Saturday, August 23, 2008

Advanced 30 Minute Breakout Trading

The setup is simple. All you have to do is to make note of the high and low price for the first 30 mins of the trading session.

Buy trigger occurs when and if any subsequent 30 min price bar ends above the high of the 1st 30 min price bar.

Sell trigger occurs when any subsequent 30 min price bar ends below the low of the first 30 min price bar.

Stop loss is the opposite side of the trade.

First profit target is the range (high-low) of the 1st 30 min bar.
2nd profit range is 2 times of 1st profit range.

Always exit at the end of the day.

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