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The Sunday Breakout Strategy PDF Print E-mail

Pair: GBP/USD
Timeframe: 4 hour
Indicators: An ATR(14) on the WEEKLY chart, or use the attached indicator on your 4H chart.

Your broker's charts MUST include the Sunday 20:00GMT candle for this system to work. Some broker's don't put

 this candle on their charts so make sure yours does! If not use an IBFX demo account, they include the Sunday

candle and the demo never expires.

Find the Sunday candle:
- On a 4H chart find the high and low of the Sunday candle. If you're backtesting and using MetaTrader turn on the Period

Seperator to make finding it easier. Draw a line 10 pips above the high and 10 pips below the low.


Entry:
- Go long on upper break of the line.
- Go short on lower break of the line.

SL:
- For long trades the SL is the Sunday candle low.
- For short trades the SL is the Sunday candle high.
- Set SL to break even once your profit has reached 2x your stoploss.

TP:
- Your TP is ½ of the weekly ATR(14).
indicators_v2

 

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Last Updated ( Saturday, 22 August 2009 )
 
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