I found this system on http://www.forexfacotry.com. This extremely easy to use and is extremely profitable. I’ve seen breakout strategies for daily and weekly. I’ve never seen one like the one i’m about to present.


DRAW a box connecting the high of the first 4hr candle(00:00) of the week with the low.

The week starts at the open of the Australian session.

If I had a penny for every time someone has asked which candle it is..i wouldn’t need to trade forex to make money. For the next person who is going to ask, follow these instructions.

Open your MT4 platform(i use FXDD). Press Ctrl+y on a 4hr chart. Lines will magically pop up and at the start of every week the first 4hr candle should form on the line. This is the candle you use for the High and Low.

Box Forming Times:

GMT- 21:00 to 01:00

EDT – 17:00 to 21:00

FXDD time – 00:00 to 04:00

Use Time zone conversion to find out your specific time.

Rules:

- Add a buffer of 10-20 pips on each end of candle

- Buy on upper break of weekly box (including buffer+spread)

- Sell on lower break of weekly box (including buffer)

SL – other side of Box

TP1 – 1x box size

TP2 – 2x box size

TP3 – 3x box size

TP4 – 4x box size

This system works on many JPY pairs

GBP/JPY

EUR/JPY

AUD/JPY

CHF/JPY

CAD/JPY

May work on other pairs, testing is required however.
I like to use 3x-4x box size as TP.

I take don’t profits at 1x size of box because larger reward is key.

Advantages

- 30 mins a week

- no worrying about charts filled with indicators

- higher reward than risk on EACH trade

- easy to back test

Important:

Probability

Results

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