm going to go over the rules for you in a minute on the screens but as of now i just want to say anybody who plans to trade this do not go live straight away make sure that you're back testing this putting in at least 100 trades and making sure that you are confident and have enough faith to execute these in the live markets just remember when you're back testing there's not as many emotions first for the majority as there are in the live markets and you don't really fully get to deal with the time constraints that you may in the live markets meaning entering a trade waiting for a trade managing a trade etc etc because of course when we're doing it on the back testing simulation we're able to press next bar and we're able to get through a lot more data but for today's lesson we're going to do a breakout strategy we're going to make it up on the spot we're going to use really tight risk management and we're going to see how it goes 10 trades let's roll the intro catch you on the other side all right everybody so let's just take a look at the quick strategy right now so the aim of this strategy is just to trade with the trends for those that have been following me you would have seen that i've done this many times before but this time we are going to be doing a breakout strategy so what we're going to be looking for is we're going to be looking for early signs of reversals so price failing to break structural lows looking for continuations to the upside or early signs of reversals we're also going to be looking for the market to show strong trends and then we're going to be looking for price to break previous structural lows or previous structural highs to then look for continuations and in terms of risk management what we're going to be doing today is we're going to be focusing on one to two risk to reward ratio simply because when you're taking a breakout trade you're missing quite a bit of the move at least one hour of it because you're not entering at the lower highs or the higher lows or at key levels so we're going to go for a one to two risk toward ratio trade and we're going to be taking 10 trades in total now the risk management management factors here is once price breaks previous structural low if price closes below that structure we'll hold our trade if on the breakout price breaks out and then the candle closes back in or back above the breakout area then we will be looking to put our stop loss to half or we'll be looking to close the trade simple risk management here and in total we will be taking 10 trades now this is going to be completely random so i want you all to take note of this this has not been planned and we're going to make sure that this is super random for all of you to see so let's head over to the pairs we have many many pairs here i'm going to look away into the camera and we're just going to go up and down for about 15 20 moves okay 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20. oh man so now we're going to be trading pound new zealand dollar oh we was already on pound new zealand let's not fix this let's do this again pick a random number between 1 and 20. let's go 15. one two three four five six seven eight nine ten eleven twelve thirteen that's referring the other way one two three four five six seven and eight the other way one two three four five six seven eight thirteen usd cad okay okay so we're on usd cad now actually i'm not even sure if he was on power new zealand before i'm really not sure i think it just landed there right so when i press the charts it music oh let's just do this one more random time okay let's just go for doesn't matter up down up down up down up down up down and i'm gonna make sure that the screen's on even though i'm looking at you so that you can see what we're doing here up down up down up down down down up hop up okay oh man all right new zealand switch frank let's go for this let's head over to the four hour chart let's crunch it up hey we got some old notes on here let's crunch it up let's bring the replay and let's do a random pic okay all right i kind of saw that so let's remove it and let's do this one more time so we scratched it up and around give it a three seconds or so to make sure the replay is gone and then oh man this is not going good guys all right okay this should work all right you know let's just pick somewhere random that should do come on okay oh wow man i've gone way back all right back to hourly time frame no let's trade this yeah on the hourly script all right cool so 10 trades that took its time but anyway we wanted to make sure that this was random and i guess this helps with the view time right anyway okay so let's use our lines here first things first i can see there's an uptrend in this market structure price is failing to break the structural highs here we have multiple wick rejections we have a structural level low strong momentum in a push phase so i'm not going to enter in a push phase could consider a cell on a break at this low here but i much prefer to see a break of this low here so at the moment there was no trade for me um in my opinion the reason for that is because if this is the exhaustion higher low then we expect the market to go up but if we break this we could continue down let's see if we do break this no okay so we'll just continue we do break this now now to be honest with you you know i do want to take this trade the only issue that we have here is that price does not have enough range to