London open prep:15 minutes before 08:00.
The London session is where most of the day’s volume starts. The 15 minutes before 08:00 decide whether you trade the open with a plan or react to it.
Here is our London prep.
Asia and the briefing
Check what moved in Asia in Realtime Headlines and read the Macro Briefing. Write the story of the day in 1 sentence.
The Asia range
Mark the Asia high and low on your markets. London often tests 1 side early. Your plan says which side fits your bias.
Use it in real trading
The tool informs the decision, it never makes it. Here is how it plays out on real trading days.
EURUSD is bearish and London breaks the Asia low. You follow on the retest.
London spikes above the Asia high against the bias and fails. You wait for the move back inside.
Mistakes to avoid
- Trading the first 5 minutes.
- Ignoring what happened in Asia.
- Having no plan for the Asia range.
What makes it different
The Asia recap, the briefing and the levels are in 1 workspace, so the prep takes 15 minutes, not 45.
Questions
When does London open?
08:00 London time.
Why the Asia range?
It is the first reference the London traders react to.
Can I use this for gold?
Yes, gold often moves at the London open too.