Re: Breaking Strategy at London and NY Sessions
I have been testing for the last 3 months a strategy based solely on breaks during the openings of London and New York, and the results have been more than decent. The base is simple: identify the Asian range, plot levels and enter with pending commands once it breaks with force. I use 15-minute graphics to define the Asian range and place buy stop and seal stop commands just above and below that range, always respecting a minimum distance to avoid false breaks. The risk-benefit ratio I am managing is 1:2 at a minimum. Does anyone else use this technique or some variation? What pair gives you better results? I am focusing on GBPUSD and EURJPY for its volatility. I open this thread to exchange inputs, outputs, and real-time analysis during both sessions.
Re: Breaking Strategy at London and NY Sessions
I operate something similar but with a rupture of the first hour of London. Do you use any filters like RSI or volume?
Re: Breaking Strategy at London and NY Sessions
I'm interested. What SL are you using, fixed or by structure?
Re: Breaking Strategy at London and NY Sessions
I saw this technique in a webinar months ago and I didn't give it any importance. I might give it another chance by looking at your experience.
Re: Breaking Strategy at London and NY Sessions
Could you upload an example chart? It would be clearer for those of us who are starting out.
Re: Breaking Strategy at London and NY Sessions
Watch out for Mondays and Fridays, they usually give a lot of fake breaks in those sessions. I filter those days and I do better.
Re: Breaking Strategy at London and NY Sessions
I'm inside the EURJPY trade that broke the Asian rank up 15 minutes ago. TP at 163.80, SL at 162.40. Let's see if it takes off.
Re: Breaking Strategy at London and NY Sessions
Thanks for sharing. Have you tried backtesting this strategy? I would like to know the historical success rate.
Re: Breaking Strategy at London and NY Sessions
Don't you think with so many people looking out for breakups they become predictable and manipulable?
Re: Breaking Strategy at London and NY Sessions
GBPUSD just broke the range today. Entry activated at 1,2762. Stop at 1.2736 and target 12,815. See how it goes.