23# Breakout Sqaulou Trading System
Dynamic Breakout
Submit by JanusTrader
Time Frame:H1.
Currency Pairs:all.
Indicators:
Squalou default settings (4,60,30)
Entry:
+ Breakout candle should be wholly in one half of the CZ (top half for long, bottom for short)
+ Candle should move 5 pips beyond the CZ before entry (to minimise impact of fake breakouts)
+ Enter when market moves 5 pips beyond CZ (inital stop loss = middle of the CZ zone, so on a 30pip CZ box SL=5+15=20 pips -- this also means if you follow entry rule 1 it is below the low of the
candle).
Trading Pattern: (gradually sizing
out)
+ First TP at +10 pips (+15 from CZ), close half of your position, move SL to the edge of the CZ (at this point you will have locked in +5 pips profit)
+ Second TP (close your remaining position) at +20 pips (+25 from CZ) OR when a second CZ forms
You're out within 25 pips of the CZ which based on the average Buy/Sells from Squallou's indicator looks just inside the average... so you can probably squeeze out more profit if you're
game.
In the pictures below Breakout Sqaulou Trading System in action.
Share your opinion, can help everyone to understand the forex strategy.
Eu (Wednesday, 24 February 2021 12:28)
thx