Breakout Trade

Follow the white dotted vertical line which is the start of trading day. Wait for 4 candles, ie 4 hours later. After that draw a channel between the highest and lowest of the bodies of the candles.

Wait patiently for a breakout of prices out of the channel - purple color lines.

The first trade was a breakout for a long trade. Price went up but did not have the power to move higher. It retraces. No worries, just close the trade for a break even.

Wait again for another breakout. This time is a short trade. After the breakout candle closed, open a short trade at the next candle. Wait for price to go further down and at a good point, close the trade with a profit of more than 40 pips.

Enough for the day.