EMA Channel Forex Breakout Strategy

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EMA Channel Forex Breakout Strategy

This is another breakout strategy that works on a 15 minute or 30 minute chart and is applicable to GBP and EUR pairs.

Forex Indicators:

  • EMA Channel
  • Box Breakout

Setting Metatrader indicators:

  • end hour: 7
  • end minute:30
  • bars to count:7
  • expire after X bar:22

Box Breakout is an indicator for 4 digit but works also with 5 digit.

  1. Target 1 20 pips = target 2 200 pips,
  2. Target 2 40 pips=Target 400 pips,
  3. Target 3 60 pips=600.

Trade only by following the direction of the EMA channel.

For buy entry:

  • Wait until the middle band EMA channel is green.

For sell entry:

  • Wait until the middle band EMA channel is red.

Set stop loss at 20 pips from entry into the market.
You can also use trail stop.

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