1 Hour Breakout Asian Open Strategy

breakout session setup
breakout session setup

This is a simple breakout trading strategy for the Asian session open times using the 1 hour chart, and price action only.

Chart:

No indicators are required.
Chart Timeframe: 1 Hour
Currency Pairs: USDJPY

Trade Setup:

One hour after the Asian trading session opens, wait for the previous candlestick on the USDJPY 1 hour chart to close. Place two pending orders on either side of the previous candle 5 pips away from the previous high / low. Take profit is 40 pips. Stop Loss is the other side of the candle, plus 3 pips.

breakout session setup

breakout session setup

Backtesting:

see results here.

Expert Advisor:

startHour refers to the server time you want the trade to execute. This differs for each broker.

Advantages:

  • Simple price action strategy that is easy to follow and understand.
  • Reduces the likelihood of over trading, as you are only trading once a day.

Disadvantages:

  • Doesn’t work well in ranging markets.