Campeones de Carranga

My FXBook Contest

Estrategia sencilla para Breakouts

Chart Setup
For the entry rules, we need two basic indicators:
● CCI 20 (Commodity Channel Index, Period 20, Typical Price) 
● The Wave (EMA34 High, EMA34 Close, EMA34 Low) The second one actually consists of three exponential moving averages, but we will treat them as one indicator called the Wave. We will call the moving averages Wave-top, Wave-middle and Wave-bottom. The set-up for MetaTrader 



















Entry rule
Buy
First,  Be sure that the market is trending up. Beware from the sideways market. The Wave is a great tool that helps us to determine the trend.
Trend definition: Uptrend: The price has already crossed the Wave upward and the price is above the Wavebottom at this moment. Downtrend: Similarly, the market is trending down if the price is below the Wave-top. 

Rules
1. Price was above the Wave for some time. (above the Wave-top) 
2. Price entered the Wave. Price was above the Wave and then crossed the Wave-top downward.
3. CCI crossed +100 line upward; A POSSIBLE LONG ENTRY SIGNAL on the next candlestick opening. This is a good signal to go long on the next candlestick opening. But be careful... 
4. "Five bars check” rule. Check that CCI was below the +100 line for at least five bars before the cross.
5. Check that the market is trending up now. Check that the price is above the Wave-bottom as in the first rule. 
● Buy now! If all above has fulfilled, buy as the new candlestick opens.

The same rules for selling !

Principios del Trading

Los tres errores mas comunes de un trader