go break even for a one to one i reckon we'll have to wait for that load to be broken and what i want to see on this i don't want to see the market continue to push down i want to see the pull back first and then the push that will make me feel much more comfortable to take the trade okay that's completely fine also and let's see what happens all right so now we're ranging on this market structure so let's clear these charts and let's see what's happening so now that we're in a range we do need a clear directional bias it does look like the bullish pressure is depleting up here so let's see if we do break above eventually and if not we'll look to see if we can take a sell on the way down now we have a key level where price is at right now if we don't break the structure and we do start to break below some of these major levels here in the market then i would look to take a cell back down to the bottom of this range so let's see how this price action starts to form we have broken above now so i reckon it's time to clear our charts new perspective structural high in a market we've just broken above this structure i'm not taking a bite for some reason i know that we've broken clothes and above uh closed above for the first time with a bullish candle but i do see price reacting in and around this quick area here so i'd be scared to take a bite just in case we have a break back in so i'm just going to wait patiently um okay so a break out and break back in here let's continue to see what happens and another breakout now this is probably a better opportunity to take a buy now that we've cleared these wick areas again my only concern here is risk before reward and when we're in a push phase more often than not we're going to see the market exhaust so in that instance i can't take a buy in a push phase but what i can do is it can identify if this push phase is going to start to exhaust if it does then i want to hourly close just one key level created a break below that level and then what i could do is target probably around 50 of this level so potentially identifying a potential retest before a continuation which will give me enough to go break even so let's see how this plays out we're continuing bullish which is completely fine and we'll continue this bias again from the structural high if the market now creates a level here because we're in a really strong push phase now um i do still suspect the market is going to exhaust well it has to eventually right at least to about 50 so now i have a level created round about here what i would say to myself actually i'll take the body if we get a break flows below this level then i'll have enough range to take a cell from this level to this level here there's only 20 pips oh my goodness because this is new zealand or swiss franc is that a break it's not really let's wait for a cleaner break and see what happens and we continue to push up again we have now created a really nice strong level here and i don't want to take buyers guys i know you'd be like well rocks it's by bias why are you looking for the reversal listen to what i'm telling you this is a strong push phase the market is going to exhaust at some point i do not want to take a bite because i don't know how far this is going to push i don't have any data to work with to the left so i'm just going to wait patiently for that sell opportunity now see the thing is here if i scrunch my charts it does look like you know the candle is smaller if i pull my charts it looks bigger to be honest with you this has pushed too much if i buy here i'll have to have my stop-loss above this candle which is 24 pips and i don't have a one-to-one for price to get there so now i just need to wait patiently i would have loved to take in a cell if price didn't push down as much but there you go so we're just waiting patiently now now we have a consolidation here which is kind of indicating to me that we may be entering a potential reversal i'll just uh forecast this really and say to myself if this is a structural high potential trend down brick wall in place we don't break above it we have a key level here if we break below this then potentially we can reach some of these targets down here this is what i'll be going for so again just waiting patiently one more candle and we've broken above okay now i have to take into account this area here in the market as long as we don't break above this then we still can consider that and let's see what happens so this is not a breakout a break below this area here will be absolutely perfect we're moving sideways and consolidate in we're not breaking these structures yet to confirm a continuation of this trend up still not breaking it this is a very good sign one more you know i'm taking this trade okay there's so much to support why we should be taking cells here i am concerned about one thing which is this push phase but i take into consideration everything that i'm looking at right there was a trend to the upside there was a structural high high low failed to break the high created triple top and now broken a major key level it hasn't broken for a long time there's definitely a bearish sentiment in this market now if i take this trade what i'm expecting the market to do is to continue to push down to some of these lows here so i would take this with an instant execution i have two options more passive um stop-loss more aggressive stop-loss should i say or a more passive stop-loss um i think i'll go