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5 minute Tunnel Breakout - Scalping FOREX strategy

Being able to properly draw a tunnel in forex chart is one of the most important skills a trader can have. Great way to practice this craft, is to identify tunnels in lower timeframe. This is a medium frequency forex strategy utilizing tunnels breakouts to scalp with tight stop loss and high percentage of winning trades.

5 minute Tunnel Breakout - Scalping FOREX strategy

Rules for the forex strategy

Knowledge on drawing trendlines is necessary.

Only major pairs in 5 min timeframe.

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SELL

We draw only support, connecting at least 3 lows within the wave structure of the price. Each one is higher than the previous one.

5 minute Tunnel Breakout - Scalping FOREX strategy

  • By connecting these lows we draw a bottom of the tunnel. Breakout of this boundary will be our entry signal.

  • We wait for standard breakout candle – bearish, penetrating upwards sloping support, closing below it. We enter immediately on new candle open.

  • Stop loss is placed one pip above highest high reached in our signal tunnel.

  • Take profit: Profit that equals distance between entry and stop loss.

BUY

We draw only resistance, connecting at least 3 highs within the wave structure of the price. Each one is lower than the previous one.

5 minute Tunnel Breakout - Scalping FOREX strategy

  • By connecting these highs we draw a top of the tunnel. Breakout of this boundary will be our entry signal.

  • We wait for standard breakout candle – bullish, penetrating downwards sloping resistance, closing above it. We enter immediately on new candle open.

  • Stop loss is placed one pip below lowest low reached in our signal tunnel.

  • Take profit: Profit that equals distance between entry and stop loss.

Notes

This strategy can be used without any additional trend identification

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