63# Forex Breakout of the morning
Waiting London and New York Breakout
Submit by Massimo Trader 03/12/2014
Forex Breakout of the morning is a price action system fitered with the trend of the market.
Currency pairs: EUR/USD, GBP/USD, AUD/USD.
Time Frame H1.
Box Breakout ( setting: 00:00, 8:00 GMT Berlin);
Filter (Trend Friend is a trend indicator that gives you three signals on multiple timeframes. It bases it's recommendations on short and long moving averages and MACD. Indicator Signals are: MACD (12, 24, 6), EMA short ( 7, 14, ) EMA Long (34, 72).
Rules Forex Breakout Morning
First Entry 8:00-15:00
After the 8:00 of the morning GMT Berlin place two pending order: buy 1 pips above the higher of the box , sell 1 pips below the lower of the box.
Second Entry 16:00 21:00
Entry Buy if the price is above the box with trend filter that confirm the trend direction.
Entry Sell if the price is below the box with trend filter that confirm the trend direction.
Confirm the order that are agree with the trend filter.
Trend filter conditions for confirm the order:
for Buy time frame 30 min, 60 min and 240 min all arrows green up;
for Sell time frame 30 min, 60 min and 240 min all arrows red down.
First Entry 9-15, Second entry 16- 21.
Profit Target first and Secon entry :EUR/USD 20 pips GBP/USD 25 pips, AUD/USD 20 pips.
Stop loss first entry the opposite border, second entry 20 pips.
In the picture Forex Breakout of the morning in action.