36# Early Bird Trading System
Submit by Joy22 12/01/2012
Timeframes: 1 Hour
Currency pairs: EURUSD, GBPUSD
Trading sessions: ANY
Entry rules
Find the Highest High and the Lowest Low for the candles from 05:00 GMT to 10:00 am GMT. (We should have 5 candles for each hour: 6, 7, 8, 9 and 10). At 10:00 am GMT, place a buy stop order above the highest high +5 pips and place a sell stop order below the lowest low -5 pips.
The Stop loss for Buy order should be placed below the found earlier lowest low
-3 pips, for Sell order - above the highest high +3 pips. If a stop loss is hit most likely traders will see an opposite position open. Stop loss should never be moved.
Take
Profit is set to +90 pips for EUR/USD
and +140 pips for GBP/USD - both targets are way too high if to consider that daily range average for EUR/USD is only 110-120 pips and daily range average for GBP/USD is 180-200
pips.
Stop Loss :
Stop loss for Buy order should be placed below the found earlier lowest low -3 pips, for Sell order - above the highest high +3 pips. If a stop loss is hit most likely traders will see an opposite position open. Stop loss should never be moved.
Share your opinion, can help everyone to understand the forex strategy.
FSR (Saturday, 25 January 2025 11:47)
Hi, this is a manual discretionary system, you have to manually draw the support and resistance lines on the chart.
Joshua Borlu (Friday, 24 January 2025 14:03)
I'm interested. Can u share the download link with me?
Aakash (Monday, 05 November 2018 20:10)
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