World Surgeon in Canada operates on 8-year-old boy's Leave a Reply Click here to cancel reply. Introduction to the Asian Zone Breakout System.
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In other words, we trade the breakout of price on either side of the box. This strategy is traded on the 1 hour chart using the Yen crosses. The snapshot shows the shaded areas which encapsulated the price action within the marked time zone. Eventually, the price action broke out to the upside, retreated a little before continuing its move upwards. The stop loss is set to 10 pips. Once the trade has gained 30 pips, start to trail the trade with a pip difference. The Take Profit is set to 50 pips maximum.
If it gets to 50 pips and shows more movement potential, you can keep on trailing the price action northwards. Here we see a situation where the price action was already heading to the downside even within the shaded zone. However, the breakout candle only occurred 2 candles after price left the zone. It made a brief pullback before continuing its movement down south. This was a particularly aggressive trade which delivered pips on the average.
If it gets to 50 pips and shows more movement potential, you can keep on trailing the price action downwards. This strategy is quite simple and unlike its counterpart strategies which utilize the minute chart and end up using a lot of candles, the use of the 1 hour chart in this case reduces the clutter on the charts, making it easier to identify the trade setup and enter the trades.
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