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Channel Forex Breakout Strategy
This system is based on volatility and breakouts. Use this system in a 15 minute and higher timeframe.
This can be used in other market such as Stocks, forex, commodities and indices.
Forex Indicators:
- Channel Breakout ATR default setting.
- New ABHAFX Timing.
- ADX optional.
Buy Entry:
- Place a pending buy order 2 pips above the green dot.
Sell Entry:
- Place a pending sell order 2 pips below the green dot.
Green dot is safer and has few false signal. Use green dot as identifier of entry.
Exit position:
- Stop loss must be placed on the previous swing high/low or 2 pips above/below the setup bar.
- Profit Target ratio 1:1 but for high profitability ratio 0.3:1 example if you stop loss is 30 pips you profit target is 10 pips.
- You can use trail stop.
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