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This strategy once again proves that anyone can make money on Forex! It is enough to register with any of the presented brokers and start earning!
In this article, we will focus on the trading technique, which consists in the breakdown of the level of the Asian session for currency pairs.
The essence of the technique
Initially, the strategy involved trading only the pound during the Asian session. But having practiced in the terminal, it became clear that this technique works great in general on any currency pair (we take only the main ones, we are not talking about cross rates), except for the Australian dollar, Canadian and some others. Detailed recommendations will be below.
In addition, we do not need to build anything manually, a special indicator will do it for us, which you can download from the link below and install it in your MT4.
In general, this trading technique does not work on all pairs, the pair with the British pound shows the best result, and we will use it!
It is already possible to make transactions immediately after the construction of the box of indicators. The strategy is not tied to timeframes, but just for convenience, it is better to use the M15 chart (it’s more convenient).
For the indicator that will display levels in auto mode, you will need to change some parameters:
- Start: specify 04:00
- End: set 06:59
GMTshift: This is the time difference between GMT+0 and the terminal time.
To find out the terminal time, open through the menu View → Market Watch or press Ctrl+M. At the top of all pairs, the time will be displayed, check it with the GMT format and see the difference.
For example, for a broker MaxiMarkets set the value to 0, since it has time just in GMT.
Basic trading rules
Levels are formed every day, as soon as the day has begun and you have seen the formation of a box, you can start placing pending orders.
- We put BuyStop and SellStop + take into account the spread, it is slightly different for each pair, but on average it is 2-3 points.
- Stop Loss set for the opposite level (also + spread 2-3 points)
- Take Profit set the minimum size of the box. If the box is 25 pips, for example, then our take profit will be 25 pips too.
Examples of zone penetration
Here is an example for USD/CAD
You need to be careful with gold, trade gold only if your deposit starts from 2000$.
Example for EUR/USD
Do not pay attention to transactions, they are opened according to a different strategy.
With other pairs that include the yen and the Australian dollar, as well as the pound, it is advisable to exclude, since they do not behave very adequately during the breakout, they can often knock down stops.
If there are orders left, then at the end of the day they need to be closed, at the end of the American session.
Here you can download a ready-made template with the settings of this strategy for free.
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