TouFrancis

GBPUSD:Inside Bar breakout

Short
FX:GBPUSD   British Pound / U.S. Dollar
Hi guys,

Some ways to avoid false breakouts is to trade in the direction of the trend close to the EMAs. Don’t
buy into major resistance or sell into major support without a very good reason. With price squeeze
patterns, wait for a candle to close outside the pattern, confirming a breakout instead of just buying
or selling breaks as they happen.

And
we don’t want to enter trades that are triggered using the breakout entry
method during early Asia, as they are simply dangerous and have a poor chance of working
out. False Asia breakouts are usually the catalyst for the creation of the Outside Bar
signal. Price breaking out in one direction then snapping back closing on the other end of
the previous candle…

Good Luck!!
Have a GOOD TIME.
Trade closed: stop reached
Comment: Personal record

-Important details-
#1.All structure are only valid signals when reacting with important areas marked on your chart,for example: major support and resistance levels, the EMAs, range tops and bottoms,swing highs or lows, and significant trend lines.
#2.Some ways to avoid false breakouts is to trade in the direction of the trend close to the EMAs. Don’t buy into major resistance or sell into major support without a very good reason. With price squeeze patterns, wait for a candle to close outside the pattern, confirming a breakout instead of just buying or selling breaks as they happen.
#3.after an Inside Bar forms, the setups that don’t retrace past their 50% level before the breakout work the best. This rule mainly applies to Inside bars that have a body which take up the majority of the whole inside bar range
#4.Ignore the breakout signals in Asia,Because they are dangerous,So be sure to set breakout entries closer to London time when you know the true price movements are more likely to occur.
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