Grucha Channel Forex Breakout Strategy
This is a breakout strategy that is for scalping and works on a 15 minute chart. This is applicable to any currency pairs and can only be used in New York and London Session.
Forex Indicators:
- Grucha Channel,
- Profitable Trend strength,
- pivot levels.
For Buy:
- Price must close above upper band.
- Profitable Trend strength confirmed with yellow bar buy at open next bar.
For Sell:
- The price must close below lower band.
- Profitable Trend strength confirmed with red bar sell at open next bar.
Exit Position:
- At the level of the pivots;
- Profit Target Predetermined: EURUSD 15 pips; AUDUSD 12 pips; GBPUSD 18pips.)
- Set stop loss on the previous swing or 15-20 pips.
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