Day Trading with the Volume Weighted Average Price: VWAP Breakout Entry Trade Setup 📈

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The VWAP breakout entry trade setup with distinct rules. http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! You probably know that I like the VWAP indicator as a day trader. What is the Volume Weighted Average Price? VWAP stands for volume weighted average price. I know that a lot of algos are programmed based on the price relative to the VWAP, and I also know that a lot of funds would be looking at it. The rules of this setups are;

1) the current range has to be less than the ATR on a 14 period setting.
2) Not in 1st or last hour.
3) Price has spent over 70% of the time on one side of the VWAP
4) Buy on a 5 minute candle close above VWAP
5) Stop = Low of Candle x 1.5
6) Target = Closing Bell.

Don't sell yourself short on this trade. Because the probability of success is slightly lower you don't want to be taking 1:1 risk:reward ratio. Again we are using VWAP as a benchmark; as a kind of line in the sand that once breached we are assuming that the continuation is going to happen.

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  Forex Trading