DislikedThank you again, another good explanation. I guess the 60 60 trade the guys talk about is an example of a range play. From phase 1 except the range is in the 1 hour box.Ignored
Usually it looks like stable range(yellow areas) on 1m and 5m and this whole range is "locked" in a "bracket" between L1 and L2 on 60m. (that's why it's called 60x60) The main condition is to have gap between L1 and L2 at least 20 pips (ideally around 30). And you look to sell on top of the "bracket" or buy at the bottom.
It's a good setup with high win rate, but happens rarely.
There is also 15x15 sometimes after big volatility breakout.