Fractal Breakout Forex Support and Resistance Strategy
This is a price action system that uses breakout of the high and low. This works on a 5 minute timeframe or higher
and applicable to any currency market.
Forex Indicators:
- Exponential moving average 11 period close,
- Exponential moving average 50 period close,
- CCI NUF 4,
- De Mark Trend line trader,
- Mouteki-De Mark Trend new,
- Fractal support and Resistance,
- Filter indicator with Smoothed moving average 4 period.
Buy Entry:
- EMA>EMA 50 or price above EMA 11 and EMA 50.
- Wait when the price close above the resistance of the fractal breakout indicator, then buy.
These are the conditions:
- Breakup the trend line,
- CCI Nuf histogram green color,
- Filter histogram above the Moving Average
Sell Entry:
- EMA<EMA 50 or price above EMA 11 and EMA 50.
- Sell whe the price close below the resistance of the fractal breakout indicator.
These are the conditions:
- Breakdown the trend line,
- CCI Nuf histogram red color,
- Filter histogram below the moving average.
Exit position:
- Place initial stop loss above/below support and resistance.
- You can use the profit target of the trend line.
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