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Asian Weekly Range Breakout Strategy

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Asian Weekly Range Breakout Strategy

With the first two four hour chart bars, mark the resistance and support. Place a buy order above the resistance and sell order below the support. The range with the least pips is best for this strategy; anywhere from as low as 7pip to 26.5 pips is excellent. But the lower the better chance of a clean breakout of the week. Best works on GBP pairs.

Fri, 09/28/2018 - 12:25pm

Sounds interesting. I do a similar break out trade using the daily chart. At the end of each trading day look for an inside bar to form on the daily chart (NY Session close at 1700 NY time). If you find one, then place a buy stop order above the outside bar high and a sell stop order below the outside bar low for break out trades. As with yours, the smaller the range of the outside bar, the better the odds of a clean break out.


Steve perry has an interesting take on these trades that reverses concrntional wisdom. see overnight trading discussions. He advocates a buy stop order 10 pips BELOW and sell stop ABOVE the range. s/l are at tps in both cases. max win is the range. ideal scenario is both trades get triggered so you are hedged. once this occurs you are at the maximum and can close both trades out. I'm impressed with this approach to dodging fake outs.