Two out of a dozen
This strategy is second out of a dozen that i will publish .The strategy is based on trading break out in the direction of a trend that is present. One of the most optimal time frames for this strategy is 4 hour. Identify your last swing( high-to-low). Identify the retracement with the help of the Fibonacci tool. Once retracement is over, as the price returns to previously know support/resistance levels, you can trade the break out of it with the help of a very neat indicator that will plot the trade entries automatically for you. I will bring up the example of EUR/USD today. Last 4-hour swing was 1.4720X1.4563. Retracement hit 76.4% @ 1.4682. As the price topped and started to return to the bearish predominant trend, previous break out area @ 1.4330 came back in the picture. From that level we shorted again, looking for 25 pips .
