Breakout, Pullback, Continuation Pattern

I would like to share an effective way of trading. It is simple and very profitable with excellent risk reward ratio. It is trading using Trendlines & Chart patterns. I focuses on QUALITY trades, NOT QUANTITY. Less trades but quality trades is the best way of trading.





1st: You need to identify channel.
2nd: Look for a breakout.
3rd: Look for a pullback testing the trendline.
4th: Enter the trade after the pullback, and put the stop loss 5 pips behind the pullback.
5th: Profit target – Calculate the size of the channel

Comments

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