One Hour Forex Breakout Strategy

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One Hour Forex Breakout Strategy

This system works on a 1 hour timeframe and is applicable to all currency pairs.

Forex Indicators:

  • 5SMA High and Low;
  • MACD (8, 21, 8);
  • Bollinger Bands (2, 20) on RSI (13).

Long Entry:

  • Price must pull above the 5 SMA of the high and close above.
  • Buying signal for MACD.
  • Stochastic must be recently over sold under the 20 and be headed up.
  • RSI must be above the green middle Bollinger Band line and be above the 50 level as well .

Short Entry:

  • Selling signal must be seen on MACD.
  • Price must drop below the 5 SMMA of the low and close below it
  • Stochastic must be recently over bought above 80 and be headed down
  • RSI must be below the green middle Bollinger Band line and be below the 50 level as well.

Exit Position:

Exit trade When the price is 3 pips above o below opposite 5 SMA.

Place Stop Loss at the previous swing point or 55-80 pips away from entry.
Profit Target: On the levels pivot, 50-70 pips.

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