ETHUSD, another opportunity to profit from fake breakouts !

Hello guys, yesterday I made a very nice profit trading fake breakouts using “color options”, today I will try to do the same with this set-up. As you can see, we had a breakdown and then a nice breakout to the upside which went very close to a strong resistance line. This makes it for a strong case to go short as soon as the first red candle forms. As always, I will place bets that the next 10 candles (or majority of them) will be red.

Rules:

1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.

2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.

3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).

Please follow, like and subscribe !

Comment:

First red candle formed, which means we will now place a bet on each consecutive candle that it will be red. We will follow our rules outlined above.

Trade closed: target reached:

As per my plan and rules, I traded 10 candles and placed a bet that each one of them will be red. I was right on 5 trades and lost on 4 (1 trade broke-even). So in the end I made a decent profit ( considering that I get paid fixed 100% profit on winning trades). Thanks for reading and please follow me :)