for the more passive stop-loss on this occasion for a 20 stop loss and i thought you put target and here are the rules right we're gonna we were gonna want to get break even by price by time price gets back down to some of these lows here and if the market breaks out and closes we hold the trade and if the market doesn't then we'll close a trade with minimal risk okay okay now we get break even absolutely straight away which is perfect and let's see what happens here so i reckon we would have been all right there for a break even trade so we're still in it for now and we're just waiting now for a tp hopefully if not we'll take a break even trade on this one here there you go so our first trade waiting very very patiently for that really nice break even trade immediately and for our first trade we take one win uh we go two r on this actually okay so now we'll start the analysis again um what i want to do in this instance is i just want to make sure that i've got a fresh perspective looking away for the charts for a minute and then looking back okay so the overall structure of this market is clearly cell bias we're putting in lower lows and lower highs we have previously broken this key level in the market i want to obviously not disregard or i don't want to disregard that there's multiple wick rejections here um so let's just take a look at what could be causing that not looking back too far but we can see there's many many wicks here okay now what i would say to myself is the market isn't a downtrend at the moment we do have evidence here of a really strong push phase that we could suspect the exhaustion before the continuation based on that information even if price does break this structure i still feel that we don't have enough range to take a sell i'd much prefer price to pull back um and then indicate a level and then break that level what i will then do is disregard this level here anticipate a lower high and then suspect the lower low to form okay so let's see what happens okay okay so we've continued to push down and now we get this reaction absolutely amazing for process here i congratulate myself because guess what if we took the break out here with the more aggressive entry we would have not got a one-to-one risk to reward or we may have just been able to scrape it depends but look at this price has come back on us we don't want to take a trade when there's not enough range so now what i'll do is i'll re-analyze this market i'll identify prices reacting to a major key level here in the markets looking to the left we've had a major reaction previously in the past and what i want to see now is is this market planning to reverse and if so how can i get into this trade so let's try to take control of my mouse here all right here we go so we have a push phase a pullback now we have nothing happen at the moment we're just waiting patiently now are we continuing this downtrend here this is the question we never disregarded it wasn't a downtrend but we did anticipate because of this key level that we mean you know potentially reverse but anyway we're just putting our thoughts into the universe and then we'll narrow them down as we go along would i be satisfied with taking a break out here well this is a very major key level price is held at once or created it once held it once and if we get the break we can then anticipate a lower low lower high formation and then look for a potential continuation to the downside let's see what happens here we do have this break with this break there is a very high chance price could continue down now um in terms of stop-loss this is going to be the safest stop-loss but we know we can't take it like this so i think in this instance i'm going to go for a more aggressive stop-loss here we don't have a one-to-two risk toward ratio we would have to break this level but i mean you know it's not about the targets right now it's about risk before reward so how we're going to take this is once we break clothes below this level we'll continue to hold the trade if we break and break back in we'll then just close the trade out okay let's see what happens absolutely beautiful so i'm sure we have a one-to-one wrist toward ratio here this is 14 pips and we're at 14 pips now so we're gonna go break even on this one and let's see if we can hit those targets okay so for our second trade we have a breakeven trade here perfectly fine now we've broken below this structure we could be retesting this level again we'll have to monitor how price reacts if price starts to push into this level without breaking above it and then creates a level to work with i could then look for a breakout of this level and then a continuation back down to some of these lows here so we'll see how this one plays out and go from there so i wouldn't necessarily call this a break back in just yet i will identify the level that we've mentioned and then see if we can get this break back below this man this is just what can i say so we have the break back below this level i am feeling confident to take a cell i'm just going to tell you now though we probably cannot take this because we do not have a break even range if we went for a one to one here you know i guess everything happens for a reason right we just do not have that break even range even if i just cry for help and look for key levels even if i just pulled it here to take into account these wicks can i make a one-to-one here you know what i am going to take this to be