60 minutes after open

 Introduction:

60 minutes after open is a forex strategy focused on major currency pairs with spreads less than 0.0001, particularly the EUR/USD, this system offers a strategic method for traders aiming to capitalize on market movements within a 60-minute time frame from the open.

Pairs:

This system is designed to thrive in the environment of an ECN broker account, ensuring optimal conditions for major currency pairs with a spread less than 0.0001, such as the EUR/USD, GBP/USD.

Setup:

Waiti for the market to unfold within the first 60 minutes from the open. Traders are advised to observe whether the market is approaching the intraday high or low during this time. For sell setups, readiness to go short is recommended when the market is near the intraday high, while for buy setups, consider going long when the market is close to an intraday low.

Entry Points:

Executing precise entries is crucial for success. For sell setups, initiate a position with a sell stop set 1 pip below the low of the last 15-minute bar. Conversely, for buy setups, enter with a buy stop 1 pip above the high of the last 15-minute bar. This strategic entry method ensures traders are well-positioned to benefit from potential market reversals.

Profit Exit:

To capitalize on swift market movements, traders should aim to close out positions upon reaching a 6-pip profit. This disciplined profit-taking approach aligns with the goal of maximizing gains within a concise time frame.

Stop Loss:

Risk management is paramount in forex trading, and this system advocates closing out positions on a 5-pip loss or if the trade extends beyond one minute. This proactive risk mitigation strategy ensures that losses are controlled and trades align with the system's timeframe.