6/7/23, 12:00 AM LONDON FIX STRATEGY | The Prop Trader

The Prop Trader <

https://theproptrader.co/>
ICT Concepts

Oct 04 2021 < https://theproptrader.co/2021/10/04/fix-

bos-strategy/>

Protected: LONDON FIX

STRATEGY
LONDON FIX STRATEGY
The WM Reuters Benchmark London Fix is at 11:00 EST / 16:00 GMT
everyday. Made by taking an average of the exchange rate in currency
trades from 10:57:30 ET thru 11:02:29 ET.
The exact prices can be found here on Bloomberg –
https://www.bloomberg.com/markets/currencies/fx- xings <
fi
https://www.bloomberg.com/markets/currencies/fx-fixings>
The London Fix strategy is particularly effective on the 5 Major FX Pairs:
EURUSD, GBPUSD, AUDUSD, USDCAD and USDCHF.
The Benchmark rate can be pivotal for the day, this is especially true for
the Tuesday and Thursday Fix which have a higher probability when back
tested.
Mon LD FIX – Retested on Tuesday/Wednesday (90%)
Tues LD FIX* – Weekly Pivot – Retested on Wednesday (70%) –
Start of trend
Wed LD FIX – Trend Continuation
Thu LD FIX* – Weekly Pivot – Retested on Friday (70%) – End of
trend
Fri LD FIX – Retested on Monday

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The 60min LD FIX Strategy signals a trade if the hourly candle is clearly
rejected off the Fix level. A rejection would be indicated either by a
hammer, shooting star or a pin bar with a long tail.
Order Entry should be a Sell / Buy Stop 1-tick above / below the
rejection candle
Stop Loss (SL) should be placed 1-tick above / below the rejection
candle
Take Pro t (TP) should be placed at the previous Swing Low / High
fi
An example of the effectiveness of the Thursday LD FIX can be seen here
on Thursday 10th February 2022 at 13:00 EST / 18:00 GMT on the pair
EURUSD:

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EURUSD 1H – Week Starting 7th Feb 2022, PA moves up into the FIX

EURUSD 1H – Rejection at the Fix level and a 5R short trade to the swing low

The LD FIX acted as resistance. EQHs, an Imbalance and a test of the

Weekly Highs fueled the move lower as retail traders placed Buy Orders at
these levels, providing liquidity for the Institutions to sell into.
Here are the Order details:
LD WMR FIX – 1.1467 – 10th February 2022
Sell Stop – 1.1460 – below 13:00 EST / 18:00 GMT 1H candle
SL – 1.1475 – above 13:00 EST / 18:00 GMT 1H candle
TP – 1.1375 – previous days low
5:1 Risk-Reward

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EURUSD 4H – showing Weekly EQHs & Imbalance

Further examples of recent LD FIX price action can be found here:

TRADE SIGNALS – LD FIX TRADES

The Prop Trader 0

PRE-FIX LIQUIDITY GRAB STRATEGY

Time & Price requirements for a pre-London Fix Liquidity Grab:
1. Price – LTF DOL – EQH/BSL, EQL/SSL or 4H/Session High/Low
2. Price – HTF POI – FVG, PDH/PDL, etc.
3. Time – 10:47:30 thru 10:52:29 and 10:57:30 thru 11:02:29
If there is a Draw on Liquidity above or below the 10:45 ET Candle, enter
and target the DOL. Close all trades by 11:00 ET, as price generally
reverses at the Fix.

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If the Tuesday and Thursday London Fix are in alignment this is a high
probability reversal area.

BREAK OF STRUCTURE
Market Structure is the technical structure of any market that appears
over time as one primary position holds the majority of the strength
(buyers or sellers). Market structure is a key technical understanding to be
able to identify what the market has been doing in the past and what it has
the potential to do in the future.
Market Structure is the continuous series of Higher-Highs and Higher-
Lows (bullish market structure) or the continuous series of Lower-Highs
and Lower-Lows (bearish market structure). When market structure is non

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relevant and there are no Higher-Highs or Lower-Lows, this is a time of

consolidation.
For markets to move up and down a break in market structure must occur.
A Break in market structure occurs when the market begins to shift
direction and break the previous Higher-Highs (HH) and Higher-Lows (HL)
or Higher-Lows (HL) and Lower-Lows (LL) of the market.
A Break of Structure (BOS) is required for the market direction to change.

EURJPY – A clear BOS and retest of Order Block @ 128.30, followed by a strong push higher

APPENDIX
https://drive.google.com/drive/folders/1U1NtQ9e-
Uf61BRTmrxWDMxaFXiGWCDbi?usp=sharing <
https://drive.google.com/drive/folders/1U1NtQ9e-
Uf61BRTmrxWDMxaFXiGWCDbi?usp=sharing>

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