honest with you guys um i'm feeling good about it everything that i've planned has planned out you know i wanted to see price come back in i said it hasn't broken if we break below this i'll look for the cell i'll go for the one to one here at this level and i'll just make sure that i've got really really tight risk management or aggressive risk management again if we break below strong enough i'll hold the trade if not we will just close out so let's go for it so that is not a strong enough break for us unfortunately i personally say that i'm not going to be looking to lose a full position on this so i'm going to now trail my stop-loss to half and you know we only lose one r on this i know sorry half an hour on this as opposed to a full r if price starts to push back up so we'll see what happens here and yes we do lose half an hour on this but we're being very very cautious because price did not do what we wanted it to do and for that reason i am not risking it for a biscuit so i'm going 0.05 minus 0.05 or sorry no minus r on this and there we have it okay so we take a half a stop loss on this and that's it we move on now price again has created this level in the market um i just think we're going to be stretching it now for this breakeven range to be honest with you so i'm not even going to try to to fight the markets right now just going to wait patiently and see what happens so let's just see oh wow wow wow wow you know i guess you know the markets could have gone the opposite direction we had our stop-loss above here but you know well okay so now we just continue to reanalyze the markets um i'm don't really have anything to the left i'm just going to focus on current price action now kind of bummed out about that to be honest with you but it is what it is strong push phase now we need to see the market correct so once we see this market correct then we can look to take a trade again um at this moment in time we're really overextended so i would suspect an exhaustion first and to be honest with you i am going to go pretty aggressive on this one the reason why i'm saying this is because we have a really strong push phase in this market we have multiple wick rejections to confirm a potential exhaustion i do suspect the exhaustion to come back to around a retest level of 50 of this move here and we also have strong bullish sentiment indicating a break above this structure in my opinion this looks like a good sign to get at least a break even trade even if we don't win it and i know this is a sell by structure but the behavior is telling me otherwise so for now i'm going to go for a more aggressive stop loss so 15 pips hopefully we get a one to one well we don't really need a one to one until here but we'll go for our one to two and what i would say at this stage is once price starts to push up once price starts to push up once price starts to push up what we can do is start to move our stop loss to half position if that's what it's going to do okay so let's get this on the nose here a little bit down something like this that would do and let's see what happens okay so the market did continue to move up in our direction back to around that 50 retracement level that i mentioned and now holding this trade just means that guess what i'm just being hopeful in the life markets probably would have had enough time to go stop plus half on this and call it quits or even better still would have been able to go break even on this you know because as price is pushing up if i start to see the rejection i will see the depletion in that bullish pressure and i will close out the trade this is a back testing session which means i'll have to keep this trade open which i do truly believe i'm gonna lose but you know it is what it is what can i say what can i say so yeah this is the beauty of back testing now again i stick by my bias i can see that price is truly failing to break if we get a break above this level with a nice bullish candle i'm going in for the buyers again because i still suspect a strong exhaustion at some point now this is a break above structure here we do have this wick rejection here again now what i identify with this wick rejection compared to the last one is if you notice the last one pushed up broke back in and closed bearish well this one is broken above pushed up and closed bullish i do i do believe at this stage there is more bullish sentiment than there is bearish sentiment based on the downtrend the low expecting the pullback before the continuation and with price now showing two different behavioral patterns here one breaking out closing bearish one breaking out maintaining its bullish sentiment so for that reason i'm going to take this trade i'm going to go more passive on this with a stop loss below structure working with an 18 pip stop loss and then going for our one to two wrist award ratio trade now now nothing let's just see what happens on this one again in terms of management if we break close above i'll hold the trade if we start breaking back in then i'll look to get out of this at half a loss okay at the moment we're still 0.5 are up we've taken four trades and to be honest with you we're doing extremely good with our risk management so let's continue to see what happens so this means nothing to me prices just opened created it's wick and now if the next candle starts to break back in we're closing the trade but if we continue this bullish pressure then obviously we'll maintain this now