Quite a pre-London move was in play to start today’s London session on the Japanese Yen pairings, and one could have found themselves up quite a nice amount of pips already to start the London morning. In this video however, we highlight how using primarily Fibonacci retracement levels, along with currency correlation (EUR/GBP, GBP/USD, USD/JPY) we were able to plan and execute a high quality short continuation on the GBP/JPY, since the British Pound was very weak at the time, for a relatively painless and quick 140′ish pip trade. This continuation move took place entirely in the London morning session. Also in this video we show how we were able to determine how to take profit using short term charts to tell us when to get out of the way. Additionally we highlight both a counter-trend long on EUR/JPY and subsequent re-short off the 38.2 Fib pullback zone and 21ema on the 15min. It was a very active session that having multiple charts open at once gave a much clearer overall picture. If you were on the ball it was a fantastic session, especially if you started in pre-London.
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Tags: 2009, February, Forex, London, Review, Session, VIDEO

Today’s London session started off with a bang! We found ourselves in a very definable triangle price trap pre-London which was breaking just as the London boys sat down to play along with the rest of us. The top of the day had started with a bounce off the daily central pivot point/hourly 21ema, and now it was quite obvious money was starting to change hands at the open. Once the lower low/break had occurred we verified the British Pound’s intentions using the EUR/GBP pair which was correlating perfectly with Pound weakness at that time, as illustrated in the video. Then using a simple Fibonacci retracement study on a short term chart we were able to identify our best area of reward vs. risk for entry, then off to the races we were. Then around 20 minutes after the open we identified one additional pullback entry opportunity for those who missed the initial entry. In this video we discuss in great detail how we setup this trade plan, which could have been taken on any pound pairing (GBP/USD, GBP/JPY, GBP/CHF, EUR/GBP), projected our targets, and finally took profit at the daily S2 reversal pivot point. What a wonderful session to be short the British Pound Sterling. FXBootcamp London Currency Coach- Christian Stephens
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Tags: 2009, February, Forex, London, Review, Session, VIDEO