Having a Clear and Precise understanding of whether you're dealing with a Breakout or False Breakout can help you:
1) Find potentially profitable opportunities
&
2) Avoid making risky investment moves!
Also knowing how to Confirm Trend Change can:
1) Rise probability of profitable trades
&
2) Limit the total # taken!
So today, I lay out the tools, indicators and tips I use to visualize and to make a decision!
Examples:
XLMUSD & 
XRPUSD
Tools:
- Trendline
- Parallel Channel
- Rectangle
Indicators:
- Volume
- RSI
- "True or False" Formula : Close + 20-25% Break + 5-6 Days Outside of Break = Breakout
1) Find potentially profitable opportunities
&
2) Avoid making risky investment moves!
Also knowing how to Confirm Trend Change can:
1) Rise probability of profitable trades
&
2) Limit the total # taken!
So today, I lay out the tools, indicators and tips I use to visualize and to make a decision!
Examples:
XLMUSD & XRPUSDTools:
- Trendline
- Parallel Channel
- Rectangle
Indicators:
- Volume
- RSI
- "True or False" Formula : Close + 20-25% Break + 5-6 Days Outside of Break = Breakout
Anmerkung
Anmerkung
Anmerkung
Tips:- 45 Degree Trendlines are typically most reliable
- 2 Touches signals Potential Trendline, 3rd Touch Validates
- Extend only the Support and Resistance Trendlines that succeed in Supporting or Resisting and discard the unsuccessful ones
- To Maximize Gains and Limit Risks, stay unbiased and utilize Data, Not Emotion
- Statistics show that Triangles fail to deliver the expected result 1/3 of the time. If expected result is delivered, failure rate drops to 2%.
Anmerkung
The X amount beyond the break and Y amount of days closed outside of the True or False formula is dependant upon the market and asset you are trading, it's not one size fits all!Backtest the assets you trade and see what percentages yield the successful breaks!
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Keep It Current,
With Novi Fibonacci!
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Keep It Current,
With Novi Fibonacci!
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.