I'm gonna give this a try. 3 consecutive H1 candles, watch for a reversal, limit positions at trigger lines <00, 25, 50, 75>, TP 6 pips. Since you mentioned of a dramatically increased probability of momentum taking charge if 7+ directional pips are registered, I'll probably use the 80/20 rule and hold a 20% residual at risk for the potential windfall.
Just to be sure: trading is on the M5 right? Cos I'm a lousy scalper with an incredibly poor track record using anything less than 5 minute bars. I usually do 5-15 minutes (using the M15 as an intermediate directional guide) and concurrently getting feedback from H1,3 and Daily charts.
What I'm doing ATM: shorting USDJPY and then shorting EURUSD to an equivalent extent using whatever correlation there is between the cross pairs to hedge against adverse movements (not really a cross since USD != EUR, but anyway...). This is also a low pippage strategy which requires high volume to generate sizable income. I on the other hand am happy enough with crumbs as long as I still get to keep the loaf. What's your take on synthetic spot hedging?
Oh, and I hope you do realize that if this doesn't pan out, I'll be out bustin' skulls (your's most likely).
Seriously though, thanks for the freebie heads up.