Range Forex Breakout Strategy
This is a breakout system where we look at the break of the market from its ranging situation. This works in a 15 minute timeframe and applicable to any of the currency pairs.
Forex Indicators:
- Fractals
- Fractals support and resistance
- IB+OB
- anti-GUBreakout
- Xi- breakout
- Bn levels
- MA Envelope 50
Long Entry:
- The candle of the price breaks and closes above goldenroad line.
- The price must be greater than Xi dashboard line aqua.
Short Entry:
- The candle of the price, breaks and closes below up goldenroad line.
- The price must beless than Xi dashboard line aqua.
- Set stop loss on the 50 MA red.
- Target profit is at 0-60 pips depends by currency pairs:
Recommended: EURUSD 50 pips, USDCHF 40 pips, USDCAD 40 pips, GBPUSD 60 pips, GBPJPY 60 pips, EURJPY 55 pips.
Optional, after 30 pips in gain, move stop loss at entry price.
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