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Four Hours Forex Breakout Strategy
This system uses EMAs as a trend identifier and determines support and resistance levels.
Forex Indicators:
- Exponential Moving Average 30 Period
- Exponential Moving Average 150 Period
- Exponential Moving Average 200 Period
- Exponential Moving Average 365 Period
EMA 30 helps in identifying trend. Usually when the price retraces to the EMA 30 and then bounce, it indicates strong trend.
EMA 150, EMA 200, EMA 365 helps identify support and resistance levels. Usually it identifies strong support and resistance.
Breakout strategies can help you acquire winning trades and there can be 2 reasons.
First, you are trading with the trend. There is a big chance of winning when you are trading with the trend.
Though the trend is your friend, we must also be careful. It is recommended that you follow the money management, risk management just to be safe.
So, Identify entry where you will risk less and profit more.
A breakout point gives us that entry point.
This makes breakouts one of the best entry systems you will ever use.
Entry Signals and Stops
Identify trendlines and double tops. Trade during breakouts of these indicators.
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