Range Breakout Forex Strategy
1. Open a 15 min mt4 Chart for a GBP/USD
2. Draw a vertical line at 7:00 am (EST=NY time) time on your GBP/USD Chart.
3. Draw a vertical line at 9:00 am time on your GBP/USD mt4 Chart.
4. Draw a Horizontal chart line at the high of chart candles/bars in between the vertical line.
5. Draw a Horizontal chart line at the Low of chart candles/bars in between the vertical line.
You can put a pending buy stop at the high and sell stop with a stop loss at
the low (If you are buying) and stop loss at the high (If you are selling). But We usually trade
and place the orders manually.
The 15 min GBP/USD Range Breakout forex strategy in action.
Always place a stop loss(SL) order 15 pips below or above your entry point. As an example,
if you sell at 1.6200 – you must put a stop loss order at 1.6215 ( to protect your money )
Targets: Around 20-60pips or no targets if you think it can go more.
Trailing Stop of 15 pips, if you’re using it.
You can read about pending BUY STOP, STOP LOSS in youtube…it is straightforward!
1. There are only nine candles/bars in the 15-minute chart, between 7:00-9:00 am.
2. If the Distance between the chart high and low is less than 50-60 pips, it could be very
profitable.
3. If the Distance between the chart high and low is more than 50-60 pips, it could not be very profitable.
4. If the price doesn’t break the chart high/low, it’s a ranging market.
5. All Market news is usually released around or after the 7:00-9:00 am phase.
6. The entry signals are only valid for the current day; you must
wait for the 7:00-9:00 time and nine candles again the next day.
You can try to use this system for other FOREX pairs, but I recommend GBP/USD.
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