1# Channel Breakout with pullback Trading System

Submit by Forexstrategiesresources

 

Time Frame :4H, daily and weekly.

Pairs :all.

 

Setup channel breakout

a) Calculate a 10-bar price channel of highs and lows.

Long Entry Position Channel breakout

a) Check for a close above the top line of a 10-bar price channel.

b) Check for a new four-bar low within 10 bars of the breakout.

c) Buy on the next open.

Short Entry Position Channel breakout

a) Check for a close below the bottom line of a 10-bar price channel.

b) Check for a new four-bar high within 10 bars of the breakout.

c) Sell short on the next open.

 


Exit Position

a) We’ll enable a money management stop, a breakeven stop, and a % Risk Trailing stop.

b) We’ll also exit a long position on a rally to a new eight-bar high and a short position on a

decline to a new eight-bar low.

Take Profit: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended)

 

Channel Breakout with pullback Trading System
Trading System: Channel Breakout with pullback indicators and template
kill n1.zip
Compressed Archive in ZIP Format 362.8 KB

 

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Channel Breakout Forex Strategies