Always remember your SL. No strategy is a fool-proof. As I have said in the past I choose weekly candle for SL, though wide. The daily may easily get triggered during retracement. And so I take a very small lot size because of my weekly SL

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Just follow the AUDNZD and at the end if bullish you will get better understanding. I have two positions already, based on resistance breakout

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Sanbernadin, i will be updating the AUDNZD, even if the weekly has not closed.

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Before the week end. If today or tomorrow bullish candle closes above upper band opportunity for me to get in again even though the weekly candle has not closed for the week.

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If we talking about another trade strategy that's different

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I understand what you mean. It will be late. Since we're taking positions on the daily as long as the daily has closed above upper band and the weekly has not come to the end of the week, but already above middle band we can get in. I know what you ...

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Here are the charts

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We already have live practical example to follow now - AUDNZD. Same week now- the weekly already trading above middle band and the daily moving towards the upper band. If it can close above the upper band I will take two more positions. Already I ...

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It may continue bullish without a retracement, but it's risky. I repeat it must the same week that both the weekly closing above middle band and the daily closed above upper band

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Another very important point- when the weekly has closed successfully on Friday and none of the bullish candle was able to close above the upper band on daily until the following week, we better stay away. This is where we get hit my retracement.

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If while the weekly is closing above the middle band, the daily fails to close above the upper band, it may not work if we get. This is because there might be upper band rejection by the bullish candles- refusal to close above upper band on the daily

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I believe I have said this before- it must be the same week that daily closed above upper band when the weekly closing above the middle band

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I continue to check how trend began with old price movement. They're consistent with the same weekly and the daily movement I have been sharing.

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Hi Sanbernardin, if you're still not clear let me know. I decided to use the current movement on AUDNZD just as you watch the chart for better understanding

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I called it a second chance because the resistance breakout has already offered first opportunity. Am already bullish. I will share the chart later

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It would be clearer to you with AUDNZD movement now. The weekly already opened above the middle band, but the daily is yet to close above upper band. When the daily closed above upper band chance to get in - second chance

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After going through all the charts I observe that all JPY are forming Bollinger Band squeeze following the the strong move. Traders, for fear of loosing their good profits they have made, are collecting their profits. They would certainly resume and ...

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Thank you for joining us here on this thread.

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Another way to trade this breakout is when the first candle comfortably closed either below the lower or upper bands on the daily chart.

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I decided to check the of direction of Stochastic Oscillator on 4hr. You would observe that Stochs is already going overbought region. If it can break the resistance while Stochs is overbought we might know the direction of the movement

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