Lesson 18 – Cable Breakout

Practice trading the Breakout strategy using the software simulator I use here: https://soft4fx.com/software/forex-simulator.php

The Cable is a nick name for the currency pair GBP/USD. During the Asian Session (GMT 00:00 – 06:00) London Time you are going to mark the high and low.

From that point using the 15 minutes candle you are going to take the trade when it crosses and closes over either the high or low of the Asian Session.

You place your stop loss on the other side of the Asian Session. Your take profit should be at least a ratio of 1:2 so you can double your stop loss amount for the take profit level.

Move your trade to break even once you feel you have given it enough room – that could be either 10-15 + more pips away from your entry price.