Hi friends this is María. Today I want to share with you a forex srategy that is included in our ebook Forex Trading Strategy, specially to trade the EUR/USD, hope it will help you.

Trend Lines Breakouts System: Wining rate 90% of the time.
Time Frame: 1 hour.
Currency: GBP/USD, EUR/USD – tested. Other pairs may also be used.
Indicators: none.
Things you should know to use this strategy:
*Identify swings high and low.
*Rules of drawing a trend line.
*Be able to use Pivot Points.
Entry: Our working range includes 5 candles; from midnight to 4:00 am EST
(including the 4:00 am candle).

Within those 5 candles look for a valid swing high and swing low of the price.
Now, draw a downtrend line connecting your swing high to the most recent swing
high of the previous day. (make sure the last one is also a valid high to draw a downtrend line through).
Do the same for the swing low.
If a trader sees, for example, no swings high in the 5 candle range that means there will be no downtrend lines in the morning. Same for a swing low.
The entry is done on the break of either one of the trend lines and is immediate
without waiting for a current candle to close. A protective stop is placed just
above/below the candle that broke through the trend line.
Profit Target:
Usually the whole action is unfolded within the next 3 candles (count the candle that
had violated the trend line but only if it closed on the other side of the trend line).
So, after the actual breakout we have 3 hours or 3 candles to trade after that we will
exit with whatever profits is made.
Using pivot points and timing
Our profit target is going to be the nearest level of support or resistance according
to the pivot points. If however, after only 1 candle (or 1 hour) this target is reached it
suggests a very strong market, thus we would stay in a trade longer and set our
goal for the next support/resistance level. We would also choose the second pivot
point level of support/resistance as our profit goal if the first pivot point level appears
to be too close to our entry point. We have 3 candles to trade after the breakout in
total, that´s why we can trade calm and allow our goal to shift to the next pivot point
level.

Best regards
María
www.fx-megaforex.com
Smart Solutions to your professional trading.

PS. Now Forex Trading Srategies has a 30% of discount, as well as all the products of Fx-Megaforex you can check it out at http://www.fx-megaforex.com/signupoffers.htm, but wait this offer is only for members, is our way to say thanks.

Forex Trading Strategies is an ebook of 55 pages, with more than 20 strategies, divided in 6 chapters, that will make you a better trader. More information go to: http://www.fx-megaforex.com/ebook.htm

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