Trading Session Breakout System

Chart setup
- Determine the 6.00 CET – 9.00 GMT (London) High and Low on EUR/USD and GBP/USD
- Determine the 9.00 CET – 13.00 GMT (London) High and Low on EUR/USD and GBP/USD.
- Draw line 5 pips above the 9-13H high and 5 pips below the 9-13H low.

Download the session breakout line drawing indicator. Adjust the parameters of the indicator to Metatrader server's time in order to mark the 9-13 of London trading session.

Enter long (buy)
- when price steps over High + 5 pips line

Enter short (sell)
- when price goes below the low - 5 pips line

Stop Loss
- Initial stop loss is at Low mark for buy order, High mark for sell order. Move the Stop Loss to breakeven after a gain of 30 pips for EUR/USD and a gain of 40 pips for GBP/USD.

Target Price
- 80 pips for EUR/USD, 120 pips for GBP/USD. Otherwise exit at 23.00 GMT.

Notes
If the price turns against you and reach the SL, take oposite trade. At 23.00 GMT close all trades at market. On Friday we do the same at 22.00 GMT.

Chart setup should appear like following:

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Foreign exchange trading carries a high level of risk and may not be suitable for all investors. Do not invest more money than you can afford to lose. You can lose some or all of your initial investment. Any performance claims on this site are not necessarily indicative of future results.