Trend following breakout strategy - M5 US session zigzag breakout strategy

 This is a brief summary of yesterday strategy.  Please be reminded that you have to do enough backtesting before using the strategy.

Indicators:

Fisher’s transform MTF

Zigzag

 

 

Timeframe:

Xau M5 US session

  

Strategy:

1.      During US session, follow the trend direction using Fisher indicator

2.      Find the Support & Resistance level (e.g. the candle with long shadow) using the zigzag indicator, set buy stop / sell stop

3.      Is the trend strong or weak?  Strong trend: TP 450 SL250  Weak trend TP 250 SL 250

4.      If SL is hit, we will have order B (may be in different lot size) to trade in the opposite direction using another S&R level  We use order B to at least recover the loss in the first order.  
(Lot size recommendation: 0.3 to 0.5 lot for a 10,000 USD account)