i made extensive analysis with breakout at london and new york open. i did take for TP a Time-Stop. it is mostly the same system like cubbybgood describted here. what i take into consideration is to follow the trend. my backtests since 1999 results are:
the best days to trade this is thursday and thuesday. monday was the worst day. from 2002 til 2007 was not good years. since 2007 equity raises with steep curve. best pairs are EURUSD, GBPUSD and USDCHF.
try pyramiding with 1R gridspace and trail your SL with every new level.
but this does not mean that this analysis hold for the future.
the best days to trade this is thursday and thuesday. monday was the worst day. from 2002 til 2007 was not good years. since 2007 equity raises with steep curve. best pairs are EURUSD, GBPUSD and USDCHF.
try pyramiding with 1R gridspace and trail your SL with every new level.
but this does not mean that this analysis hold for the future.