Continuing the focus on London open trades 2

OK the previous post gave some of the trade rules. To look at a chart with some explanations.

We had:

- the eur falling across many pairs so the eur was genuinely weak. 
- a failed move higher and clean AB move lower.
- the test or break and test of a range around London open see the red line.
- small retrace to set up the lower high (abc, 123 pattern)

So in summary a failed move in and around London open in one direction usually means a move in the other (followed by a higher low for a buy or lower high for a sell) has a high chance of success. Getting the direction of the day right with pairs with high ADR's will on most days give positive results.