Box Breakouts On Daily, 4 hour & Hourly
Yes, you should try them yourself: Why?
Makes Forex trading a lot simpler to do
I add boxes on daily of:
DAILY BOXES: 100 pip boxes - vertical lines every Monday and horizontal lines every price action number ending in .000 (psychological #)
4 HOUR BOXES: 50 pip boxes- vertical lines every day after session opens and horizontal lines every .000 & .500 critical price action numbers.
1 HOUR BOXES: 25 pip boxes- vertical lines every 4 hours after session opens and horizontal lines every .000, .250, .500 & .000 price action numbers.
If you try this, you will like it. Why? because this will give entry price, stop loss price and 1st and 2nd targets.
If your win rate can hit 70% or higher on these 1:1 or 1:2 risk reward setups- then you know exactly what and what you are doing when trading Forex.
Risk management is always #1. You can have confluence with support and resistance, pivot points, RSI, BB, etc... before doing this box strategy. If you can use round numbers and quarter numbers in your trading you will be more profitable. Trading Forex is about PRICE and TIME of session going on now.
Makes Forex trading a lot simpler to do
I add boxes on daily of:
DAILY BOXES: 100 pip boxes - vertical lines every Monday and horizontal lines every price action number ending in .000 (psychological #)
4 HOUR BOXES: 50 pip boxes- vertical lines every day after session opens and horizontal lines every .000 & .500 critical price action numbers.
1 HOUR BOXES: 25 pip boxes- vertical lines every 4 hours after session opens and horizontal lines every .000, .250, .500 & .000 price action numbers.
If you try this, you will like it. Why? because this will give entry price, stop loss price and 1st and 2nd targets.
If your win rate can hit 70% or higher on these 1:1 or 1:2 risk reward setups- then you know exactly what and what you are doing when trading Forex.
Risk management is always #1. You can have confluence with support and resistance, pivot points, RSI, BB, etc... before doing this box strategy. If you can use round numbers and quarter numbers in your trading you will be more profitable. Trading Forex is about PRICE and TIME of session going on now.