Forex 1 Hour Trading Strategy

1 Hr Trading Strategy In Forex With USDJPY – Asian Session Trading

Not every trader can merchandise the brusk fourth dimension frames intra-day due to commitments so they ofttimes look to find the best 1 hour Forex strategy that they can use.

Why the one hr chart?

Considering it volition requite yous 24 opportunities to detect a trade especially with the usd vs jpy chart. Since the jpy is agile subsequently the main Forex pairs slow down in trading volume, it is 1 of the best Forex strategies for people who piece of work during the day.

USD/JPY 1 60 minutes Trading Strategy Explained

Thisis a very simple Asian Session Breakout Forex trading strategy based on price action trading using the 1 hour candlestick chart.

No indicators are required for this trading strategy
Focus only on the hourly Forex chart
Focus only on trading USD/JPY
Trade only during the Asian trading session – 11 p.m. to 8 a.m. GMT

Here are the trading rules of the this Forex trading system:

Wait for the starting time hour candlestick of the Asian Trading Session to close on the USD/JPY currency pair.
Place 2 separate pending orders: a sell cease and buy stop society on both sides exactly at 2 pips from the low and high respectively.
Finish loss should be the altitude from loftier to depression of that 1 hour candlestick plus ii pips.
When one pending society is activated, cancel the other one immediately.
Aim for a take profit of at to the lowest degree xx pips.

ane 60 minutes Forex Trading Sell Setup

Here'southward an example of a sell trade setup of this USDJPY trading strategy. Delight be fully aware that not all of your trades will be this easy.

1 Hour USDJPY Forex Trading Strategy

1 Hr USDJPY Forex Trading Strategy

ane Hr Trading Strategy Buy Setup Instance

Here'southward a buy trading setup instance and again, this is not a 100% winning Forex strategy.

1 Hour USDJPY Forex Trading Strategy Trading Technique Buy Setup

1 Hour USDJPY Forex Trading Strategy Buy Setup Example

Advantages of the 1 hr USDJPY Forex Trading Strategy

Simple price action trading system is easy to understand and follow.
You only have to merchandise once a twenty-four hours and this minimizes over trading
One time frame
One currency pair
1 of the top Forex strategies for people that piece of work full time

Disadvantages of the ane hr USDJPY Forex Trading Strategy

Reward to risk ratio is not always great unless you trail your stop
Asian trading session is sometimes a grind which can cause an almost instant trigger in and trigger out of the trade.

As you can see, hourly trading strategies are not foolproof. They certainly have their upside such as express screen time only there is no "best" trading strategy. Money management is vital with this strategy just similar it is with any other.

The key is to be consistent with trading the 1 hour trading strategy and that besides means to stick with trading usd/jpy as many of the other crosses merely range during the Asian session.