3 Step London Close Forex Trade Strategy: Whatever you have previously learned… throw it in the garbage immediately! Follow our 3 Step London Close Forex Trade Strategy to properly trade the London Close.
Step 1: Identify a Double Bottom or Double Top Reversal Pattern at an Important Level (Either a Figure, Daily Pivot, Weekly Pivot, Monthly Pivot, or a Support and Resistance Zone).
Step 2: Make sure the 2nd Bottom or the 2nd Top is at or around the London Close (5pm London Time).
Step 3: Optimize Your Entry. Stop Losses comfortably below the Double Bottoms, or Stop Losses comfortably above the Double Tops. Set an ideal Take Profit and Stop Loss to satisfy our Reward to Risk Ratio of 2 to 1.