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Forex trading strategy #7 (Simple breakout System)



Submitted by Edward Revy on June 18, 2007 - 07:12.

The idea behind this simple Forex trading system is to capture an early move of the price when it starts to establish its new direction/trend for the day.

As we know the Frankfurt market opens at 2:00 am EST (which is 7:00 am GMT), then an hour later the other giant - London market opens at 3:00 am EST (which is 8:00 am GMT). The European session is the first major session for each coming day.

So, what do we do?
We start with 1 hour time frame, preferred pair - GBP/USD and no indicators.


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Submitted by User on September 18, 2011 - 10:36.

greg secker wants a few grand for this strategy, think he calls it "breakfast trade"

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Submitted by Jose Zabaco on September 26, 2011 - 12:00.

Hi Edward,do you have an MT4 EA for this system??
Regards,
Jose Zabaco

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Submitted by Rockford on September 27, 2011 - 02:02.

Hi Edward,

Regarding using Bollinger Bands to give us a clue on direction of the Breakout, if the 1am EST candle is 1/4 of the way outside the top band (with narrow bollinger bands), in your opinion what would that tell you?

Thanks,
Rockford

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Submitted by User on January 31, 2012 - 08:17.

Hi Edward i am new to forex, i like your strategy, i live in India and it is GMT +5.30 , so as you mentioned here, EST 2 than in GMT + 5.30 i should look at 12.30 pm candle. am i right.
But i am confused about the change in time zone, i heard that few months london shifts to GMT+1 or 1 hr.. It seems very confusing to me, could you please clear it out for me.
Thanks

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Submitted by User on February 11, 2012 - 16:22.

Hi Edward,

Is it still working for you this year?

Thanks


  
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