216# Ichimoku with Fibonacci breakout levels.

Submit by Joy22

Ichimoku with Fibonacci breakout levels is an great trend following strategy for trading. Because it manages to optimize the revenue on the Kumo breakout with the Fibonacci levels, and this idea has been successful. In other words, when the kumo is broken you do not enter but orders are placed on the support and resistance and breakout levels, or only on the breakout level but what is important is that there must be a concordance of direction between the Kumo. and the entry levels.

Setup Strategy

Time frame 15 min or higher.

Currency pairs: any.

Platform metatrader 4.

Metatrader 4 indicators

Ichi 360 V.9 (optional).

Ichimoku scanner (optional).

Ichimoku (9, 26, 52)

AutoFibonacci

Ichimoku Breakout (optional).

As you can see, the trading system can be simplified by using only Ichimoku and Autofibonacci.

Trading rules Ichimoku with Fibonacci breakout levels.

Buy

The price breaks upward the Kumo.
Place pending orders on support and resistance levels and on the breakout level (or just on the breakout level).
The direction of Auto Fibonacci or the green color levels.

Sell

The price breaks down the Kumo.
Place pending orders on support and resistance levels and on the breakout level (or just on the breakout level).
The direction of Auto Fibonacci or the red color levels.

Exit position

Place initial stop loss at the previous swing/high/low.

Make profit at the levels of breakout or with ratio stop loss minimum 1:1.1.

Examples of trades.