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SR Trading

  • #1
  • First Post: Jan 27, 2018 12:46pm Jan 27, 2018 12:46pm
A bit of spare time so i thought i'd post a system that i have been trading for sometime now. it's not ground breaking or 'holy grail' system so many on here waste their time searching for, it's just a solid simple system that is kind of an adaption of the 'fake or break' trading i posted about a many years ago (oh how old i feel)

basically make out SR areas on the weekly/ and used a breakout or fakeout of 4hr SR areas for entry. a few examples

WEEKLY to plot main SR areas

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4HR for entry SR areas

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...another example

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I tend to use a time frame difference of 2 for SR line and entry. e.g. weekly/4hr, daily/1hr....if i'm daytrading then some times a greater difference 4hr/15mins, 1hr/5min.
hopefully this might help a few people out. it's simple and clean and works on all time frames and most of the time allows you to sent pending order, although i prefer if candle closes.

Attached File(s)
File Type: ex4 Support and Resistance Breakout Arrows.ex4   14 KB | 1,578 downloads

Attached File(s)
File Type: mq4 Support and Resistance Breakout Arrows.mq4   5 KB | 1,910 downloads
  • #2
  • Jan 28, 2018 10:38am Jan 28, 2018 10:38am
I received a PM asking how this is used for example of day trades and scalping. So i have given a couple of quick examples from last week and Friday using everyone's favorite pair, EU (just thought it would give more legitimacy as i'm not cherry picking)

I like to used the 4hr TF for main SR lines and 15 min for entry SR 'fake outs' or 'break outs'. I find the 4/15m combo allows for 2-4 trades per week on a given pair.

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I like to used the 1hr TF for main SR lines and 5 min for entry SR 'fake outs' or 'break outs'. I find the 1/5m combo is good for day trading and scalping allowing for daily trades. Remember with lower time frames comes more price movement (choppier)

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I find the beauty of trading fake outs or break outs we follow the price. we don't try to predict it.

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I like to used the 4hr TF for main SR lines and 15 min for entry SR 'fake outs' or 'break outs'. I find the 4/15m combo allows for 2-4 trades per week on a given pair.
  • #3
  • Jan 28, 2018 1:03pm Jan 28, 2018 1:03pm
these are GU Friday short term trades (think of 1hr/5min as short term lasting minutes/hrs, 4hr/15min as medium term lasting hrs/days and w/4hr as long term lasting days/weeks)

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...second chance of entry, to late on a Friday but given as an example.

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hopefully this will help those looking for a reliable easy system, not indicator driven (it's more just for visible help, plus alert feature is good to have), simply supply and demand at past SR points. any questions, ask.
  • #4
  • Jan 28, 2018 1:40pm Jan 28, 2018 1:40pm
Hello Kraven.. may green pips always with u..
same w you... im always searching for fake out, breakout as primary analisys then..

im falling in love with PA analisys..
my2cent for EU... wait and see..
regard..
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  • #5
  • Edited 2:35pm Jan 28, 2018 1:58pm | Edited 2:35pm
GBP/EUR USD in my eyes..
KISS
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  • #6
  • Edited 2:17pm Jan 28, 2018 2:02pm | Edited 2:17pm
IMHO. both of them un clearly Break yet (breakdown) .. for intraday Bias still bullish.. maybe rightnow bullish lossing momentum.
regard.
  • #7
  • Jan 28, 2018 2:57pm Jan 28, 2018 2:57pm
Hi meugampong, nice to hear from a fellow 'break or fake out' trader. I tend to let new 1hr SR lines open on a new week instead of using Fridays, but if i did it would go like this.

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I don't fight or guess the price, it's either going to continue at these SR areas (created by past failures to go further) or fail again. As I don't control the price I just try and follow it. the way i now chart analyse is the simplest it's been in years. much prefer it that way.
  • #8
  • Jan 28, 2018 3:16pm Jan 28, 2018 3:16pm
Quoting kraven
Hi meugampong, nice to hear from a fellow 'break or fake out' trader. I tend to let new 1hr SR lines open on a new week instead of using Fridays, but if i did it would go like this. {image} {image} I don't fight or guess the price, it's either going to continue at these SR areas (created by past failures to go further) or fail again. As I don't control the price I just try and follow it. the way i now chart analyse is the simplest it's been in years. much prefer it that way.
Nice chart Kraven. me to kraven .. going long for 5 minute at GU just for scalp and Tight SL and perhaps price going in my favour to the last Resistance as i know and marked as FAKEOUT.. sorry for my english..

