London BreakOut Strategy 02

London BreakOut Strategy 02

This is London breakout strategy. Its works on all GBP pairs every 8AM UTC (9AM GMT+1 NIGERIA TIME)

THESE CONDITIONS MUST BE MET

1. CHECK NEWS

2. MARK-UP ALL THE 6 GBP PAIRS

3. LOCATE THE OHLC ON THE 9AM CANDLE

4. DETERMINE WHETHER IT'S LONG OR SHORT (zigzag- 5,1,3)

5. SET A PENDING-STOP ORDER

6. STOP LOSS SHOULD BE THE HIGH/LOW OF THE 9AM CANDLE.

7. TARGET 1:1 RISK/REWARD RATIO.

FOR A BUY
10 PIPS ABOVE THE HIGH
SET STOP LOSS AT THE LOW OF THE 9AM CANDLE

FOR A SELL
5PIPS BELOW THE LOW
SET STOP LOSS AT THE HIGH OF THE 9AM CANDLE

RISK/REWARD= 1:1