There is another version of this (which may have cropped up already in the middle of your thread) where you wait for a significant break, then a pullback, then place a stop order at the high/low and a stop loss at the low/high of the pullback. If you get filled, you usually get an input of volume enough to take at least 20 pips or so and often with a tighter stop. You can move to break even pretty quickly as the volume gets you clear and if you don't get filled, it's a pretty good indication that the move isn't there.
It's explained in very first post in the thread: the method described involves entering buy/sell-stop orders at 3.00pm on the basis of the state of the Cable and EUR/USD markets between 1.00pm and 3.00pm.
Sorry, have been a bit pushed for time to read properly. Anyway, thanks for posting your strategy. It's interesting and something I was considering having traded the European morning break before. Hope it's continuing to work for you, although I wonder if you have managed to squeeze a bit more out of it by now, perhaps with a runner and trailing stop as well as the target?
Thanks ... yes: I do it slightly differently now, and in a more complicated way, allowing a proportion of winning positions to run further. In 2014 it had ten successful months and two (actually pretty minor) losing months. So far in 2015 it's had one minor losing month. But I got off to a lucky start with it, as the month's results of +266 pips "proofed" in this thread turned out to be above average.