Jul
8
2009

15 Min Breakout July 8

This morning really didn’t turn out too great, with the release of the US oil reports this morning price action wasn’t as fluid as I like it to be. I thought I would be able to at least get a few pips early but besides the GBPUSD hitting my TP 1, it turned into a pretty big loss of around 120 pips. Nothing too bad but still hurts, when I knew price was not trending how I like it too.

I did notice that by moving the second line to the 1400 GMT instead of 1300 GMT I would have actually missed the false spikes and made some decent profits today. I will experiment with that for a bit and see what happens.

While this breakout is more high maintenance than the 4H breakout it is way too profitable to pass up, once tweaked I feel like it could easily be a huge compliment to the 4H strategy.

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