21# 15 min GBP/USD Range Breakout Trading System

Range Breakout Forex Strategy

Submit by joy22

1. Open a 15 min Chart for a GBP/USD

2. Draw a vertical line at 7:00am (EST=NY time) time on your GBP/USD Chart.

3. Draw a vertical line at 9:00am time on your GBP/USD Chart.

4. Draw a Horizontal line at the high of candles/bars in between the vertical

line.

5. Draw a Horizontal line at the Low of candles/bars in between the vertical

line.

Done! You can put a buy stop at the high and sell stop at the low with stop loss at

the low (If your buying) and stop loss at the high (If your selling). But I usually trading

and placing the orders manually…

In the pictures 15 min GBP/USD Range Breakout forex system in action.

Always place a stop loss order 15 pips below or above your entry point. For example

if you sell at 1.6200 – must put a stop loss order at 1.6215 ( to protect you money )

Targets: Around 20-50pips or no targets if you think it can go more.

Trailing Stop of 15 pips, if your using it..

You can read about BUY STOP, STOP LOSS at the Murphy ebook…it is very easy!

1. There are only 9 candles/bars in the 15 minute chart, between 7:00-9:00am.

2. If the Distance between the high and low is less than 50-60 pips, it could be very

profitable.

3. If the Distance between the high and low is more than 50-60 pips, it could be not

very profitable.

4. If the price doesn't break the high/low, it’s a ranging market.

5. All Market news are usually released around or after the 7:00-9:00am phase.

6. The signals are only valid for the current day, Next day you again need to

wait for the 7:00-9:00 time and 9 candles again.

You can try to use this system for other FOREX pairs, but I recommend GBP/USD

Share your opinion, can help everyone to understand the forex strategy.

Comments: 3

#1
rajan (Sunday, 17 May 2015 20:54)

joy22 thanks a lot .. you had written so many strategies, very few strategies were written by others in this FSR.

Almost every strategy provided buy you looks good and this one is the best.

RISK : RATIO (1:3) , EVERYDAY TRADE, FINALLY NO INDICATORS NOTHING... Just perfect timing
#2
Ethan (Tuesday, 19 January 2016 16:18)

May I clarify, for the drawing of High and Low horizontal lines, does it take into consideration the candles at 7am and 9am, or only those within the boxed?
#3
Herman (Thursday, 19 October 2017 23:46)

You are the best Joy 22

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