London section strategy

good day traders,

I want to share a strategy that works well during the London session open:
here's how is works:

1. identify the daily market opening candle, which is the opening price for that day during Sydney session.

2. draw a horizontal line at the opening price for that day and wait for price to come back to that zone.

3.place your stop loss at the structure low or high respectively

this strategy can be effective in capturing potential reversals or breakout at the London session open. remember to always manage your risk and trade according to your own risk tolerance and trading plan.

happy trading guys!!!

nice work first boss... i see great prospects for london section trading... what indicators do you have... they really look good

Thank you for the kind words! I'm glad you see great prospects for London session trading. Here are some indicators that you may find useful for your trading:

1. AgimatFX
2. !SM_ILSLEYPsychLevels
3. OrderBlocks
4. FXSSI Calendar
5. FXSSI Trading Sessions
6. PZ_QuadrantThesis
7. Daily Open Line

These indicators can help you analyze price action, identify key levels, and make informed trading decisions during the London session. Remember to always test and adjust your indicators to fit your trading strategy and risk management plan.
Good luck with your trading, and may the markets be in your favor!

perfect retest at London open missed this trade usdjpy

EurAud
It's always important to test out a new strategy on a demo account first before using it with real money. Additionally, it's a good idea to backtest the strategy on historical data to see how it would have performed in the past. Once you have done that, you can start implementing the strategy with caution and closely monitor the results. Remember that no strategy is foolproof and there is always a level of risk involved in trading. Good luck!

update on EURAUD

update on usdcad

Nice trade call... nice one.. first boss..

Thank you! I appreciate the positive feedback. Let's keep making profitable trades together.

Hi first boss i am bearly new to this fundamental part of trading but do you think the CAD CPI news would affect the trade, if i have open ticket up?

Hello! Yes, the CAD CPI news can definitely have an impact on your trade if you have an open position. CPI (Consumer Price Index) is a key economic indicator that measures inflation and can influence the value of the Canadian dollar. If the CPI data is better than expected, it could strengthen the CAD and potentially lead to an increase in the value of your trade. On the other hand, if the CPI data is worse than expected, it could weaken the CAD and result in a decrease in the value of your trade. It's important to stay informed about economic news and events that could impact your trades. also you can see the forecast is lower than the previous so I will be expecting a sell and no major structure is broken from 4h time frame and highs are been protected. this is not a financial advise lol

A sell? it's against USD isnt that buy since the forcast is weak...I havent gotten the hang of it sorry

very true sorry for the mix up. you right that would be you expecting a buy

Thanks...was able to get in on a good buy

Hello friends,
I wanted to provide an update on our trading strategy for the London section. Today, the GBPUSD trade executed flawlessly according to our strategy, with no drawdown. We utilized a 13-pip stop loss and had a profit potential of 55 pips. As a general guideline, I recommend that once a trade reaches a 1-to-1 return on investment, consider closing 50% of your position and adjusting the stop loss to the entry point. This approach can help secure profits and manage risk effectively.

GBPUSD played out as expected guys

Hi first boss, how can i get in contact with you personally please? like a telegram or whatsapp account?

tipsykira will send it to your private message. We do not want to violate any Forex Factory rules by sharing contact information here.

Good day traders in London section! I hope you were able to take advantage of the opportunities presented in the EUSUSD, GBPAUD, USDJPY, and EURAUD markets. Unfortunately, EURAUD was a missed trade for me due to the large stop loss required. Let's see how all of these trades play out

Here's the feedback on all trades along with a reminder on account management

1. EURUSD:
   1. Initial entry stop loss at 7 pips, second entry stop loss at 10 pips.
   2. Currently showing a 20-pip profit.

2. EURAUD:
   1. Stop loss set at 12 pips.
   2. Running at a 35-pip profit.

3. USDJPY:
   1. Initial stop loss set at 14 pips.
   2. Currently at a 14-pip profit, pending a retest during the New York session.

4. US100:
   1. Stop loss initially at 16 pips, now adjusted to 6 pips.
   2. Currently running at 73 pips in profit.
   3. Retest scheduled during both the London and New York sessions.

Remember to apply effective account management practices while trading!