Those are quite different than the way I see breakouts. How are you determining the levels? As I normally draw support/resistance trend-lines and then see the levels, while yours seems to be horizontal?
Also, I don't enter simply on a breakout, but wait for a retrace after a breakout to enter the original breakout direction - this helps to filter out false breakouts and minimize risk by getting a better entry price.
Horizontal lines are only separators period in MT 4. Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts. I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
Mikeman80 posted: Horizontal lines are only separators period in MT 4. Becouse i am not full time trader, i can´t trade classic London breakouts so i trade some like monday breakouts. I open only 2 trade (buy stop / sell stop) per week and then i waiting for PT or SL
I see. What are your usual stop and take profit targets? For example, I've experimented setting the sl at the other side (support or resistance, based opposite of your trade direction) and tp double the range distance, however still haven't found the best setup. Seems like sometimes it works and sometimes it doesn't. Also, I'm thinking maybe averaging in a position, so half a position on a breakout and another half at a retrace to the breakout level - what do you think? (I can provide screen-shots to better explain if that wasn't understood :) )
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