The beauty of this type of combination is that the fast moving average represents a strong momentum as it cuts through the slow moving average and hopefully it would yield us the pips that we want. This is also a variation of a crossover strategy that combines a very long-term moving average and a very fast moving average. Maybe it could work, but with a shorter target and stop loss. The Asian session is a tad too timid to be targeting 20 pips. This is because these are the markets that is the source of the bulk of volatility during a trading day.
Also, we are to trade these pairs only during the London and New York sessions. We will be trading these pairs only because it has tighter spreads and a fair amount of volatility. It is a simple strategy that should be implemented on the major pairs – EUR/USD, GBP/USD, and USD/JPY. What we have today is a simple strategy that you could mechanically do every day again and again and could give you 20 pips per trade.
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