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Fade the breakout

  • #1
  • First Post: Apr 15, 2021 8:01pm Apr 15, 2021 8:01pm
I trade contrarian.

The first step is to find a breakout... and wait for it to finish

looking at EURUSD, max distribution for current breakout is 230
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  • #2
  • Edited 9:16pm Apr 15, 2021 8:53pm | Edited 9:16pm
The breakout is completed with a max distribution of 305.

Look for buy opportunities targeting 305ma at 1.1966
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  • #3
  • Apr 15, 2021 9:45pm Apr 15, 2021 9:45pm
price made new low but distribution failed to expand.

perfect entry for new buyers
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  • #4
  • Apr 16, 2021 7:26am Apr 16, 2021 7:26am
TP hit

We do it again next week
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  • #5
  • Apr 18, 2021 9:21pm Apr 18, 2021 9:21pm
1. Breakout completes period 410
2. Price retests low
3. Retracement to mean
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  • #6
  • Last Post: Apr 19, 2021 7:05pm Apr 19, 2021 7:05pm
USDJPY 8H 395 Order filled at 108.322

eta: 120x8H=40days
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