Forex London Breakout Trading Strategy
Forex London Breakout Trading Strategy;
1. Open a 15 min Chart for a GBP/USD
2. Draw a vertical line at 04:00gmt time on your GBP/USD Chart.
3. Draw a vertical line at 06:00gmt time on your GBP/USD Chart.
Please note the charts shown here are on FXDD which is GMT+2. So the lines appear on the chart at 06:00 and 08:00
4. Draw a Horizontal line at the high of candles/bars in between the vertical line.
5. Draw a Horizontal line at the Low of candles/bars in between the vertical line.
6. Add a 89 ema (exponential moving average) to the chart.
Sell Trade
If the 89 ema (the blue line) is above the box place a pending sell order (sellstop) 5 pips below the bottom line of the box. Set your stop loss at 15 pips and your take profit at 75 pips. When you are 20 pips in profit move your stop to break even.
Buy Trade
If the 89 ema (the blue line) is Belolow the box place a pending buy order (buystop) 5 pips above the top of the box. Set your stop loss at 15 pips and your take profit at 75 pips. When you are 20 pips in profit move you stop to break even.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex London Breakout Trading Strategy?
- Download Forex London Breakout Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex London Breakout Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
