London breakout strategy backtest5/29/2023 ![]() ![]() If following the start of the London session prior to marking the high/low of the 3 previous candles, price closes above the yellow resistance level as shown on Fig.Initiate a buy entry if the following indicator or chart pattern gets put on display: Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hourĭownload the London Session GBP Breakout Strategyīuy Trade Example : GBP/USD (Sterling / US Dollar), H1 Chart MetaTrader4 Indicators: Sessions.ex4 (Default Setting), buzzer.ex4 (Default Setting), Relative Strength Index.ex4 (Parameters Modified Period=19) Let’s see the chart to get a better picture of the things I wrote above… We achieved this by drawing two horizontal lines, a yellow resistance and red support lines. The main idea here is that we’ll identify three prior candlesticks in the Asian trading session, locate their combined high and low and use the information to form our breakout levels. Just as the name sounds, the system revolves around the concept that price action tends to breakout during the start of the London trading session, which is seen to overlap at the end of the Asia trading session. The London Session GBP Breakout strategy is a very popular trading method used by traders today.
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