I've noticed that eur/usd and gbp/usd tend to trend often at 2 am CST when the frankfurt and london exchanges both open. I've looked online and found others applying this strategy so I know it's valid, but I was hoping I could come across someone on ET that's also doing this. It would be nice to share ideas. I'm also in the process of automating this strategy in NinjaTrader since I have a day job, so if anyone wants to talk about it, let me know. Thanks in advance.
I guess I should explain the system just in case It's fairly simple: You take the opening bar's price at 2AM in either the euro or pound (it works for both) and play for a breakout in either direction. If the initial move up or down is 30 pips or so, more often than not there is a continuation. You can either set a profit target for whatever the average true range is for the last few days or you can trail a stop. This strategy works because the vast majority of the day's volume occurs at that time when both exchanges are opening.