Minimum (maximum) breakout strategy.

Most analysts believe that if the price overcomes yesterday's minimum or maximum, then with a high probability this movement will continue for some time.

The main thing is to create the right trading system, which will guarantee you a profit; this is not as difficult as it seems.

True, one of the disadvantages will be the infrequent opening of transactions, because a breakout of extremes does not happen every day, which means that the conditions for opening a transaction may not arise.

Trading is carried out using pending orders, the principles of placing which are quite simple, the main thing is to place the stops correctly.

1. Analyze yesterday's trading and determine the high and low prices for that time period.

2. Place a sell stop 10 pips beyond yesterday's low and a buy stop order 10 pips beyond yesterday's high.

3. Set a stop loss 15 pips before the order opening price, depending on the order type.

4. Set a take profit at 25 pips.

5. To reduce losing trades, it is also recommended to set a breakeven script ; it compensates for the consequences of false breakouts by moving the stop after the price reaches the level you specified.

Overall, the strategy is quite effective; its only drawbacks are the infrequent opening of trades and the occurrence of false breakouts. The latter is mitigated by the stop loss and take profit sizes and the script provided above.