I’m working my way through price action and I’ve just finished learning something called the last kiss breakout pattern. If anybody is familiar with this could you let me know if I have identified an example of such a pattern below? The actual breakout candle being the one I have drawn an arrow against, in this example I would have put a sell on just below the low of that particular candle.
I trade a similar way,however you identified the zones a bit wrong,i dont know about you but the zones i look for have a lot of trading volume and while your example does appear to have a fairly strong resistance,Looking at the zone below it,the support is not as strong.It seems like you are trading a breakout,so try practicing your zones they are really important.I use them to determine market psychology and trade volume.Looks like you are using them to trade breakouts.It would be better if you esplained the strategy in a bit more detail.Sorry for my crappy english.
you shouldnt trade this system in any timeframe less than the 4 hours frame. you can adjust your RR ratio to the 4 hours and have the same earnings on less trades with a higher sucess rate.
the zones are close to useless on the 1 hours charts and too random to capitalize on them. daily candles is the optimal for using this way of trading. a combination of weekly daily and 4 hours charts have the highest ratio of accuracy in which you determine direction in the weekly, zones in the daily and potencial continuation zones on the 4 hours chart.
always watch out to the far left. this system relies heavily on near and long term history.
and by the way it isnt called “last kiss” whoever told you that name should shoot himself.
edit: jist saw this is a 5 years old and death topic. so nevermind me posting.
