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Londonopen

EU analysis coming into London openToday we have a much clearer picture vs yesterday. On the higher timeframes we have built a lot of liquidity ready to shoot to the upside. During the Asian session we have ranged nicely, and really have ranged since NY. This is created even more liquidity for the upside. Under the current range we have the range which initiated the bullish move, this hasn't been truly tested. With equal lows I am expecting price to push down into the discount of the 1hr buy range along with mitigating the range that initiated the move. The red box indicates the region I will look to enter long from with appropriate LTF confirmation. As always trade safe. Envision EJ
Long
by EnvisionEJ
GBP/CAD Potential Buy OpportunityGood Day Traders, I hope all is well. These are my thoughts for GBP/CAD. After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support. The market is creating a series of downside wick rejections on the 1hr and 4hr timeframe , indicating strong buy pressure. Advice: Stop trying to always being right. I myself have lost countless trades out of pure stubborness. The markets are always right. When you are wrong , cut your losses. Theres no point holding a trade in hope it may reverse in your direction eventually. Get out and look for a better opportunity. I wish you all a splendid day. Lets make this shmoney! #Forexprodigy
Long
by forex_prodigy
(GBP/USD) Potential Sell OpportunityGood Morning Traders. I hope everyone has had a great week so far. These are my thoughts for GBP/USD. After a strong push to the upside momentum is finally starting to exhaust. I expect price to correct before continuing on an uptrend. Reasons for trade: - Strong wick rejection on 1hr indicating sell pressure. - Price over brought Advice: Trade one pair at a time. Its best to focus you attention on one thing at a time. Peace Out Forex Prodigy.
Short
by forex_prodigy
9
EURAUD 15M BIG BEN BREAKOUT TRADING STRATEGYRule #1 Define the London Trading Range We’re going to use the range definition that takes into consideration only the body of the candles, excluding the wicks. Note* this trading rule can be adapted as you get more experienced at reading the price action. This strategy works because the Asia trading range tends to attract buy and sell stops above and below the trading range. The bulk of buying and selling stops becomes an easy target for the smart money. Remember that traders need liquidity to execute their orders. And, the smart money is always in search of liquidity to fill their large orders. That’s the reason why the smart money needs to trigger those stops. Rule #2: The One-Hour before the London Open Needs to Generate the Breakout Our backtesting results revealed that momentum really starts to pick up 1-hour earlier than the actual London opening session. There are some smart ways to trade this burst of momentum. Let’s see some technical ways to trade the pre-London open. We don’t need to guess in which way the market will break, we let the market tip his hand and show us the way. This is where things get interesting. Let me explain… During the London session we’re going to see the most traded volume thus the foreign exchange market should really take off in one direction or another. Rule #3 Price needs to fade Immediately after the London session opens, we want to see the price fading the pre-open move. If the move starts fading, we know it was a false breakout. Smart money has used the pre-open move to trigger the stops above the range and now they reverse the tie and start selling. We want to see price pulling back into the range at the same speed as it went up. Let me explain… In simple words, the bearish momentum used to produce the false breakout needs to be equal to the bullish momentum used to fade the pre-open move. We enter our trade after the first 5-minutes have confirmed that the price is reversing. Once this trade setup is completed, you should see a price formation that takes the V-shaped form (or inverse V-shape). Rule #4 Take Profit or Ride the Trend We can measure the size of the Asia trading range and project from the top or bottom of our range to get our profit target. But, oftentimes this type of setup can lead to a trading day that can extend in the days to come. Now, in this case, it’s wise if you employ other trading tactics so you can actually profit from this trend. In this example, the better take profit strategy would be to use a trailing stop. You need to be ready to explore other trading methods to manage your trades. Rule #5 Use a Time Stop Instead of a Price Stop In order to fade the London breakout, you need to use unconventional trading methods. In this regard, for our stop loss trading strategy we’re going to use a time stop instead of a price stop. The first time I’ve ever heard about the time stop concept was while reading the Market Wizards book. Billionaire Hedge Fund manager Paul Tudor Jones one of the greatest traders of our times said: “When I trade, I don’t just use a price stop, I also use a time stop.” So, how to apply the time stop to the London strategy? It’s very simple… If, in the first hour after the London open the price didn’t COMPLETELY reversed the pre-opening breakout, we exit the trade. It’s simple as that, no further explanation is needed.
Education
by Tradingstrategyguides
GBP/AUDHello guys ! I'm posting this idea for the London session on tomorrow morning. On this chart we have two oportunities, a long one and a short one. First one, the short oportunity is from 1.95579, sell to first support at the 1.95053, at this price is also one key price of the fibbonaci when our pair was changed bias from long to short. After that, we have an other strong support, tested twice on 13 and 14 February. At 1.94328 he can also have a short oportunity, the target can be at the 1.93723. After testing those two support line, we can go on long, overall we can profit for 4 time on this pair, 2 longs and 2 shorts. We also have an uptrend on 1 H, 4h and Daily. But please keep in mind that for our long setup we must to have a reaction from the price. So one more time, we can go short from 1.95579 with TP at 1.95053 and SL at 1.95680 An other short from 1.94328 with price traget at 1.93723 and a SL at 1.94550 And our longs are from the 1.93723 to 1.94115 with a Sl at 1.93550 and the second long from 1.94428 to 1.94950. Please press the like button also a comment will help me as a motivation. Thanks and keep in profits ! Also in short term from now i want to start an investment group, free, a long term investment, just send me a messenge so i can invite you, thanks a lot !
by Andrei_C