Zig-zag_ break out M5 stretegy

Tinojazz

Professional Trader Since 2007
VIP Member
2-3 trades at day.
Clasic Zig-zag from custom indicators MT4, settings : 6/5/3
Working time from Frankfurt open till London close.
Draw trend lines from 2 bottoms and 2 tops how can you got 4 waves and wait for break out.
For Exits use fibonacci retracement but you must add this numbers in add levels: 78.6 ( 0.786) and 127 (1.27)
Fibonnaci retracement you will draw from last top /bottom to last bottom /top
after break out.
Iff break out is bellow 78.6 fibo more than 15-20 pips then use that number for TP1, after taking firest target modify your SL at 0(BE) and set other 2 targets at 127 and 161.8 fibo.
Iff break is above 78.6 and bellow 127 fibo then add your targets at 127 fib, 161.8, and eventualy if trend is strong at 261.8 fibo.
Use discipline,psihology and good MM.
Any questions welcomed :)

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Tinojazz

Professional Trader Since 2007
VIP Member
Looks good. How often do you redraw your lines?
About 6-7 times at day, redrawing after new confirmed zig zag. today only one trade on GU with success. And that is all for today.

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Tinojazz

Professional Trader Since 2007
VIP Member
Here is chart from EU and was falshe signall becouse breaked candlle was closed right at 127 fibonacci R level. Better chanse tommorow:)


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scwon

Member
Even though you say it was a false breakout, this is the trade I took.
It reached above 1.68, then retraced back to 1.68 where I exited.
Wasn't much, but it was winner for me.
 

Tinojazz

Professional Trader Since 2007
VIP Member
Again one trade today, enough for today, this time M5 has no signal,but M15 was perfect.
88 pips last target.

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alijilani

Member
About 6-7 times at day, redrawing after new confirmed zig zag. today only one trade on GU with success. And that is all for today.

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tinojazz can you please upload pictures again, i am unable to understand exactly fibo trendlines u told.
thanks
 

eddie70

Member
hi Tino can u post a pic. of that i just can get that i got the zig zag part rest can not figure it out it look very interesting technique or is it possible to make it as a template & work on it ur help is appreciated :)
 

vinhlp

Member
Hi Tinojazz, I like your method. See the picture, correct me if I?m wrong.
Thks!
Vinh.
 

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Tinojazz

Professional Trader Since 2007
VIP Member
Hi Tinojazz, I like your method. See the picture, correct me if I?m wrong.
Thks!
Vinh.

Yes, exactly that is it, very easy and professional! Also you can use MTF, worjing per every timeframe, so if you are in negative pips on M5 and if you see that we have simular break out on M30 or H1, H4... then you can add one more order in that side! Lets post every day true trades and trade some like live with system!
 

vinhlp

Member
Hi Tinojass, Thks for quickly reply.

The picture is my trade (demo) this morning. I use trailing stop and was kick out at 1639.9, very near TP2! Not bad!

"...if you see that we have simular break out on M30 or H1, H4... then you can add one more order in that side! Lets post every day true trades and trade some like live with system!" --> so, this method is not limited in TF 5M?
 

Tinojazz

Professional Trader Since 2007
VIP Member
Here was the 17 pips before 2 minutes!, Now we should turn chart on M15 and wait signel there for another short!
 

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Tinojazz

Professional Trader Since 2007
VIP Member
Here is what we wait for now nex, sure if price will go down, or other case can be long on M5 again!!!
 

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Tinojazz

Professional Trader Since 2007
VIP Member
And also we can use this kind of break , now live examplle on H1
 

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Tinojazz

Professional Trader Since 2007
VIP Member
And other case, i think its clear for understanding!
 

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Tinojazz

Professional Trader Since 2007
VIP Member
EU H1 TP1 taken, added sell limit new, and GU M5 before...
 

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Tinojazz

Professional Trader Since 2007
VIP Member
We got it all today, was easy and dont need to trade anymore!
EU - 17+24+35
GU +30
UCHF + 30 and one active with BE

Train your self and you will feel by time how its easy, watch on MM abd do 1-2 trades per par in day,not more!!!

have a best weekend!
 

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