Dislikedblueace, your strategy makes sense as a whole and that is not so often the case for strategies we see on the forum.
The points that I like are:
- wait for a day with a lower range as usually consolidations will be followed by bigger movements
- avoid the extreme days, Mondays because usually it doen't move much and Fridays because they are the days usually with the big releases
- take action on the sense of the move above / below pivot
- low leverage
I have not tested your strategy but I will most probably do it as it makes sense.
The only thing that I didnt get from your original post was the time zone, you said "At 00:00 EST/23:00 CST (my time) / 14:00 GMT", EST is GMT-5 and CST is GMT-6 so I guess it is not 14:00 GMT but more 05:00 GMTIgnored
I think he meant 4:00 GMT rather than 14:00 GMT.