Forex Strategy «Speed Trap Method» with something like a strategy of «Morning Range» — it is just based on the breakdown of the range, which is formed in the first hours after the opening of a new day; timeframe — M15, any currency pair, but the best fit: EURUSD, EURJPY , GBPJPY.
1) in 2 parallel lines on the maximum and minimum prices in the period from 00.00 to 02.00 on the terminal time!
2) On the M15 chart placing exponential moving average EMA (5) — it must necessarily be between 2 parallel lines during these 2 hours.
3) As soon as the EMA (5) breaks one of the parallel lines and closed above or below it, we conclude the deal in the direction of penetration, but penetration is considered valid if it occurred in at least 02.15!
Take-profit set at a distance of 20 items for EURUSD and 30 points for the EURJPY, GBPJPY.
Stop-loss is better not to install, and close the deal with the intersection and close EMA (5) below or above the opposite parallel lines after the conclusion of the transaction. Or 2 nd option: stop-loss is fitted at a distance of +5-10 points on the opposite side of the channel for the deal.
