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Thread: WEEKLY BREAKOUT STRATEGY

  1. #1
    Trader ola4real's Avatar
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    WEEKLY BREAKOUT STRATEGY

    Good evening everyone, i am so glad to write my first thread today, it is long overdue since i have being in the forum for about three months now. I was taught this lovely and simple trading strategy called weekly breakout by a friend back in the school days, and i hope it will be of good value to all of you to make fortune in the forex field just as it has helped me in particular. It is a simple strategy as long as you can follow it the way i am about to explain to you it. All the best to you all...

    SCOPE OF WEEKLY BREAKOUT STRATEGY: As we all know that the market respect the strategy of breakout so much, it can be a daily breakout, weekly breakout or monthly breakout, the market will respect all of them when it gets to their level. I have used daily, weekly and monthly breakout, and i realize that the one that is more powerful according to my demo experience is the weekly breakout strategy, that is why i have being using it ever since then to make income from the forex field.

    What you have to do is to go to your line panel on the mt4 chart, pick two vertical lines and two horizontal lines, and place the vertical lines where the market opened and close for the previous week on 4 hours time frame. Then, place the two horizontal lines at the highest and lowest point of the previous week.

    For Vertical: Attachment 23007


    For Horizontal: Attachment 23008


    Note: I select the 4 hours time frame so that the lines will be easily readable, you may use lower time frame like 1 hour time frame for it or even daily chart, the choice is yours.

    STRATEGY: Make a buy order when the market breaks the yellow vertical line up when it is a buying market. In the same way, make a sell order when the market breaks the yellow vertical line down when it is a selling market. As you can see, this is a very simple strategy, but it is a powerful strategy to make us earn big income in the forex field.

    STOP LOSS AND TAKE PROFITS: I know that the strategy that is not using stop loss and take profit is a bad strategy, but i don't like choosing stop loss and take profits points for traders. According to my usual trading, i use 30 pips as stop loss, and 120 pips as my weekly target on major pairs. And 35 pips stop loss and 150 pips target for crossed pair trading.

    EXAMPLES: I have two examples for you on EURJPY and USDJPY. You can see when the market breaks the yellow line down on EURJPY at 131.884, the market later became so strong to the sell order, it moved many pips after then. And look at chart of USDJPY too, when the market breaks the previous week high at 107.847, the market climbed up strongly.

    Attachment 23009


    Attachment 23010

    CONCLUSION: This is a good strategy i have being using for long, it is powerful and skilled. With this simple strategy, any trader can trade once or twice in a week and make big value of income.

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  2. #241
    Trader Goldenstein's Avatar
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    Quote Originally Posted by Leonvic View Post
    The weekly break out strategy is too high but it is also quite profitable because if we want to trade the Forex market with a higher time frame, we should know that by default we are going to be patient, our challenge has always been that we trade this business without giving credence to the need for patient, hence we don't maximise our profits from the trades we take.
    at times market could make daily breakouts if the trend keeps going on for long time. one simple example you can relate to this topic is when you look at gbpjpy pair, which has been down for weeks and this proves that daily and weekly movements keeps breaking out to continue the trend since bearish traders are dominating the pairs or currencies. the only valid strategy to make profit is to follow the trend without making any attempts to go for reversal.

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  3. #242
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    If we are use higher time frame in your trading account then we will get the good and profitable trades. Weekly market breakout is help traders to earn maximum possible profit on their trading account. Market breakout trading strategy is always help traders to make high earning within very short time period easily.

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  4. #243
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    Higher time frame help to plan for long term trade we need a good analyzing ability andlot of patience about it , so trader must have to to be clear in his trade with practice enough and with learning ability we chose the right trade strategy which will help to get success ,so we have to use compatible trade strategies for trading safely .

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  5. #244
    Trader Killer_Queen's Avatar
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    Quote Originally Posted by letsdo View Post
    If we are use higher time frame in your trading account then we will get the good and profitable trades. Weekly market breakout is help traders to earn maximum possible profit on their trading account. Market breakout trading strategy is always help traders to make high earning within very short time period easily.
    combining weekly and daily charts to help us analyze market to look for possible trend and reversal is a good choice to work. we just need to find a strategy that suitable to use for long term trading, especially to give us indications for market early trend and reversal. the strategies usually consists of candlestick patterns combined with support resistance levels to help us identify market strong or weak areas for possible opportunity to take the trade in reversal or breakout.

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  6. #245
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    weekly breakout can let the trader to follow the strong movement and let the trader to make an easy money because the trader will be able to determine the strong trend always, the trader needs to determine the best positions of trading by the pivot points and then he will be able to make good and profitable trading and will satisfy with the results he will get.

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  7. #246
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    Personally, weekly and monthly charts are too big for me and I do not use them. I like short term strategies where I can earn normal money and I do not think what can happen in a week. There are traders that may like so long term investments but I think that I can earn more using intraday trading or scalping an it is the best way to trade for me.

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  8. #247
    Trader Doge's Avatar
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    There is another weekly strategy that can be well combined with this one - if the weekly bar's body is decently large - say 100 pips or more, the more the better, and has little to no shadows we put a pending limit order 20-30 pips beyond the close. Take profit is 70-80 pips, stop loss is 100-120.
    For example if it's a bullish bar of 200 pips we put a sell order 30 pip above the close. The aim of the trade is a correction of the last week's move. It should happen as quick as possible, take profit should be taken by Tuesday evening.

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    Wow. Much Forex. So Monies. Very Opportunity.Many Trade. So Amazed. Wow.

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