here is another my analysis in USDCAD about the fake out and i try to catch the retracement so we can try to make some pips with a little risk and big gain.. we hope.. hehehe
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  • #9
  • Jan 28, 2018 3:28pm Jan 28, 2018 3:28pm
Just to clarify. If price continues its direction then 'break out' if it goes through and pulls back/reverses then 'fake out'

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  • #10
  • Edited 3:56pm Jan 28, 2018 3:40pm | Edited 3:56pm
Quoting kraven
Just to clarify. If price continues its direction then 'break out' if it goes through and pulls back/reverses then 'fake out' {image}
Let the picture tell us.. i can't cexplain in m5.. my monitor dont fit to see..
how to trade the fake out.. always buy in the deep and sell in the sky.. the pullback is always a good idea.. entry when u see a validation.. than with a little SL ww try to trade with the trend.. The real Breakout is the guide whre the price will go.. i see in usd cad we dont have a clear breakout/regular breakout.. at least in 5 minute chart.. btw.. its just analysis.. sorry if i disturb your thread.. im not a guru's .. just an usual trader
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  • #11
  • Edited 4:16pm Jan 28, 2018 3:47pm | Edited 4:16pm
here we go.. 5 minute chart fake breakout.. no Clear Breakout Yet... wait for price break resitance/support and pullback, validation, then entry.. No pullback.. no validation.. let it be.. we have tons of another pair..
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  • #12
  • Jan 28, 2018 8:35pm Jan 28, 2018 8:35pm
just wanted to jump in a few live trades early. using 1hr for major SR and 1 min or 5 min for entry

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  • #13
  • Edited 9:26pm Jan 28, 2018 8:57pm | Edited 9:26pm
after being up +14 pips UCad stopped out at BE, took +13 pips on UJ just under 109 round number, EU still going TP set at +24 pips

at this time of day i should have just grabbed 10 pips from each
  • #14
  • Jan 28, 2018 11:43pm Jan 28, 2018 11:43pm
Waiting for PA at The Level
GBP USD 5 Minute

let see .. TP or SL GBP USD
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  • #15
  • Jan 29, 2018 12:34am Jan 29, 2018 12:34am
Hi, can u explain the break out and fake out strategy. also, how what is the indicator u use on ur chart. Thank you? If I engage on H4, what is SL and TP level should I set?

I just saw the arrow indicator
  • #16
  • Jan 29, 2018 3:02am Jan 29, 2018 3:02am
Hi, +36 GBP/USD
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  • #17
  • Jan 29, 2018 3:58am Jan 29, 2018 3:58am
Quoting hzs10
Hi, can u explain the break out and fake out strategy. also, how what is the indicator u use on ur chart. Thank you? If I engage on H4, what is SL and TP level should I set? I just saw the arrow indicator
the fake out is the battle zone beetween seller and buyer... who's the winner will drive the price.. thats what i know..
in the fake out we can see.. much pending order because in this zone price is attractive for supply and demand.. argggh.. i cant xplain..

take google translate.. from indonesian/bahasa to ur langguange..

Fake Out adalah ciri ciri dari banyaknya order yang ditanamkan oleh penjual dan pembeli.. dengan adanya penolakan harga disitu kita bisa pastikan bahwa di level tersebut merupakan area yang sangan menarik bagi pelaku pasar.

jangan entry ketika breakout /fakeout sedang terjadi, tunggulah seberapa saat ketika harga kembali/pullback.. kemudian entrylah dengan SL selayaknya

Fakeout/breakout selalu terjadi di area support dan resistance yang telah dikenal pasti sebalumnya..

contoh..

im always entry on M1 TF.. with alittle risk much reward
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  • #18
  • Jan 29, 2018 4:43am Jan 29, 2018 4:43am
Quoting meugampong
{quote} the fake out is the battle zone beetween seller and buyer... who's the winner will drive the price.. thats what i know.. in the fake out we can see.. much pending order because in this zone price is attractive for supply and demand.. argggh.. i cant xplain.. take google translate.. from indonesian/bahasa to ur langguange.. Fake Out adalah ciri ciri dari banyaknya order yang ditanamkan oleh penjual dan pembeli.. dengan adanya penolakan harga disitu kita bisa pastikan bahwa di level tersebut merupakan area yang sangan menarik bagi pelaku pasar....
thanks for trying to explain! i supposed fake out is pric rejection?
  • #19
  • Jan 29, 2018 4:44am Jan 29, 2018 4:44am
Quoting kiki215fr
Hi, +36 GBP/USD {image}
at which bar did u engaged?
  • #20
  • Jan 29, 2018 5:35am Jan 29, 2018 5:35am
Quoting hzs10
{quote} at which bar did u engaged?
I took my trad early later I had 1hr break out confirmation by arrow.
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