Intraday Forex Breakout Strategy
This strategy is said to be a real intraday strategy that find the direction of the price. This works on a 15 minute timeframe. You can use this not just in Forex but also in indices,
Forex Indicators:
- MA Parabolic st 2.1 ( MA 14, Parabolic 0.1 – step 0.11);
- Price action channel ( EMA 3 high – EMA 3 Low);
- T&C Wonders;
- Breakout Box, (Start 03:00 – End 18:00);
- Breakout Daily Targets;
- ITM Signal (14, Cycle 5);
- Flat Indicator (default setting).
Buy Entry:
- The price must be in the price action channel and breaks up the box.
- Buy if ITM Signal is green, Flat indicator is green and the price is above the MA parabolic indicator.
Sell Entry:
- The price must break downward the box and the price is into the price action channel.
- Sell if ITM Signal is red, Flat indicator is red and the price is below the MA parabolic indicator.
Re-entry is optional but you can do it in the same conditions above.
Exit on the daily targets.
Place stop loss on the previous high/low swing and move stop loss at the break even with 15 pips in gain.
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