[FOREX TIP] NZD/USD Daily Price Forecast – 1st April 2020

This is our NZD/USD Daily Price Forecast for 1st April 2020.

This trade idea was generated by our powerful Elite Swing Trader System on an H4 time frame.

EUR/GBP Daily Price Forecast – 31st March 2020

The chart shows that the price after being bearish had a bounce at the level of 0.88725. It produced an inside bar bullish candle and pushed the price towards the North. The price had a rejection at the level of 0.89465 and produced a Doji candle. If the price heads towards the South and makes a breakout at the level of 0.88725, the sellers may trigger a short entry to grab some green pips. Let us have a look at the summary of the trade…

• Sell Stop:  0.88635
• Stop Loss: 0.89833
• Take Profit: 0.87663

Tip of the Day: Since the daily chart shows that, the nearest level of support is quite a distance, the H4 sellers may consider taking a partial profit at the take profit level. The price may head towards the level of 0.85470. Eventually, it may even go up to the level of 0.83000. It would take time but the way it has been heading towards the South, it is very much on the card.

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[FOREX TIP] Waddah Attar Explosion Indicator for MT4 | Free Download

The MT4 Breakout Box Forex Indicator makes it easy for you to trade breakouts without the hassle of understanding where the support and resistance levels are. Of course, it helps if you know but it’s not entirely necessary since this neat indicator has done most of the work. The indicators draw the levels directly on the price chart with different color coding.

Below is the step process to take when using this MT4 Indicator.

Step 1:  Determine the trend so that you trade with the trend all the time.
Step 2: Identify the Entry level. If it’s downtrend, then look at the bottom of the box as your entry price. That’s the Sell Stop level in this case.
Step 3: Determine the Stop Loss Level. Once you decided on the SL level, apply the same reward margin so that you achieve a 1:1 risk-reward ratio each and every trade.

MT4 Box Breakout Forex Indicator

Let’s take a look at a short trade example below…

Short Trade Example

The same applies for long trades. Example below…

Long Trade Example

MT4 Breakout Box Forex Indicator Settings

MT4 Breakout Box Forex Indicator Settings

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Recommended Time Frames

Technically speaking, you can use this MT4 indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the H4 for better consistency.

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Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like to see other indicators that we have carefully selected that will help you in your trading journey.

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Visit our Free MT4 Indicator Download page. We hope you have enjoyed this post as much as we have creating this strategy post for you.

Good luck and thank you for your readership.

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