The Peaky Blinders Strategy (taught to me by the Kane Capital team ) is a Break Hook and Go off the 30 ema .
The rules are as follows
- 5min chart, extended hours off
- Wait for the 9/30ema crossover
- Enter on the first pullback to the 30ema (variations - wait for candle close for the 30ema to hold, or enter on touch of the 30ema)
- Stop Loss is candle close over the 30ema (variations - for more room you can stop at the 34ema)
- Take Profits along the way based on key levels, other ema's, happy with gains, etc.
This indicator follows the above rules, as well as the following
- Does not enter a position after 3pm EST since it is close to the end of the day
- Will wait out the first 15 minutes of market open
- Other checks to try to remove fake outs.
Never use any indicator in isolation. It is important to be aware of key levels of support and resistance and to take profits and manage risk as you approach those areas.
The peaky blinders strategy will often be used to scalp the bounce off the 30ema Retest.