Hi all,
I would like to get your input on a breakout strategy I've been looking at. In fact, backtesting this strategy shows it can make 400 - 600 pips per month!
This is the setup:
Open EURJPY H1 chart. Make sure your "period separator" lines are showing. Now, the breakout is below and above the 00:00 candle. This means you can place buy and sell stop orders at 01:00 GMT. Your orders should be at the high and low of the 00:00 GMT candle.
TP = 70
SL = Other side of box
I've backtested since October 2009 and it looks very profitable!
Would like your feedback.
Thanks,
I would like to get your input on a breakout strategy I've been looking at. In fact, backtesting this strategy shows it can make 400 - 600 pips per month!
This is the setup:
Open EURJPY H1 chart. Make sure your "period separator" lines are showing. Now, the breakout is below and above the 00:00 candle. This means you can place buy and sell stop orders at 01:00 GMT. Your orders should be at the high and low of the 00:00 GMT candle.
TP = 70
SL = Other side of box
I've backtested since October 2009 and it looks very profitable!
Would like your feedback.
Thanks,