Determine HIGH and LOW at consolidation phase. 17 Aug 2021 : High = 1795 Low = 1779
High Breakout BUY SETUP. Swing Fibonacci Retracement from H to L u will find 1.618 as target 1 and 2.618 as target 2.
Low Breakout SELL SETUP Swing Fibonacci Retracement From L (Low) to LH (LowerHigh) U will find 1.618 as target 1 and 2.618 as target 2.
RISK SCHEME. Theres 2 option for Risk Scheme for this breakout strategy. 1. IF we sell, our stoploss must be above 61.8 Fibonacci that we swing from L to LH. 2. IF we sell, we can do a martingale/averaging by condition, and risk scheme are cutloss when confirmed Bullish Breakout.
VICE VERSA FOR BUY SETUP
*Use your choosen Timeframe for confirming breakout