in terms of management we have closed bearish if the next candle closes below this level i'm out of the trade if the market continues to push up then well there you go i mean you know what i'm going to tell you this now the candle did not close below this level and to be honest with you just like i was robbed of a breakeven trade here or even stop loss to half here i'm going to maintain that we are still in this trade so for that reason let's continue to see what happens we're continuing to push the upside we have a very very nice break even trade here and look at the stop-loss placement of that as a beauty come on man we wasn't greedy we didn't place our stop-loss blow this week here we said we know that there is a higher chance price continue to continue to go down but we are anticipating this exhaustion let's be safe rather than sorry give ourselves enough range to make sure we can manage this stop loss if need be and look man even though price shot to the downside or it may not shot it went to the downside we maintained this trade and look we were rewarded so let's see if we can hit these take profits now and unfortunately not we were robbed again but oh my days oh well this is life this is trading and i mean what can we do you know what can we do now i maintained the fact that the market is potentially reversing i am now going to say to you all i'm very confident that i believe the markets continue to push to the upside again same behavioral pattern here what we can see in this market structure price breaking closing above bullish for the first time whereas previously we wasn't able to break above these structures same behavioral pattern as over here and that's the reason we took the trade so for that reason i am going to go in for another buy we did get break even over here and in terms of my targets i'm not really too concerned about structure to the left here i will have to go for a more aggressive stop-loss because i definitely not going to place it below these lows here but what i may do is i may make sure that it's below this structure level here so for that reason i'm going to take this with an instant execution as a breakout trade i'm going to go for my one to two wrist toward ratio targets here and i'm going to say to myself at this stage based on how the markets move i'm now suspecting that this is a reversal a trend to the upside and what we should be seeing is a new higher high formation forming okay so i think at this stage we would have got break even on this with a strong push the upside but i'm not sure that we were stopped out here um so we are break even with that push and yes unfortunately we take another break even trade this is a life of trade in everybody it just is what it is we have one two three four five six trades four more to go let's see what happens i do believe that if the market does not break below the structure we can continue this bull by sentiment here what i would say to you in order for me to take another trade what i'm going to be looking for is for price to break out of this structure now that we create a potential double bottom of this formation here indicating a higher low double bottom if we respect it and we create a break above this structure then i can suspect a continuation to the upside okay now we've created the break below structure will be too early to take a cell even though that this is still potentially cell bias with price respect in the previous lower high i personally do not want to take a trade where i was taking bias now i want to switch to cells and then what i see form on this is a push phase high low continuation so i don't want to be robbed and i don't want to just switch my bias immediately every time i want to do it what i'm going to wait for now is for the market to create true stock structure that i can understand and then i'll go into my next trade so for now just waiting patiently and we will see what happens so look if this is going to be the higher low of this new uptrend that i've just mentioned here that's why i didn't want to take the cell right if this is a new higher low all i want to see is price break above this this is the wick rejection area where price is failing to break right meaning that there's lots of cell pressure at the moment but if we break above there is a strong sign we could continue to the upside so let's see what happens now right so we break below this structure now we have a major key level here guess what i'm just waiting for the price to leave this level if we get a break below it then i'll look for a cell okay and now we're breaking back in so now the market is in my opinion rangy more than anything else we have a structural high here let's account for as many wicks as we can structural low we have one tap two taps and now we just call this a range so we'll wait for the market to just give us a true directional bias here and a break like that does not entice me to want to take a trade the push phase is too strong i expect the exhaustion so what i'm going to plan now is the exhaustion pullback a level created key level formed and a break below for a cell okay so just waiting patiently now for the market to create some structure i can work with okay so we're in a very strong push phase now i just have to wait for the market to create true structure at the moment i would say that i'm more cell biased than i am by bias but i'm going to go back to the same behavior as previously which is a very strong push phase