The most simple system.
Without indicators.
Works on any time-frame, but the higher the better.
The explanation is for a Short trade, vice versa for Long.
1. Price has to break 0.1 pip above the High of the last closed (previous) bar.
2. We place a Sell pending order (PO) 0.1 pip below the Low of that closed bar.
3. If PO is not filled until current bar is closed it will be cancelled.
TP - 15 pips for 1 hour bar, 20-25 pips for a 4 hours bar
SL - above the opposite side (High) of the breaking bar + X pips**.
** + X pips to be safe that price has not reached the opposite side of the breaking bar and then turned back. X pips means different value for different pairs. It depends on the volatility of each pair.
Without indicators.
Works on any time-frame, but the higher the better.
The explanation is for a Short trade, vice versa for Long.
1. Price has to break 0.1 pip above the High of the last closed (previous) bar.
2. We place a Sell pending order (PO) 0.1 pip below the Low of that closed bar.
3. If PO is not filled until current bar is closed it will be cancelled.
TP - 15 pips for 1 hour bar, 20-25 pips for a 4 hours bar
SL - above the opposite side (High) of the breaking bar + X pips**.
** + X pips to be safe that price has not reached the opposite side of the breaking bar and then turned back. X pips means different value for different pairs. It depends on the volatility of each pair.
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