Trading strategy for the Asian session
Another interesting breakthrough strategy The trades on which are opened only once a day.
This trading strategy implies that the deal is opened at the close and the breakdown of the Asian session, and work is carried out only on pairs connected with the British Pound - GBP, because in the wake of the Asian session opens the session in London.
Marketplace: ;
Indicators: ant-GUBreakout, Fibonacci grid;
Timeframe: M15;
Currency pairGBPUSD and cross rates with the pound;
Strategy: intraday;
Trading time: 0:00 - 8:59 GTM;
Protective orders: StopLoss, TakeProfit, TrallingStop.
Trading strategy indicators
To work on this strategies You will need to install the ant-GUBreakout V.0.4.2.ex4 indicator on the chart of the selected currency pair, which will signal the beginning and end of the Asian session. Indicator settings:
- GMTShift - shift of your broker's time from GMT;
- Start - the start time of the "box" (0:00);
- End is the end time of the "box" (8:59);
- Offset - the indent from the "box" for placing orders of 5-10 points.
Moving on, we need Fibonacci grid indicator, with levels (0, 50% and 100%).
Trading on the strategy at the Asian session
We wait for the Asian session box to close and stretch the Fibonacci grid so that the 0 level and 50% are on the extremums of the resulting box. The grid is built in two opposite directions
2. Level 100% will show us at TakeProfit. After closing our box, we put one order on each side of the box for Buy and Sell, with the orders BuyStop и SellStop put at a distance of 5-10 points from the maximum and minimum of the resulting box.
3. StopLoss we put on the opposite side of the box. If one order opened, we delete the second order because work is performed only once a day.
Addendum to the trading strategy for the Asian session
Orders are closed only on TakeProfit и StopLoss - No matter how many days the position will be open. While the open order is not closed, the following orders are not exposed.
2. In addition, there is the option of closing positions by choice:
- If the order is not closed at the end of the trading day - at 00.00 GMT, then it is closed at the current market price;
- If the order is not closed at the end of the day - at 00.00 GMT, then we put StopLoss at Breakeven level or under the nearest fractal and wait for the position to be closed by StopLoss or TakeProfit.
3. the position can be transferred to Breakeven by means of TrallingStop when reaching + 30% - +50% in profit from the size of the box.
4. You can put the restriction "do not work" if the size of the box was more than 120 points, because with such boxes, there is a high probability of closing the transaction on the StopLoss order, in addition, the loss is large.