To start with you are looking for a setup with a currency trading in a range with defined support, resistance, and round numbers. Support or Resistance Break – Blade runner forex strategy the price breaks below the support you will wait for the price to retest the support level.
Once it crosses over the 20 EMA, this is when you initiate the first sell order. Once the support breaks, the trend is toward the downside and the EMA should track above the price line. You will want to place another sell stop a couple of pips below the confirmation level of the continuation of the trend. This would be when the EMA crosses back across the price line and a whole candle below the EMA.
Once the first order has been triggered you will look to put the SL and TP on. The SL would be placed a couple of pips behind the first order but it should only be initiated when the whole candle is formed back below the EMA. The TP will then be put at a level equivalent to the risk you are looking to take. After the second order has been triggered and the market has moved in favor of the trade by the equivalent of the initial risk you wanted to take, the stop loss on the remaining order is moved to a breakeven level. The order can then be left open until the market closes it by hitting the SL or TP. This way you are guaranteed to profit on the first and at worse break even on the second trade. The Bladerunner is named because the moving average cuts the price.