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CCI Forex Breakout Strategy
This is a breakout strategy that focuses on a 15 minute timeframe or higher and applicable to all pairs.
Forex Indicators:
- CCI 20 (Commodity Channel Index, Period 20, Typical Price)
- The Wave (EMA34 High, EMA34 Close, EMA34 Low)
- Uptrend: The price has already crossed the Wave upward and the price is above the Wavebottom.
- Downtrend: The price is below the the Wave-top.
Long Entry:
- Price must be above the wave for some time.
- Price entered the Wave.
- Price is above the wave then it will cross the wave-top downward.
- Enter long on the next candle when CCI crosses +100 line upward.
IMPORTANT REMINDER:
- CCI is below the +100 line for at least five bars before the cross.
- Market must be trending up.
- Check that the price is above the wave-bottom as with the first rule.
- Buy at opening of the new candle when above conditions are met.
Short entry:
- CCI must crossed the -100 line downward.
- The candle must close below -100.
- The market must be trending down.
- The price must be below the wave-top.
- Have a valid swing pattern.
To exit position:
- Place the profit target at Fibo Pivot;
- Stop Loss at level meddle wave.
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