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This document provides a strategy guide for trading the GBPUSD currency pair during the Frankfurt and London session opens. It outlines two main pillars - understanding session volume and key support and resistance levels. It then describes four trading setups to watch for: 1) break and retest, 2) breakout play, 3) fakeout play, and 4) rejection play. The goal is to only take trades when these specific patterns form at identified levels, in order to achieve a positive probability of profit over time.

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Denon Hudson
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31 views7 pages

Who Knows

This document provides a strategy guide for trading the GBPUSD currency pair during the Frankfurt and London session opens. It outlines two main pillars - understanding session volume and key support and resistance levels. It then describes four trading setups to watch for: 1) break and retest, 2) breakout play, 3) fakeout play, and 4) rejection play. The goal is to only take trades when these specific patterns form at identified levels, in order to achieve a positive probability of profit over time.

Uploaded by

Denon Hudson
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 7

STRATEGY GUIDE

Through the years of trial and error, along with gathering data over various
market conditions, I've developed and refined this approach to the market
making it as simple and effective as possible.

Don't get me wrong, the edge we have in our trading performance lies within
ourselves and our own mindset, however having an effective toolbox when taking
on the financial markets is the first step to our success.

So with a couple years of consistency and profitability under the belt, I'm more
than happy to show you how.

Enjoy!
The Theory

Trading in itself is simple but not easy, we need to understand a couple different
core ideas. Having a proven trading plan is 1 of them.

Keeping things as simple as possible will save endless headaches and stress and
ensure longevity in your career.

There are 2 main pillars to this approach:


1. Session Volume
2. Key levels

Once you gain confidence in understanding how these work the rest becomes
easy.

So our friend (and I say friend because it's something we get to know very well
over time and respect) is GBPUSD. And our trading hours are the 1st 1-2 hours of
the Frankfurt Session and London Session Open (use fxhours to see what times
the session open is your side of the world)
So when we open our charts pre Frankfurt open, the main element we are paying
attention to is the structure that has been created during the Asian Session.

Starting on the 1h timeframe we get a higher timeframe perspective


understanding of what price is doing (paying attention mainly to the
candlesticks) and working our way slowly down to the M15 and M5 timeframe we
then start marking off key levels such as the Asian highs and lows along with any
other key structural points we can identify that have been created during the
Asian session, these are the levels we will be looking to trade off of when the
session opens and volume steps in. So we are only trading once price exits this
box.

The next part of the trading plan (toolbox) is the trading setups we use (tools)

There are 4 setups in our trading plan. So once the session opens, we wait for
price to pull into one of our key areas we've marked out, wait for 1 of our setups to
form and then execute. It's that simple.
Now understand that trading is purely a game of probability. The setups won't
win 100% of the time but the key is to make sure that we are profiting more than
we are losing. That's the key to success in trading. So if for example we are risking
1% of our capital on a trade, we want to be making at least 2% on the trade.

So here are the 4 setups we trade:

1. Break and Retest (B/R)

Price breaks above/below a key area we’ve marked, pulls back into the area and
rejects the area again continuing into the same direction. Looking something like
this.
Next setup we trade

2. Breakout Play:

We've identified a key level that has multiple rejections, price trades into the
level, has a small rejection and then breaks out with a m5 candle closure
above/below the level as confirmation to enter.
3rd Setup: Fakeout Play

Easy to identify this trade is simply a fake breakout. Price breakouts a key level
and then immediately closes back below
4th and the last setup: Rejection Play

Price trades into a level and simply rejects it with a strong candlestick formation
along with session open volume.

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