This trade involved trading the False Breakout Reversal Setup that was taking place on the Daily and 4 Hour Charts last week, amidst the period of risk aversion across markets in reaction to the on going Coronavirus outbreak. This quick and aggressive trade took just 4 Hours in providing me with a 2.00% Rate of Return, just ahead of the Bullish Reversal that took place at Support.
With this result, the new strategy is now up by 23.78% from just 14 trades, pushing me closer to the next major target of a 30% Rate of Return.
As long as we carefully and patiently wait to only trade the setups with a High Probability of Success, large Rates of Return are possible for us in this difficult market.
The main factors related to this trade that you’ll seen in the Manual and in the more detailed Video Analysis available only to my subscribers were:
1. Accurately Identifying Consolidation Setups.
2. Identifying the start of False Consolidation Breakouts.
3. Fast and Strong Bear Crown/Head and Shoulders Patterns can start False Breakout Reversals.
4. Set trade targets within 3 to 5 Pips of Support Price Points to exit comfortably ahead of the expected reversals at these areas.
5. Using Downtrend Lines as safe Stop Loss Areas to protect your trades.
The other major factors related to this trade and the previous trades below include:
1. Trading the most accurate Candlestick, Consolidation and Trend Line Patterns of the Daily and 4 Hour Charts.
2. Trading only the setups (Double Tops and Bottoms, Consolidation Breakouts, False Breakout Reversals) that are likely to move the market quickly to Support and Resistance Targets within 24 Hours, without delay.
3. Never using Statistical Indicators or Economic Analysis.
4. Having the discipline to never monitor our trades.
5. Obeying the trading rules and guidelines to ensure trading success every week!