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Trading Systems and Strategies
Swing Trading Strategy - 19% Return, 5 Trades, 1 Month
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[QUOTE="DRFXTRADING12, post: 92912, member: 32678"] [B]TRADE 5 - CHF JPY - SLOW BREAKOUT - STRATEGY 2[/B] This new trading strategy takes advantage of breakouts that would have otherwise have been ignored given the small nature of the candles that often lead to unexpected reversals. However, it has been now been realized that these can be very profitable once we are able to distinguish between those that lead to these reversals and those that successfully hit their targets. On November 21, this pair provided such an opportunity with a [URL='http://www.myfxbook.com/autotrade']signal[/URL] to indicate the resumption of the breakout that started back in October. The expected breakout was in keeping with the new Downtrend that was formed as the pair continued to break farther below the major Uptrend Line in place since 2012. [URL='http://www.myfxbook.com/files/DRFXTRADING/NOV_4_2015_CHF_JPY_FXCM_OVERALL_SETUP.png'][IMG]http://www.myfxbook.com/files/DRFXTRADING/NOV_4_2015_CHF_JPY_FXCM_OVERALL_SETUP.png[/IMG][/URL] [URL='http://www.myfxbook.com/files/DRFXTRADING/NOV_4_2015_CHF_JPY_FXCM_SETUP__SIGNAL.png'][IMG]http://www.myfxbook.com/files/DRFXTRADING/NOV_4_2015_CHF_JPY_FXCM_SETUP__SIGNAL.png[/IMG][/URL] This was another example of the market pulling back to 'test' the broken boundary before U-Turning to resume the breakout. It is one of the three common ways in which the market can start breaks from these setups (3). [URL='http://www.myfxbook.com/files/DRFXTRADING/ADVERTISING__TYPES_OF_CONSOL_BREAK_SIGNALS.jpg'][IMG]http://www.myfxbook.com/files/DRFXTRADING/ADVERTISING__TYPES_OF_CONSOL_BREAK_SIGNALS.jpg[/IMG][/URL] The target of 172 Pips was set to coincide with the Breakout Equivalent of this Pennant but at the end of the holding period, the market had come very close to the Limit Order before pulling back to close the last day at 101 Pips. [URL='http://www.myfxbook.com/files/DRFXTRADING/NOV_4_2015_CHF_JPY_RESULT_101_PIPS.png'][IMG]http://www.myfxbook.com/files/DRFXTRADING/NOV_4_2015_CHF_JPY_RESULT_101_PIPS.png[/IMG][/URL] The candles that continued the breakout were small as expected but they still moved by over 100 Pips to confirm that these would be the ones that offered profitability. Once again, this was a trade that had to be closed early in order to comply with the very important holding period rule that is essential for trading success. This helps to control our ego and our greed that can get in the way of profitability. Another important feature of this trade was that this overall setup and breakout was forecast several weeks ago in September using the tools of Candlestick Patterns in the Manual. As you will see from the video below, the formation of this Pennant and the breakout were expected based on several key Technical Factors that control the movements on the Forex Market. [MEDIA=youtube]UVao-Eru8FI[/MEDIA] With this Methodology, you can not only predict major market patterns ahead of other traders, but also confidently trade them when the right setup is eventually provided. [B]Duane DRFXSWINGTRADING[/B] [/QUOTE]
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