The simplest EUR / USD trading technique

1. EUR / USD trading technique with the London Breakout Strategy
As the name implies, the London Breakout strategy relies on the occurrence of a breakout at the beginning of the London session.

To apply this EUR / USD trading technique, you need to open the chart on the Hourly (H1) time frame, then confirm the chart model as a Candlestick. After that, follow these step-by-step instructions:

Know the time settings on the platform. It will be easier if the time setting is based on GMT or WIB (GMT + 7); but if it's not possible, then you can adjust it manually. In the London Breakout strategy, you need to be very precise in recognizing London's opening hours and closing hours (15:00 GMT).

After the London session opens and the price starts to form a new candle (> 7:00 GMT), mark the three previous candles (the last three candles of the Tokyo session). The marker can be two horizontal lines which are equal to the highest peak and the lowest valley between the three candles.

Prepare a Pending Order. First, place a Buy Stop around 5-10 pips above the Resistance line. Second, place a Sell Stop about 5-10 pips below the Support line. This 5-10 pips distance is not standard, so you can adjust it yourself with trading volatility on that day.
Leave the two Stop Orders until one of them is triggered. After something has been triggered, then immediately cancel the Stop Order that has not been triggered. For example in the screenshot example above, it is clear that Buy Stop is triggered, so you need to cancel Sell Stop.

This manual cancellation is not necessary if you use an OCO Order because an un executed position will be canceled automatically; but unfortunately, not many brokers provide this feature, so you might only be able to use a Pending Order.

Take Profit and Stop Loss can be done based on risk / reward ratio rules, your assessment of the market situation afterwards, or by applying a Trailing Stop. No matter what method is used, what is important is that Take Profit and Stop Loss must be done no later than one hour before the London session closes.