London Session Forex Trading strategy

The most important session in forex market is the London session. Most high impact news of Pound and Euro comes in this session. There is high probability of making lot of pips in this session provided that you have a solid understanding of fundamental and technical analysis.

I mainly use an indicator to draw the high and low lines of Asian session. This gives me a comfort to find if the London session is bullish or bearish. I always like to trade GBP USD (POUND DOLLAR) London session has high impact on this pair .

I also use daily open line indicator to see where the price started or opened. Below daily open line is bearish and above daily open line is bullish. I also use 5 and 10 EMA to give me a trend indication. For confirmation i use RSI 10 period indicator. If RSI is below 45 from above its bearish and if its high of 55 level then its bullish momentum. I normally wait for high impact news that can drive GBP USD up or down. Based on fundamental and technical analysis i risk 5% of my capital . That is 50$ or 50 Pips on a 1000 USD account.

Here is an example how i trade