without an exhaustion anticipating price to come back to a retest level in the market identifying price failing to break above a level here that it's formed to be a potential lower high and then price created multiple wick rejections if now price breaks above this i would take a buy back to these key levels for an exhaustion which will give me a break even trade okay and now we start to range so we see in this depletion in this bare sentiment here and this breakout to the upside so i do feel very satisfied with this i just know one thing here we're not going to be able to get a one-to-one risk toward ratio trade now i have to see if there's confluences to validate why i would take this this would be a more of an aggressive trade here with a stop loss below the structure for 16 pips now if this is the push phase can i suspect price to get back to around 50 percent probably can but then again this just voids the trade altogether because i don't have a break-even range so for that reason i'm just not going to take it and yes that's that is what it is okay i was a bit too quick with my buttons there but it doesn't matter um i do like this breakout of this structure i do like the fact that price is forming this high high high low formation i do identify that the market has broken out of this range and come back to this retest level but i do also identify that for the first time in a very long time price has broken this brick wall created a consolidation which could possibly mean to us that the bearish um the best sentiment is depleting and now the bullish pressure is um is stepping into the market price broke once price broke twice now we have price trying to break back in failing wick rejection indicating bullish sentiment and personally i do believe that this market can continue to push the upside back to some of these highs here so for that reason i'm going to take a bite with a let's see now i need a one to two to these highs i could go for a more passive stop loss here so we'll go 19 pips stop loss here for a 38-pip target okay now i do believe that price can get back to some of these highs over here and uh yeah i think the behavior of this market is definitely illustrating well to us that we can continue to push on and i believe that's a break even trade on this one now with this to be honest with you guys there is just nothing you can do it is such a shamble i will say personally that if i'm planning to take another trade here for a buy what i would want to see the market do is hold above this level if the market holds above this level and we create let's say an indecision i'll then look for another break above this level here but then a continuation to the upside okay so let's see what this starts to form indecision as we've mentioned more indecision and a break no not yet and a break below the structure so to be honest with you i mean i keep saying to be honest it's probably very annoying but i'm just trying to gather my thoughts here uh with this one okay so structural high structural lows break out back to the consolidation area respecting that level previous structural break um i think we're respecting this structure with burst sentiment coming in back to these key levels here you know i don't have a bias at the moment so i'm just going to wait patiently see what's happening with this market structure so at the moment i'm not seeing a bias so i'm now saying to myself if this is the retest i expect the lower low the lower low hasn't formed price is creating multiple wick rejections back around the retest level if i can anticipate this to be the higher high higher low formation and then look to see if price can break above this level here where multiple wick reactions will form then we can consider this as a buy bias market structure then anticipate him a new higher high to take a buy so let's see if we get a break above this structure we're breaking below i'm not confident in taking sales my plans were buyers and i'm just not confident in taking cells i'm going again again just wait patiently and this is what i mean it doesn't make sense that the market wants to sell so we've had a breakout we've had a break back in we have this major wick area here i'm sticking to the same plan if we can break above this i'm taking buys the market's doing a whole heap of bits right now nothing absolutely nothing so just going to wait patiently now for the market to create some true structure again for me to work with my buy plan did not follow through and for that reason i am going to wait now again i do believe that we are just ranging at this moment in time so for me there's no buy buys or sell by sentiment this is a key 11 in the market so if we do break below it we could continue to the downside and in my personal opinion i would want price to leave create a lower high then break a lower high structure before a cell and for by bias i mean we could go aggressive with a key level entry here looking to identify price failure to break the structure on multiple occasions and if we get a break above then we can suspect price will get back to some of these highs here but i'm not sure that's how i really trade to be honest with you but i mean we we're creating this strategy as we're going along we might as well test everything i am super super nervous to take this trade i just don't know what my thoughts are on it so we have down training this market breakout higher high higher low fail to make a higher high range breakout range