OILFXPRO cable breakout system (OILFXPRO cable breakout system)

Hi guys

This cable branching system looks very promising and your input will be helpful.

This strategy was originally published along with indicator templates at
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This system was inspired by Hans and was created by oilfxpro based on the original Hans system

Confirm CET 09.00 – 10.00 CET High Low GBP/USD

Set BuyStop to high + 5 points and SellStop to low - 5 points

Set price target for GBP/USD at 70 pips entry

Set entry stop on GBP/USD at 45 pips. If the other side of the GBP/USD breakout is within 45 pips, the stop loss will be that level (long trade: SL = Low Range - 5 pips = SellStop; short trade: SL = High Range + 5 pips = BuyStop)

After GBP/USD rises 40 pips, move stop loss to breakeven point

If a position is taken and the price turns against you and it breaks out to the other side of the breakout channel, then turn. If the breakout channel is wider, then the stop loss will be hit first. If the breakout channel is narrow, stopping then hitting the other side means you have to switch your position. New transactions cannot be added after 17:00 CET.

At 18:00 CET, all orders expire and all trades are closed on the market. We will do the same thing on Friday at 18:00 CET.

Exit: If the target price is reached or earlier, when the 3 WMA crosses the 6 WMA on the 30 m chart. Also exited at the first resistance/support level on the pivot.

Download the Pivot indicator from
http://f0rex.free.fr/metatrader/mt4-indicators/

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The following indicators need to be updated

Nice discussion and nice transaction

El Cid