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Trendline Breakout Trading Strategy 

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Trendline Breakout Trading Strategy With Awesome Oscillator
Trendline Breakout Trading Strategy With Awesome Oscillator
Today I am going to tell you about a trendline breakout trading strategy with the awesome oscillator. The bars of this oscillator is used for trend confirmation. To use this strategy efficiently, you should draw trendlines properly.
“Key ingredients” = pre-trading steps:
You can use any timeframe you want.
The strategy is applicable to any currency pairs.
To use it I will need to plot the awesome oscillator to the technical chart.
Now we are ready to learn how to trade with this strategy.
How to buy
Step 1. Draw a downward trendline and wait for the moment when quotes break it.
Step 2. Take a look at the awesome oscillator and make sure that it went into the green area.
Step 3. Place a buy stop order above 2 pips above the high of the candlestick formed right after the downtrend.
Step 4. Place a stop 2 pips below the low of the nearest swing low point (if it’s far away, your stop loss distance can be huge and the strategy could fail to work properly).


How to sell
Step 1. Draw an upward trendline and wait for the moment when quotes break it
Step 2. Take a look at the awesome oscillator bars, they should be red.
Step 3. Place a sell stop order 2 pips below the low of the candlestick formed right after the uptrend.
Step 4. Place a stop loss order 2 pips above the high of the nearest swing high point (as in the case of buying strategy, beware of the distance at wich the nearest swing is located).

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