breakout hmm yeah this is a tough cookie this one this is a tough cookie this one i think if i was to take this trade i think that i'd be safe to put my stop-loss below this level i don't think that i'll be stopped out immediately and i do believe that i could manage this trade pretty aggressively in terms of a target one to two i'll be targeting back this week area here okay you know i think for this one this is what i'm going to say i'm going to accept a full stop loss in this one because i'm not sure that the momentum is ready to continue pushing up right now and i do believe that we could hover in this area for a period of time because we're not trending i don't suspect an immediate move to the downside or upside so for that reason i'm going to give the markets time to breathe i am refusing to go break even on this one to one and i'm going to hold out and if i take a full stop loss i do um i will only be down half a percent here which is completely fine and i still have free trades to go this week so let's see what happens yeah that is just oh my life this pair new zealand dollar swiss franc i just cannot believe i mean i should suspect this with the news that happens while i'm sleeping this is why i don't trade this pair absolute nightmare we had a break even trade over here because price pushed up so we got a break even trade and over here um one of these ones we got a break even trade i think it was this one because price pushed up um over here was the same scenario where i said if i see this it's more likely we're going down than we're going up what's the point in closing this i've accepted a full stop loss on it so let's see what's happened let's see what happens i just looked at my camera to um give give it a little smile there give a little smile but unfortunately my camera memory has just told me it's dead so we're now just solely on the screens here but look at that man this is this is you know something that you all should really be focusing on when you make a plan just stick to it when we took the trade we said we're going to accept a four-hour loss we're not going to go for a break-even trade here we're going to let it run we're going to see what happens even though we could have closed the trade out here we remembered the scenario over here and we said look we'll accept the loss because that's what we've planned now we are 2.5 r up baby with free trades to go absolutely gorgeous let's see what continues to happen on this market structure so that's this okay so at the moment i'm still by bias on this market structure because you know we're creating higher highs and higher lows we want to see the market respect these structures now i'm starting to see a sign here of a structural high low high potential lower low formation and i have a key level i can work with if this low low is going to be formed which is going to be somewhere in and around here okay so right now our maintainer bye sentiment but if we do start to see these breaks below these structures then i'll look for a cell back down to these lows for a buy i'm only looking for price to break out of this structure okay so for now we're just waiting patiently as we are moving sideways this is a wick rejection indicating bearish sentiment which we can suspect at a key level and if we get a break above then what we can suspect the market will do is come back to some of these highs here we don't really have any traffic to the left the overall sentiment of this market is bullish the structure is bullish and i think for this we know we're really nice into profits right now we could go for more of an aggressive stop-loss placement just below the wick here i'm looking for 16 pips and i just can't put it in 16 pips and then we'll go for a 32 pip target on this one okay now we're asking a lot um well we're not really i guess we're targeting these these areas over here to the left so that would be completely fine and with this one we will manage this aggressively if price breaks above closes we'll hold the trade for a break even if price breaks out comes back in we'll cut the losses at half a loss well in that instance we're absolutely screwed and there's nothing we can do here so we will take the loss and that's completely fine so minus one r minus one r on this one okay fine let's continue the process right now we're sitting at one two three four five six seven eight two more trays to go let's see if we can end this one with an absolute banger so now we're just looking for the market to create true structure at the moment we are just ranging you know the market is not giving us any indication of where it wants to go we'll make sure we account for this wick and this behavior here and then we'll look to see how price breaks above this structure if it does so to be honest with you this is not really a break for me i want to see price breaking stronger above this level now that that which created i will account for all these weeks here so this week this week this week and let's see if we can break those above very good that's why we look for a true break as opposed to just taking a break when we want to and now we're looking for price to break above this structure this is a very very good break i really do believe now we can continue to the upside because this is the first time we've broke this structure in a very long time i'd say we'll take a more passive stop-loss range here so that's below the not the current candle we're entering on the candle