OILFXPRO Euro/usd breakouts 3000 pips p a

Simple Breakout System for EUR/USD
* Determine the 07.00 CET – 8.00 CET High Low on EUR/USD
* Set BuyStop at High + 2 pips and SellStop at Low - 2 pips
* Set Target Price at entry + 40 pips for EUR/USD
* Set StopLoss at entry - 20 pips for EUR/USD and entry . If the other side of the breakout is within 20 pips for EUR/USD then the StopLoss will be that level (Longtrade: SL = Low range - 2 pips = SellStop; Shorttrade: SL = High range + 2 pips = BuyStop)

* Move the SL to breakeven after a gain of 20 pips for EUR/USD

* If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. If the breakout channel is broader then the stoploss first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. There is only one turn per time frame possible.

* At 16.30 CET all orders expiring and close all trades at market.
Use indicator and change settings on indicator

oilfxpro

Would you be interested in sharing this system in the journal section and let us see your trades as they occur on a daily basis?

Good Luck!

Thank you for sharing. you mean ,we set orders only at H/L of one candle. The candle that opens at 7 CET and closes at 8 CET .Am I right ?

I can start a thread and run it for one week .Somebody else has to take over because I have trading to do during day other tasks including devising and testing 5 other systems

Here is an updated indicator and today's entry

Regards

oilfxpro

Yes

Very simple

Also use a minimum 20 pip channel

Regards

Oilfxpro

What time would this be in GMT?