Session Start Box Breakout

Session Start Box Breakout

Time Frame        : H1, H4
Currency              : High volatile pairs (GBPJPY, GBPUSD etc )
Author                  : gofx

Market Session  : First 4 Hours of Any Session

Indicators
1. None – Price Action

Setup

At 08:00 EST (New York Time), draw a box enclosing the high and low of the previous hour.

Entry Rules

BUY if the price moves above the box by 20% of the box height.
SELL if the price moves below the box by 20% of the box height.

This signal is only valid for one hour after it is generated.

Exit Rules

Close the BUY trade when the price hits 400% above the box height.
Close the SELL trade when the price hits 400% below the box height.

Initial stop loss for the BUY trade is the bottom of the box.
Initial stop loss for the SELL trade is the top of the box.

*. Place a trailing stop equivalent to the size of the box to capture the profits gained.

Variations of the Box Break Out Method

There are many variations of the box break out method. The rules for this method are not set in stone. You can modify the setup to your individual profit, and risk appetites, and still find the method is profitable.

Start Time

The most important aspect of the box break out method is the time to trade. This method works best during the first few hours of a new trading session, when the markets are most volatile

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