before that and what we're looking to do is target some of these structural highs over here so let's see what happens with this trade a really nice push to the upside a very very easy break even trade here and an absolutely gorgeous take profit in the bag let's lock it in very very nice very very nice very very nice uh what am i done yeah there you go and now on to our final trade where we at man plus 2r oh i didn't need to write plus 2r here so let's remove this so 2r 2 4 6r 5r 4r three point five percent up baby with a one to two wrist ward ratio on a breakout strategy we're just making up on the spot one more trade let's end with an absolute banger the overall structure of this market to me is bullish right now but in terms of a bigger picture we are arranging so personally with a really strong push face to the upside what i want to see in exhaust is an exhaustion back down to some of these lows here before a continuation of this uptrend if i'm thinking along the lines of a break and retest trader i do suspect price to get back here so if we get a break close below this structure then i'm going to look to take a cell now that we've broken above this level here i mean i'm not going to say that i'm comfortable taking a buy even though it makes sense a high low formation a breakout a continuation just not comfortable i feel like i'm entering no man's land here with this breakout even though we can continue up i think i'm just going to target um the exhaustion if i get the evidence if this market leaves and continues to push up without me entering the trade okay so now oh actually if price breaks above this level here after the retest of this structure so i'd much prefer to come lower which it has actually if we get a break above here i would look to take a continuation by actually um anticipate in a bullish break a bullish continuation so let's see what happens damn you know i'm taking this trade come on so this is our final trade of the day fingers crossed on this one we'll go for a more aggressive entry on this because to be honest with you nothing just i'm going for a more aggressive entry on this and we are going for a one to two risk to reward ratio trade um i hope you guys got your fingers crossed for me on this one because if we can end on a really nice winner then we are we're laughing we are laughing either way we'll still be 1.5 are up and i think for 10 trades that's really good stats over 100 trades will be 15 up which is really really really good so fingers crossed with this last trade we've taken one two three four five six seven eight nine trades actually the stats are wrong two four six five four four three and a half whoa hold on two four six um five four three and a half percent where did i get 15 from oh yeah three and a half percent okay no so if we lose one r we're two and a half percent up if we win we're five and a half percent up and if we break even we're still three and a half percent up okay fine so good luck fingers crossed and let's play this trade out so by the looks of it there's a break even trade there so 14 pips and 14 pips break even i think so let's put it to break even it's going to be break even right yeah whatever okay so for our final trade here we are what break even so let's count the numbers here i mean personally i think that was an absolute epic session in my humble opinion it seems we just made this one up on the spot but here we have um two four six r minus one five minus one four minus half three so over ten trades we've done three point five r and then if we do this over a hundred trades that's 35 percent up if you ask me i think they're pretty epic statistics you know we really focused on our risk management really aggressive with the risk management we also made sure that when we was in profits we managed those trades to break even and when we were on on our way to targets we made sure that we were holding now just shows you right out of 10 trades we only won one two three of them three wins one two three four break evens and free losses you know as far as i'm concerned it's a fairly free free free there and even with a one to two wristwad ratio you know you trade in a strategy that has positive expectancy and also we're focusing so aggressively on risk management is the reason why we could come out of this with a three and a half percent profit over 100 trades 35 percent if you ask me that's absolutely epic and let's just think of it this way if you trade in 100k account that's already a yearly salary if you trade in free 100k accounts 300k you know you're looking at well over 100k now how'd you better that well you continue to adapt adjust increase your risk to reward trade other pairs i mean there's so many so much potential that can come from this but anyway i hope you enjoyed this series if you did please smash that like button subscribe if you haven't turn on notifications until next time finally continue to trust the process

Channel: RockzFX Academy

Views: 105,999

Keywords: forex, forex trading, forex strategies, best trading strategies, how to trade forex, price action trading, candlestick charts, best forex strategy, forex patterns, forex patterns cheat sheet, rockzfx entry, rockzfx strategy, rockzfx support and resistance, best forex strategy for consistent profits, best forex strategy 2020, rockzfx, breakout strategy forex, breakout strategy, breakout strategy for intraday

Id: HRqCl8u2jiI

Length: 48min 6sec (2886 seconds)

Published: Fri Dec 04 2020