20 Pips Daily Candlestick Breakout Foreign Exchange Strategy

The 20 pips daily candlestick breakout foreign exchange strategy is a price action exchanging system where you only require to exchange once a day utilizing the routine candlestick and your gain aim is established at 20 pips.

The concept behind this exchanging system is that routine candlestick can move 100’s of pips everyday so why not just obtain just a little portion of this day-to-day movement. And to do this, just exchange the breakout of high or the low of the routine candlestick.

Features

1. All currency pairs should work.
2. Applicable on daily basis.
3. You don’t need any foreign exchange indicators.

It is highly recommended that you don’t exchange if the day-to-day candlestick occurs during the Asian foreign exchange trading session. This is because it usually has low exchanging trading volumes and defect the momentum necessary to hasten price movement.

But if the day-to-day candlestick occurs in the course of the London foreign exchange period, there is a higher chance that whatever the breakout path price makes will be the path it will uphold for the day.

Purchase Rules

1. Establish purchase stop pending orders 2 to 3 pips higher up, the high of the day-to-day candlestick.
2. Establish your stop-loss 20 pips.
3. Position your take-gain aim 20 pips.
4. Repeat the procedure the next day.

Auction Rules

1. Establish a pending auction stop order 2 to 3 pips beneath the low of the day-to-day candlestick.
2. Position your stop-loss 20 pips.
3. Position your take-gain aim 20 pips.
4. Repeat the procedure the following day.

Here is an Instance for an Exchange

Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with using any strategy presented on the site. It’s not recommended to use this strategy on the real account without testing it on demo first.