Optimus Channel Forex Breakout Strategy
This strategy works on a 15 minute timeframe and is applicable on a GBPUSD pair. Just do one trade a day.
Open a trade in a gray area or paramount ended at 08.00 GMT or London Market starting time.
Paramount initial time set at 00:00 hours GMT and indicate the start of the market.
Draw the Tunnel on line mode, formed by two lines that draw as parallel straight line.
Switch to bar mode. The Lines just have two alternate forms based on HL today.
The focus must be on the following entry:
- Daily Average and High-Low today.
- Area of Support and Resistance Levels.
Rules for Entry:
- Open a position after the candle closes.
- When prices penetrate the canal which is expressed as breakhigh or break low starts at the London Open.
- Wait for the candle to close twice in a row in the same direction, especially when trending market/determine breakout continuation.
Place Stop loss at the open price of the last previous closed candle or last two candles or three candles. Make sure you have at least 10 pips stop.
Exit Position:
Using Trailing Stop (5 Level)
Target 1 : 30 pips (Locked at 10 pips)
Target 2 : 50 pips (Locked at 30 pips)
Target 3 : 70 pips (Locked at 50 pips)
Target 4 : 90 pips (Locked at 70 pips)
Target 5 : 110 pips (Locked at 100 pips)
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