The 50 Pips Daily Breakout forex system is designed to capture market moves during the overlap of the three major market session hours.
This trading strategy is scheduled for entry between 7am — 7pm GMT, which translates to 10am — 10pm server time on our broker of choice, which is illustrated on the examples below. At this point, all you need to do is to ride the position s through the target session hours of 7am — 7pm GMT.
Chart Setup MetaTrader4 Indicators: Wait for our target market session to kick in. Stop Loss for Buy Entry: Place stop loss 5 pips below immediate support. If price dips lower and hits our stop entry target, we can assume that our exit strategy has been triggered. We recommend the use of trailing stops considering our take profit target is set at 50 pips from entry point. Sell Entry Rules Initiate a sell order if the following indicator or chart pattern takes precedence: If the 7am GMT candle sees price finish bearish close below the session open and also aligns below above the red line of the KAMA indicator as seen on Fig.
Stop Loss for Sell Entry: Place stop loss 5 pips above immediate resistance. If price rises higher and hits our stop entry target, we can assume that our exit strategy has been triggered.
We recommend the use of trailing stops considering our take profit target is set at 50 pips from entry point i. Sell Trade Example Fig. Kama will realign when price swings expands and trail prices from a greater distance. Click Here to Leave a Comment Below 0 comments.
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