4H Box Breakout Strategy
August 1, 2009 by hyiperz
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This system is extremely easy to use and is extremely profitable. I’ve seen breakout strategies for daily and weekly. I’ve never seen one like the one i’m about to present.
DRAW a box connecting the high of the first 4hr candle(00:00) of the week with the low.
The week starts at the open of the Australian session.
If I had a penny for every time someone has asked which candle it is..i wouldn’t need to trade forex to make money. For the next person who is going to ask, follow these instructions.
Open your MT4 platform(i use FXDD). Press Ctrl+y on a 4hr chart. Lines will magically pop up and at the start of every week the first 4hr candle should form on the line. This is the candle you use for the High and Low.
Box Forming Times:
GMT- 21:00 to 01:00
EDT - 17:00 to 21:00
FXDD time - 00:00 to 04:00
Use Time zone conversion to find out your specific time.
Rules:
- Add a buffer of 10-20 pips on each end of candle
- Buy on upper break of weekly box (including buffer+spread)
- Sell on lower break of weekly box (including buffer)
SL - other side of Box
TP1 - 1x box size
TP2 - 2x box size
TP3 - 3x box size
TP4 - 4x box size
This system works on many JPY pairs.
GBP/JPY
EUR/JPY
AUD/JPY
CHF/JPY
CAD/JPY
May work on other pairs, testing is required however.
I like to use 3x-4x box size as TP.
I take don’t profits at 1x size of box because larger reward is key.
Advantages
- 30 mins a week
- no worrying about charts filled with indicators
- higher reward than risk on EACH trade
- easy to back test
4H Box Breakout Forex Trading System Strategy
Creator of 4H Box Breakout Forex Trading Strategy : Ace284
Download 4H Box Breakout Forex Trading System
Filed under: Forex Trading System
Tagged: 4H Box Breakout Forex Trading Strategy, 4H Box Breakout Strategy, 4H Box Breakout trading system, forex system, Forex Trading System
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Comments
2 Responses to “4H Box Breakout Strategy”
Leave Your Comment..
any comment, guys?
need a review of this system..
-ladyheart
is this the correct way to draw the box?
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