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Break Out Trading ww'tradingstrategies'info

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Break Out Trading. ww.trading-strategies.info. What you can expect to learn. Three simple questions to ask before you place a trade. What I class as a range ... – PowerPoint PPT presentation

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Title: Break Out Trading ww'tradingstrategies'info


1
Break Out Trading ww.trading-strategies.info
2
What you can expect to learn
  • Three simple questions to ask before you place a
    trade
  • What I class as a range
  • How to identify range trading opportunities
  • How to assess them for potential
  • How to trade a range break out

3
Business Plan
  • Where Im now?
  • Where do I want to be?
  • How Im I going to get there?
  • Where is price now?
  • What is it doing?
  • How can I get involved? (remember there are 3
    trades Long, Short Flat)

4
Assessing for intraday potential
  • Objective for day trading an average days
    movement
  • ATR average true range
  • Is there potential for movement on XYZ cross
    rate?

5
Assessing for intraday potential
6
What is a range?
  • A consolidation pattern
  • Generically I call most types of consolidations a
    range
  • This keeps things simple
  • Dont have to worry IF I have identified the
    pattern correctly
  • Dont have to worry about the pattern developing
    into something else

7
What is a range?
8
Trend line price action evolution
9
Generically a range, evolution not a
consideration now.
10
Intraday Ranges
  • The Ideal location for an overnight range is
    at/near the high or low of the previous days
    high/low.
  • If price is consolidating in the middle of the
    previous days high/low range, this is typically
    indicative of continued larger range bound price
    action

11
Intraday Ranges
  • The overnight range is typically a consolidation
    period during the Asian trading session between
    10pm and 7am the following day (UK hours)
  • Dont get hung up on price ranging between these
    times.
  • The range can start a lot earlier and not break
    until a lot later than these times.
  • Im looking for where the majority of price
    action has been contained during this period of
    non trending activity.

12
Intraday Ranges
13
Intraday Ranges
14
Ideal Range
15
Non-Ideal Range
16
Larger Time Frame Ranges
  • These can develop on any other time frames. I use
    60 minute 240 minute charts
  • Obviously you can use larger time frames if you
    so wish.
  • Patterns on these time frames would typically be
    considered for swing trading

17
Larger Time Frame Ranges
18
Break Out Rules
  • Trade the first pullback after the break out of
    the established range.
  • Stop loss goes past the event that caused me to
    get into the trade
  • Targets for intraday trades are based on an
    average days movement
  • Targets for swing trading (longer term) ranges
    are the height of the pattern added to the break
    out point.

19
Break Out example
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Break Out example
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Break Out example
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Break Out example
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Break Out example
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Break Out example
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Break Out example
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Break Out example
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Break Out example
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