Developing a system #22 (EUR/USD wakeup strategy)
Submitted by User on March 29, 2010 - 13:07.
Submitted by Chris
EUR/USD wakeup strategy.
This is a strategy I have started to work on and it has shown success.
Working with the EUR/USD on a 5 minute chart I take the high and low from 00h00 to 04h55 London time the hours when the pair are quietest.
I set the Buy at the High + 5 and the Sell at Low - 5 with a 15 S/L.
I have noticed that invariably between 05h00 and the European opening the market wakes up and moves substantially regularly with a 20 pip surge. If there has been a lot of movement between 00h00 and 04h55 I stand aside.
Look forward to your comments.
PS. Thanks Edward for running such a good site.