london trades
 

This strategy is based on the London Market.

Currency Pair: GBP/JPY
Time frame: 1 hour

Strategy:
Before London opens, at 08:00 GMT, mark the High and Low of the last 4 hours - from 04:00 until 07:59 GMT. Set your Buy and Sell orders 10 pips away from those highs and lows.

I set my TP to 100 pips, excluding spread, and have a trailing Stop Loss, and take which ever comes first? My trailing stop is set at the previous hours high, and follows every hour.

London breakout strategy GBP/JPY


All depending on your money management, this can work due to the pairs large moves.
Any additional tips will be greatly appreciated.

How long do you wait for the breakout before you cancel the orders?

Break out indicator
 

Here is a Break Out Indicator that you can set up for any time you want.
Also, follow the link to the trailing stop EA that I use.
Hope they help.:)

http://forexmoments.com/forums/419-post1.html

Do you have the mq4 file available? Can you post it?

No, I don't have the mq4 file.
I never had a need or a reason for it.
Maybe you can find & post it.