Trade the early morning momentum
1. This is not a trend following strategy rather a breakout strategy.
2. The aim is to identify areas of overnight consolidation.
3. This strategy is best suited to the trading two to three equal positions.
4. The profit target for the first position is +30 pips and the second portion is exited through a trailing stop or a +60 pip fixed target.
5. The stop loss is 30 to 40 pips and losses should not exceed 0.5% of one's equity.
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