I have been watching the movement of several currency pairs over the past few months to determine the most statistically reliable intraday price movements. One movement I have been very interested in is the pre-Chicago closing (usually starts around 1430 +/-) and then the post Chicago close after 1500. I have observed that prior to the close, a reliable movement takes place opposite the dominant session trend, and many times reverses quickly and hard after 1500. The trade below is a trade using that idea that netted 94 PIPS with two quick trades. I had a bad entry on the first trade and got out a bit early otherwise the PIPS would have been considerably more. The same patterns were also observable on the GBPUSD and GBPJPY during the same times as well as on the EURUSD.
I am currently backtesting this trade idea extensively as well as studying the time of day per currency pair that show the most movement (best times to trade) and the average range of this movement as far down as 5 minute to 5 minute timelines to find correlations.
Below is the trade as shown on the 5 min chart:
GBPCHF 14:30 and 15:00 Market Imbalance trade
GBP Crosses showing same closing patterns