Breakout System from European Session
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Breakout System from the European Session
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My strategy:
tarde EUR/USD
take the high and the low of the European session from 03:00 EST to 08:00 EST
this is your breakout channel
+ 5 pips "stretch" to the high
- 5 pips to the low
ENTRY:
this is your trigger: when price CLOSES above (or below) open a position with 3 lots (market order).
SL at the low (or high) of the candle that triggered the entry
EXIT:
Close 2 lots when 20 pips profit
SL at breakeven and exit the 3rd lot (if not stopped) at NY market close.
When the European session has been flat (20-40 pips range) there is a great chance that we have a good breakout for 20/30 pips during the NY session.
I would like your view and comments if you have time to look at this simple but effective strategy
All new ideas welcome!
traderix