London Open Forex Breakout Strategy
Table of Contents
- 1 London Open Forex Breakout Strategy
This is a breakout strategy that uses a 15 or 30-minute timeframe. This is applicable for EURUSD, GBPUSD and AUDUSD pairs.
- Breakout Box 4 London Open,
- Buy Zone Fibs;
- Sell Zone Fibs.
- FX Fisher mod indicator (10 period set signal true);
- FX Fischer mod indicator (25 period set signal true).
Rules for this Strategy:
The box start at 2:00 GMT and the end is 7:45 GMT. Because the candle at 8:00 GMT ( London Open) must be the first candle outside the red box.
- The Price must be above the blue line Buy Zone Fibs.
- FX Fisher mod indicator (10 period ) is green
- FX Fischer mod indicator (25 period ) is green.
- Place a pending order +2 pips above the Breakout Box 4 London Open.
- The Price must be below the red line Sell Zone Fibs.
- FX Fisher mod indicator (10 period ) is red
- FX Fischer mod indicator (25 period ) is red.
- Place a pending order +2 pips below the Breakout Box 4 London Open
- Target profit must be 20-25 pips.
- Set initial stop-loss at 20 pips. you can move SL to break even when you gained 12-15 pips.
- Trail stop is another good idea to exit. trail it about 25 pips and a close position at end of Day or with a profit target of 40-50 pips.
Forex Trading Strategies Installation Instructions
London Open Forex Breakout Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
London Open Forex Breakout Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
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How to install London Open Forex Breakout Strategy?
- Download London Open Forex Breakout 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
- Right click on your trading chart and hover on “Template”
- Move right to select London Open Forex Breakout Strategy
- You will see London Open Forex Breakout Strategy is available on your Chart
*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.
Click here below to download: