通过回调交易 SR 突破 (Trading SR Break with pullbacks)

Hello everyone

I have been looking at this way of trading for a while and it looks promissing on any timeframe. I started of on 5min then worked it up to 4H and it realy looks if this can be profitable. I would like to know if anyone is trading this way and if anyone has some ebooks on this.

This is how it works:

5min Trade:

This example we had a range channel on the pund. at 7gmt we draw ower channel or trend lines and wait for break.

@ 9:40 gmt we had a break "Close below" the support after wich the market had a bull candle. Now, the Trigger line is the low of close of the candle the closed under the support "the 9:40 candle in this case"

a Sell order was placed at 1.9511 and the 10:00 gmt candle triggered the short entry with a SL at 1.9531. I was looking at taking 34 - 40 pips target but if a new Trendline is taken out with a pullback and trigger, i would just close for the day.

4 Hour trade:

This is a recent trade, we had a triangle and then a break. Now we wait for a pullback of 1 or more bull candles. We found 1 and placed a sell on 1.9427 with a 50 pip SL "note that it is 4Hour chart". A target of 200 points is nicly met.

I will be posting a 5min setup in the mornings as i get some time. I like the 5min setup better as there is a 40 pip trade every day.

Keep well
Jk