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jpygbp · 05-05-2003, 16:01

I have been experimenting with the opening breakout trade. To recap, I wait until just before the open of either the NY or London trading day. I then look at the big four currencies (JPY, EUR, GBP, CHF). I look at the day chart for general direction, and make sure the 30min and 5 or 10min are all in the same direction. I do this with a 5 emva and an 89 emva. Other versions of the emva are fine. Some times I will use the 5 and 20. Other people prefer the 9 & 18. Anyway, the jpy and chf will usually cross in one direction and the eur and gbp will cross the other way. I place an order for each of the above currencies as the session breakout starts. Normal days will only give about 40 pips so I try to at least catch 20 of them. If one or more of the four currencies have 20pips, then I close all four.

Here are today’s results for 8:59EST-10.26EST:
Eurusd 1.1236 1.1257 $210.
Gbpusd 1.6056 1.6059 $30
Usdjpy 118.86 118.70 $134.79
Usdchf 1.3466 1.3443 $171.09

05-05-2003, 16:01	#2 (permalink)
jpygbp level 3 Join Date: May 2002 Posts: 211 Rep Power: 0	opening breakout trades I have been experimenting with the opening breakout trade. To recap, I wait until just before the open of either the NY or London trading day. I then look at the big four currencies (JPY, EUR, GBP, CHF). I look at the day chart for general direction, and make sure the 30min and 5 or 10min are all in the same direction. I do this with a 5 emva and an 89 emva. Other versions of the emva are fine. Some times I will use the 5 and 20. Other people prefer the 9 & 18. Anyway, the jpy and chf will usually cross in one direction and the eur and gbp will cross the other way. I place an order for each of the above currencies as the session breakout starts. Normal days will only give about 40 pips so I try to at least catch 20 of them. If one or more of the four currencies have 20pips, then I close all four. Here are today’s results for 8:59EST-10.26EST: Eurusd 1.1236 1.1257 $210. Gbpusd 1.6056 1.6059 $30 Usdjpy 118.86 118.70 $134.79 Usdchf 1.3466 1.3443 $171.09 Last edited by jpygbp; 05-05-2003 at 16:04.