24# Box Breakout 3 Trading System
Breakout Box trading system is based on quotation moves analysis.
The system employs 2 indicators:
• Forex Blue Box Indicator
• Simple Moving Average
In the 7.15 – 10.15 GMT time span High and Low values are sampled.
Both values are entered into the chart, so that they would be handy when a trader
needs them at the time of placing pending orders.
Forex Blue Box draws a blue box around the borders of the selected region.
As soon as the construction of the box is finished, a trader can place the pending
orders.
Order placements
As soon as the blue box has been formed on the chart, it’s necessary to check and
see if it’s positioned above or below SMA.
If the box is positioned above SMA, it’s recommended that you set the following:
Order #1 - Buy Stop Pending Order at price = High, Stop Loss = Low, Take Profit =
20pips from the opening price
Order #2 - Buy Stop Pending Order at price = High, Stop Loss = Low, Take Profit =
30pips from the opening price.
If the box is positioned below SMA, it’s recommended that you set the following:
Order #1 - Sell Stop Pending Order at price = Low, Stop Loss = High, Take Profit =
20pips from the opening price
Order #2 - Sell Stop Pending Order at price = Low, Stop Loss = High, Take Profit =
30pips from the opening price
Closing of the orders
Orders are closed on Take Profit or Stop Loss.
If orders aren’t closed before 21:00 GMT, you have to close them manually.
After the Order #1 is closed on Take Profit, it’s necessary to transfer
Order#2 into Break Even. To do that, please modify your order by moving the Stop
Loss into the opening price.
Take Profit of Order #2 needs to remain at +30 pips from initial price.
IMPORTANT!!!
If Simple Moving Average goes through the box or simply touches it from any side, then the price in such situation is absolutely unpredictable. So, in order to avoid any monetary losses, don’t open orders on that day.
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