Forex Technical Analysis Day Trading & Scalping 15 Minute Break-out Strategy

In this streaming video, Phil provides the outline of a trading strategy he uses regularly for trading the forex market.

In this example, he demonstrates a simple break-out strategy on the Eur/JPY pair using 15 minute charts, but his interpretation of the charts, using price action and candlestick analysis, can be applied to many other price patterns across the currency pairs.

He details his precise method for identifying and trading this set-up, including:

• when the set-up is most likely to appear
  
• why you should avoid taking the trade on the first break-out
  
• where to place a stop-loss and why you should resist the temptation to move this to break-even at the first opportunity
  
• how candlestick analysis can be used to support the entry decision
  
• where to exit the trade.

Click here to view the video (will appear in new window).

Further examples of Phil's trading strategies can be viewed at www.trading-strategies.info

 

[robnfc]

hope this answers your question

On September 16, 1992, Black Wednesday, Soros's fund sold short more than US$10 billion worth of pounds,[27] profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.
Finally, the UK withdrew from the European Exchange Rate Mechanism, devaluing the pound sterling, earning Soros an estimated US$1.1 billion. He was dubbed "the man who broke the Bank of England."[31] In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.4 billion.
On Monday, October 26, 1992, The Times quoted Soros as saying: "Our total position by Black Wednesday had to be worth almost $10 billion. We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell."

 

[philippe07024]

Link to video does not work. Tested 11/04/2011

 

[goevenu]

About your profit target

Thank for sharing with us. BTW, how did you find your target of 132.85 ? Is there any technical indicators u used or it is just an intelligent guess? cheers

 

[addy123]

Hi ;

A great video. Can you please tell me why have you decided to sell short?
You mentioned entries below low range or better/ above high range or better.

Are these for Buy/Sell respectively? I am a bit confused

 

[Newtron Bomb]

Re: About your profit target

Thank for sharing with us. BTW, how did you find your target of 132.85 ? Is there any technical indicators u used or it is just an intelligent guess? cheers

Hi There, targeting is mentioned in the original article here - http://www.trade2win.com/boards/for...68-phil-newtons-range-break-out-strategy.html

I also use ATR for calculating targets these days

 

[Newtron Bomb]

Hi ;

A great video. Can you please tell me why have you decided to sell short?
You mentioned entries below low range or better/ above high range or better.

Are these for Buy/Sell respectively? I am a bit confused

I could be wrong as it was recorded in 2008 but Im quite certain the video talks through a long entry..

If I discussed a short set up its most likely because price was going down and broke the range lows. simple huh!

 

[addy123]

Actually the video doesnt discuss long entry, and you sold short!!
The graph shows overall trend was up, and then moved in ranges..

 

[Newtron Bomb]

the updated article and video is as I posted above... Ive asked the people at T2W to correct the article and have not done so which is why I posted the article and updated video in a separate thread.

As to why I sold short, its as I said, price went down... doesnt get any simpler than that

 

[ChocolateDigestive]

lol. how many 1000's of demo pips have you made this month.

 

[addy123]

Newtorn, i know the price went down im not blind I mean was selling short your strategy from the beginning? Or you waited for breakout and then for the change of direction signal?(Entry)

Cheers

 

[sylvester.augustine]

A really great article and video - simply explained, (no confusing jargon or terminology). As a rookie I need every understandable tip that I can lay my eyes on to succeed.

 

[trader2011]

15 minute breakout strategy

Great video. Very clear explanation with precise entry and exit levels. Very useful for a newbie trader like myself. Can't wait to test if for myself when I start paper trading.

Thanks

 

[BrokeMike]

crap

Not very creative and I doubt it actually works

 

[pass4sureguide]

appreciate...nice information...


pass4sureguide