Benzinga Workshop Rolf from Tradeciety · •Trading experience: 13 years •Markets I trade: 90%...
Transcript of Benzinga Workshop Rolf from Tradeciety · •Trading experience: 13 years •Markets I trade: 90%...
Breakout MasterclassBenzinga Workshop
Rolf from Tradeciety.com
Who am I?
•Age: 34
• Trading experience: 13 years
•Markets I trade: 90% Forex
• Trading Style: Short-term swing trading
• Trading Strategy: Mostly price action and momentum based. Minimal use of indicators.
Breakouts AreEverything
Consolidation + Breakout connect two different trend phases.
Consolidation + Breakout can also be a trend-continuation connector.
Strategy Premise• Forex is a mean reverting market which means that the price
tends to revert to the mean after a trending period.
• This strategy uses this “rubber band” effect to scan for over-extended trends and then wait for the momentum the trend snaps back.
Trade Selection I: Trend✓ Trend with at least 2 trend waves – preferably 3 or more.
✓ The longer the trend, the better.
✓ Trend must be orderly and not too swingy.✓ The cleaner the better.
✓ No single-wave trends with 1 wave.
Trade Selection II: Exhaustion✓ We don’t pick tops and bottoms and, therefore, we need to
wait for clear signs of exhaustions that the oxer-extended trend is losing momentum.
✓ Exhaustion can come with change in high-low structure or divergences.
Breakout III: Buildup✓ Only breakouts with a full close are tradable
✓ Breakout buildup may improve your chances
Pullback TradingFramework
When do we trade pullbacks?
5• When you miss the initial entry
• When the initial breakout was too strong (large stop)
• As a standalone strategy
Dirty Approach
• Price moves back above/below the breakout area and then
comes back
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