London Open Breakout-M30 (London Open Breakout-M30) - MT4/MT5 Resources
Hello everyone,
Be inspired by these incredibly reliable breakout systems.
This idea of mine comes from
http://www.forexfactory.com/showthread.php?t=103682
& 0400-0700 GMT Breakout Strategy http://www.forexfactory.com/t/183582...trategy-1.html.
I originally started the EUR/JPY straddle trade thread
http://www.forexfactory.com/t/181945/eurjpy-pairs-straddle-tokyo-open-1.html
EUR/JPY straddle trade by me, Bazza
I decided to open a separate thread for the above since it obfuscates the originator's methods.
I discovered this by studying charts over the years: don't span the London open, but span the first 30 minutes of the London open, which is 0800-0830 London time. The daily trend is usually established at this point. Always keep an eye on the news, especially interest rates, and it's a good idea to take a break that day.
Method: Set entry point + 5 pips + spread above/below 0800-0830 London 30 minute candle. Currency pair: GBP/USD.
Stop loss is the opposite of 30 minute candle, if 30 minute candle > 50 pips then stop loss is 50 pips. TP1 is +30, TP2 is +60, TP3 is +90.
Use a trailing stop of 25 pips.
Last night, August 4th, my profit was 3 * 19 pips because T/S took me out, which was good because the pair reversed, but would have been a loss.
The night before it was +30 and +60. I only made it 2 places.
Hope you earn some nice points.
Be inspired by these incredibly reliable breakout systems.
This idea of mine comes from
http://www.forexfactory.com/showthread.php?t=103682
& 0400-0700 GMT Breakout Strategy http://www.forexfactory.com/t/183582...trategy-1.html.
I originally started the EUR/JPY straddle trade thread
http://www.forexfactory.com/t/181945/eurjpy-pairs-straddle-tokyo-open-1.html
EUR/JPY straddle trade by me, Bazza
I decided to open a separate thread for the above since it obfuscates the originator's methods.
I discovered this by studying charts over the years: don't span the London open, but span the first 30 minutes of the London open, which is 0800-0830 London time. The daily trend is usually established at this point. Always keep an eye on the news, especially interest rates, and it's a good idea to take a break that day.
Method: Set entry point + 5 pips + spread above/below 0800-0830 London 30 minute candle. Currency pair: GBP/USD.
Stop loss is the opposite of 30 minute candle, if 30 minute candle > 50 pips then stop loss is 50 pips. TP1 is +30, TP2 is +60, TP3 is +90.
Use a trailing stop of 25 pips.
Last night, August 4th, my profit was 3 * 19 pips because T/S took me out, which was good because the pair reversed, but would have been a loss.
The night before it was +30 and +60. I only made it 2 places.
Hope you earn some nice points.
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