Consolidation breakout by al shahba

1. Al Shahba

1. It depends on the rectangle of price movement and can be easily determined from the chart.
2. Wait for at least 3 peaks and troughs to be within the rectangle
3. Valid for all timeframes and time pairs. But based on experience we add some additional rules
4. If the price is likely to move at least 40 points it is a strong opportunity.
5. After drawing the rectangle, the price should not extend beyond 1/2 the height of the rectangle
6. Counting will start from the price inside the rectangle and touching the border edge
7. After the 5th or 6th count, the 8th count will place sell stop and buy stop orders on the upper and lower edges of the rectangle.
8. SL will be on the other side of the rectangle TP will be equal to the height of the rectangle and at some point we close at 75 -60% of BE
9. We will use multiplicity 1 2 4 8 16 until reaching the target or starting from the 5th multiple

http://www.arabictrader.com/vb/attac...80496-rect.gif