Londom Breakout Box is an intraday
trading system, this is an other classic strategy.
London
Breakout Box method
takes advantage of the London open session. Draw the box, wait for
the
breakout and then set your stop-loss and profit target accordingly.
There is no need to keep monitoring your charts.
Chart
setting
Time
frame 15 min or 30m
Currency
pairs: USD/JPY, GBP/USD, EUR/USD, USD/CHF.
Trading
rules London Breakout Box
Buy
At London open, draw a box enclosing the high and low price of the previous 2 hours. (8 x 15 min candles).
Wait
for a 15 min candlestick to close above the high of the box.
Place
your stop loss below the previous swing low.
Price Objective:
Risk-to-reward 1:2 (i.e. risking 25 pips to make 50).
Sell
At
London open, draw a box enclosing the high and low price of the
previous 2 hours. (8 x 15 min candles).
Wait
for a 15 min candlestick to close below the low of the box.
Place
your stop loss above the previous swing lhigh.
Price Objective: Risk-to-reward 1:2 (i.e. risking 25 pips to make 50).
Profit
Target( 50 pips GBP/USD, 40 Pips EUR USD, USD/CHF, 45 pips USD/JPY,
30 pips AUD/USD).
In
the example GBP USD 15 min chart.
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