Forex trading strategy #11 (GBP/USD breakouts)
Submitted by User on December 24, 2007 - 04:42.
Credits to James Ayetemimowa - our valued contributor!
GBP/USD
when it is 1 hour to london open, draw lines on the highest high since midnite and lowest low since midnite, just trade the breakout and let ur stop loss be at the high of the candle that broke the low line for short trade and the low of the candle that broke the upper line for long trade
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if any one has a strategies send it to me [email protected]
a very convenient working strategy is the macd on set as 27 10 7. but you have to b disciplined to b contented with 8-10pips per position.
secondly,combining it with SMA 5 and 10, ie were SMA 5 cut SMA 10 towards
thanks
eddie
[email protected]
Hi SM,
Try contacting James by email found below the strategy rules.
If you get a reply, we'd appreciate your comment on it here.
Thank you1
What is your SL with this method? Could we vary the amount of pips targets, depending on market conditions?
Also at what point would we condier cancelling the trade if it has not been touched?
Thanks in advance :-)
SM
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