Strategy Breakout Three Candle This strategy belongs to "Junaedy Go" which was discussed on the closed Facebook group. The words I show below I quote directly from Junaedy. This strategy utilizes the third candle from the MT4 separator. The type of strategy is a breakout.
Open Position Strategy:
Time Frame: H1
Pair: xxxJPY
Aggressive:
Place a Buy stop on the high candle line Install Sell Stop on the Low candle line
Conservative:
Wait for the candle to break or close the candle outside the line and then do the op in the direction of the candle that managed to break the candle candle line.
Troubleshooting:
Not all market movements are always trending, there are times when sideways which means that the candle can only go back and forth in the third high and low candle area. The step to overcome this problem is to do a mate hedging.
Addition from me according to experience:
1. Spread a maximum of 3 pips
2. Based on experience, I prefer to wait for a candle break low / high, just OP
3. After the OP is done, you must install PO BUY / SELL STOP with a distance of 15 pips from the op the first (Especially the first meaning BUYSTOP PO: 15 pips + spread.
4. Pending Order (PO) with the marti system
5. Stop losing 15 pips, take profit maximum 20 pips
6. Don't trade again after take profit is touched
I have also used the technique for a long time, I usually use it in two pairs, on usdjpy and eurjpy. Different brokers can also vary their take profit time and entry level because spreads also have an effect. If you use an aggressive method it is rather vulnerable if the market is sideways will often cut marty switches, but the advantage is that the market is trending to get the best price and can be quick about take profit. But depending on each trader, you want to use an aggressive or conservative way, the most important thing is to still consider the possible risks that he will be able to deal with and certainly be able to profit. Stay disciplined only in use of money management and risk management.
