Simple breakout strategy using Super Signal indicator

Indicator does repaint but if we combine it with another strategy, it still can give us good opportunity on Forex trading. For example on this post I will show you how to trade using a simple breakout strategy using Super Signal indicator Fix distance version 3. This buy sell indicator does repaint badly. But, I combine to use this indicator with my favorite Support and Resistant indicator.

So we need these indicators on chart

  • Super Signal indicator v3f fix distance
  • Support and resistant
  • Bollinger Bands (optional)

Sorry, I do not attach the indicators here but if you like, I will send you via email or simply Googling for those.

Here is the example of this strategy. Buy NZDUSD on 27 March 2014. Please note that usually, I wait the price to touch or close to upper or lower Bollinger Bands and the big BUY or SELL arrow appear first. Before it comes up, I do not trade.

simple strategy-1

See the chart above. On the circled area, we have an UP arrow appear near the lower Bollinger Bands. Its a good signal but I do not enter BUY at this point. Why? Because sometimes this indicator repaint every time new low was formed. So, I wait the price to move up and break the last resistant. See this picture

simple strategy-2

I open my trade only when the price break the latest or fresh resistant (red dots). And I always put my TP on the Fibonacci level 161.8. See how I draw my Fibonacci retracement on that picture.

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5 Comments

  1. Very nice breakout strategy and really enjoy reading your Forex blogs. Can you please email me those indicators? Thanks a lot!

    -Eric from Texas, USA

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