Forex Strategy Daily Breakout System

Forex Strategy Daily Breakout System - another profitable, breakout forex strategy is somewhat similar to the Strategy Forex "10 points on the EURUSD»: being based on exactly the same breakdowns of high and low of the previous trading day, but this strategy is also the additional conditions of re-entry into the market in case of a price reversal, as well as the conditions to enter the market under the flat.

• For trade I recommend to choose a DC FOREX trading platform MT4!
  So, we know about that if the price on the market broke through the maximum (minimum) of the previous trading day, it will behave in one of the following scenarios:
  
  1) will work stop-loss traders trading day intervals (set the stop loss under the low or higher Haya daily candle), whereby the movement of prices, the forex market will continue for some number of points in the direction of penetration - for example, 10 -30 points and the price will go down in to the flat movement.
  
  In this case, the algorithm is implemented forex strategy "10 pips on EURUSD»
  
  2) Once the price breaks the daily maximum (minimum), it is possible that it will turn around and go in the opposite direction.
  
  3) The maximum and minimum will be broken dramatically powerful movement of prices and the price to this level will not return (if the price is not punched its maximum or minimum for a minimum of - 3 days).
  
  Based on the above options, and we will trade on this strategy, depending on the situation in the forex market.
  
  1. Similarly as in the above-mentioned strategies, "10-point ..." we budemvystavlyat 2 pending orders to the previous day's maximum and minimum - 1 th in each direction.
  
  2. Set the take-profit level of 25-40 points.
  
  3. Set the stop loss at the level of 15-20 points.
  
  4. Important: pay attention only to the 1st intersection of high or low during the trading day (ie vsluchae order closing the stop-loss or profit, orders that day no longer put out!)
  
  5. After the price breaks the high or low level and held him fixed number of items - such as 10-15 (depending on the chosen currency pair), we will rearrange our stop-loss orders in the open level bezubytka (or record profits, closing at this 1/2 Sledkov, and the rest of the remaining transactions to transfer to breakeven).
  
  6. Once the order is rearranged to zero and shut down half of the transaction - and at the same level (the level of opening of the transaction - see Figure 2 - fat blue line) exhibited another order, but now in the opposite direction (if the original exposed BAY, CELL is set and vice versa), raschittyvaya the fact that there was a rebound is on the level, and not its penetration.
  
  ATTENTION:
  
  If it is in the notebook Edit the trend, several days in a row can not be triggered pending orders in the direction of the main motion, and usually after a correction, there are strong movements in the direction of the trend (see. Figure 3), ie the body the next day candles perekvyvaet highs / lows The corrective candles . On this basis - have not operated for one day a warrant order will not be removed on the same day, and 2 days after their installation. But if one of the three orders worked, at the end of the day we remove all quiescent orders in this direction (to buy or villages).
  Also, it makes sense to put TURNING order (as in Figure 2), only the breakdown of Extrema only the previous day. If one day worked only one order of 3 buystop orders (or sellstop), the other two orders delivered in the same direction to cancel!
  If the load take profit first order breakdown, the warrant reversal delete!