Learn A Powerful Breakout Strategy In 10 Minutes (Simple & Effective)
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- Опубликовано: 22 май 2024
- In this Forex trading vlog, Etienne teaches you a simple & effective breakout strategy for the Forex market. You'll be able to learn the strategy in as little as 10 mins and apply it to your trading right away. I recommend you test everything I share here so you can familiarize yourself with the stats. This strategy uses only price action and the Relative Strength Index (RSI). Vlog 649
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Chapters:
0:00 Learn a powerful breakout strategy
0:54 Basics of the strategy
1:43 RSI with breakout
2:25 Breakout strategy entry
3:15 Breakout on GBP/USD
6:45 How to take profit
9:51 Breakout on EUR/CAD
12:57 Tricky breakout on USD/JPY
#forextrading #tradingstrategy #breakout
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// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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very cool. definitely gonna try it
Definitely be Backtesting, Forward testing this week, Thank you
Very interesting. I'll definitely backtest this.
Very interesting, thanks!
Awesome strategy, Etienne! Thanks so much, boss! Its always a great pleasure seeing your videos... Keep up the great spirit.
Much appreciated :)
Love easy little setups like these.
I'm glad to hear that :)
Thanks for sharing, I'll definitely try it 🥰
Keep me posted on how it goes :)
Great video.
Great explanation.
I'm glad to hear that!
Wow!! Super duper simple!! Which pairs do you trade this strategy with the most?
thanks really good !
Glad you liked it!
TY very interesting for a beginner like me.
Glad it was helpful!
Great
Thank you
I hope that was useful!
Thank you, what are your RSI settings? Are they the standard?
Thanks E great strategy
Glad to know you liked it, Bruce!
hEY Etienne this is a very great video. Thanks for sharing.
Glad it was helpful!
Are you talking about program trading? Buying late in the trade and selling/shorting late on the down side.
Thanks for this Etienne. I'll test this out too. I've always used the RSI as the opposite to this video so this sounds like fun to test out! Also, what are the tiny triangles on some of the candles? have a great day!
Definitely keep me posted on your tests! The triangles are my reversal setups coded into TradingView.
Great video, do you have a limit for the width of the range?
Not really, as long as the range is clear. I'll just trade it on a larger timeframe if it's too big.
Does these strategy work for xau/usd or not...
Anyone trading this method should be more cautious if the RSI has a negative divergence ! Overall, this is a good strategy
Good point!
0:18 Could it be used on any other markets (i.e. stocks, cryptos)?
Yes the principles would be the same. For stocks, you might want to take only the trades on a high volume. And with crypto you could be less picky, I think.
@@DesireToTRADE what about indices?
What parameters are on the RSI indicator you use?
The basic ones (14 period, limits of 70 and 30)
Thanks
0:08 Where is it?
Thaïland, cambodgia? Else?
Chiang Mai in Thailand
A while ago I actually coded a very similar strategy to this in TradingView that is available to public called "Relative Volume & RSI Pop". The concept is also to open a position once a key RSI level is broken but as long as it is also broken with stronger than normal volume coming in. I built it targeting stock making breakout moves but I guess it would work on any instrument that is prone to breakouts.
thanks for sharing
hi Mate
any recommendations how to back testing it. I really liked it.
I appreciated your help.
regards
JP
Chiang mai?
Yes exactly :)
i have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
This strategy Not working for 8 months now
It's working well on multiple pairs.
do S&R and draw all lines of all timeframes until u get to your trading timeframe... do price action and just go with the volume. no impulse entries, just entries after confirmation... u will get profitable, point.
the best traders dont use indicators for signals
Some great traders also use them. It would be like asking a surgeon not to use tools to measure heart rate because they're "lagging". Indicators are a great way to measure the market objectively... as long as you don't use too many.