EMA Channel Forex Breakout Strategy
This is another breakout strategy that works on a 15 minute or 30 minute chart and is applicable to GBP and EUR pairs.
Forex Indicators:
- EMA Channel
- Box Breakout
Setting Metatrader indicators:
- end hour: 7
- end minute:30
- bars to count:7
- expire after X bar:22
Box Breakout is an indicator for 4 digit but works also with 5 digit.
- Target 1 20 pips = target 2 200 pips,
- Target 2 40 pips=Target 400 pips,
- Target 3 60 pips=600.
Trade only by following the direction of the EMA channel.
For buy entry:
- Wait until the middle band EMA channel is green.
For sell entry:
- Wait until the middle band EMA channel is red.
Set stop loss at 20 pips from entry into the market.
You can also use trail stop.
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