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OILFXPRO 3000 pips euro/usd breakouts
OILFXPRO 3000 pips euro/usd breakouts
Simple Breakout System for EUR/USD
* Determine the 07.00 CET – 8.00 CET High Low on EUR/USD
* Set BuyStop at High + 2 pips and SellStop at Low - 2 pips
* Set Target Price at entry + 40 pips for EUR/USD
* Set StopLoss at entry - 20 pips for EUR/USD and entry . If the other side of the breakout is within 20 pips for EUR/USD then the StopLoss will be that level (Longtrade: SL = Low range - 2 pips = SellStop; Shorttrade: SL = High range + 2 pips = BuyStop)
* Move the SL to breakeven after a gain of 20 pips for EUR/USD
* If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. If the breakout channel is broader then the stoploss first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. There is only one turn per time frame possible. This rule is a result of all previous rules. You can skip this rule if you want.
* At 16.30 CET all orders expiring and close all trades at market.
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