Forex Fade Break Support Resistance Trading Strategy

Forex Fade Break Support Resistance Trading Strategy:

Time Frame

The fade the break forex strategy works with the 15-minute (M15), 30-minute

(M30) or 60-minute(M60 ) candle.

Currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD NZD/USD.

Forex indicators

This forex strategy is not using indicators based on mathematical algorithms. but only indicators price action support and resistance.

Reccomended indicators:

Pivot points levels, Fibonacci retracement, Static and dynamic support and resistance.

Strategy details

Markets often reverse after a failure to break above the resistance level or below the support level. At the resistance level, the failure is characterized by the shadow of the candle that goes above the resistance level but fails to close above it. Subsequently the price falls back below the resistance level. At the support level, the failure is characterized by the shadow of

the candle that goes below the support level but fails to close below it.

Subsequently the price rises above the support level.

Long Entry

Identify the support level.

2. Identify a candle that has a shadow that goes below the support level.

3. Wait for that candle to close as a bull candle. This is called the falsebreak

candle. (See picture 1 .)

4. Enter at the opening of the next candle.

5. Set a stop loss of 5 pips below the low price of the false break candle.

6. Set two profi t targets for this trade. Set the two targets at a risk to

reward ratio of 1:1

Short Entry

1. Identify the resistance level.

2. Identify a candle that has a shadow that goes above the resistance level.

3. Wait for that candle to close as a bear candle. This is called the falsebreak

candle. (See picture 2 .)

4. Enter at the opening of the next candle.

5. Set a stop loss of 5 pips above the high price of the false-break candle.

6. Set two profi t targets for this trade. Set the two targets at a risk to

reward ratio of 1:1.

In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.

For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.

How to install Forex Fade Break Support Resistance Trading Strategy?

• Download Forex Fade Break Support Resistance Trading Strategy.zip
• Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
• Copy tpl file (Template) to your Metatrader Directory / templates /
• Start or restart your Metatrader Client
• Select Chart and Timeframe where you want to test your forex strategy
• Load indicator on your chart

How to uninstall Forex Fade Break Support Resistance Trading Strategy?

To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.

Download Free Forex Fade Break Support Resistance Trading Strategy