Posts Tagged ‘London’

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FOREX VIDEO – London Session Review – October 22, 2009

June 13th, 2010 by admin | 5 Comments | Filed in forex technical analysis


Yesterday we enjoyed quite a Piptopia on the British Pound breakout of a Daily trendline to the upside. Sure enough, today was our opportunity in London to short it back down to the trendline retest. Pre-London gave us our first lower high to work with on the GBP/USD, and the 2hr EUR/GBP started developing a higher low to give us confidence in the move. The rest of the London session was spent reloading shorts at every Fibonacci pullback possible and turning a 100 or so pip move into a 250 pip play due to exponential reloads, I just love days like this, purely technical. Bad Retail Sales for Britain helped finish the job and there we were, right on our target zone to take profit, could not script it better really. FXBootcamp London Currency Coach- Christian Stephens
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FOREX VIDEO – London Session Review – July 30 2009

June 1st, 2010 by admin | 4 Comments | Filed in forex technical analysis


During Pre-London today the British Pound Sterling began showing signs of strength against all comers, and offered a nice higher low entry on GBP/USD that carried eventually all the way until the daily R2 reversal pivot point. Great trade, was very rewarding. However, should you have arrived into the market JUST AS London opened, around 3am NY time, the only conservative way to join this move mid-swing was a decent pullback. Using correlation with EUR/GBP, along with all of the GBP pairings at the same time, we built two trade plans to re-long GBP/USD, and GBP/JPY. Unfortunately the GBP/USD just barely missed our entry criteria, so unless you were in since pre-London, it was rather difficult to long and feel fantastic about the risk. However, as greatly detailed in this video, the GBP/JPY pullback did indeed get near enough to our trade plan’s entry zone, and furnished us with a nice short term higher low exactly when we wanted to see it. This information, along with GBP correlation beginning to show continuation (eur/gbp etc.) gave us the confidence to take our entry here with a very minimal stop loss of 15-30 pips depending on the support you chose to place your stop loss under. End result, as the video shows, was a very clean 70-80 pip trade that allowed us to lock in break even, and subsequently what we call MAP at FXBootcamp (Minimal Acceptable Performance) of 15 pips very easily and quickly. Once that was done we simply awaited the 157 zone which we had as …
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FOREX VIDEO REVIEW: London Session February 2, 2009

June 1st, 2010 by admin | 2 Comments | Filed in forex technical analysis


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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FOREX VIDEO REVIEW: London Session March 30, 2009

May 31st, 2010 by admin | No Comments | Filed in forex technical analysis


Asia into pre-London today continued the sell off on the Japanese Yen pairings from Friday’s fantastic drop off the daily resistance. The end result is we found ourselves at definitive support in pretty much every flavor on the Yen pair longer term charts, such as new weekly pivots, and long term trend lines. Opening a major market such as London “ON” support will generally lead to a rise before ever having a chance to fall again (due mainly to profit taking), such as a longer term Fibonacci pullback etc. Well since our London session is only a few hours long you have two choices. Either wait for the eventual longer term pullback entry, which could take until New York or never come, or conservatively set up high reward/low risk counter trend trade plan’s hoping to take advantage of the mass profit taking going on. While we covered multiple pairs in the session, in this video I focus on just one of these pair’s, the GBP/JPY. Using thing’s like, price trap’s, higher low’s, and Fibonacci on shorter term time frames we were able to plot a nice profit potential trade with a very low risk entry that ended up working out very nicely for around 125 pips if entered properly. Also this is after first being stopped out break even from an earlier attempt. Trading is hard enough as is, counter trend however requires an even more disciplined approach. Once we hit our target, early in the New York session a high quality re short into the direction of the original trend on the 4 hour did …
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FOREX VIDEO REVIEW: London Session May 21, 2009

May 30th, 2010 by admin | 3 Comments | Filed in forex technical analysis


After yesterday’s break on the GBP/USD of the Daily chart channel top, and subsequent hit of the Daily 200 ema, we were poised for possible short trade setups after a 15m lower high developed. We were anticipating a retest of the Daily 5ema zone, channel top retest, as well as the 4hr 21ema, and 38.2 Fibonacci pullback, before any possible larger rise. As technical as we were set up to be, we were slapped with some surprise Fundamental news, when S&P downgraded GBP, citing debt was nearing 100% GDP. This news sparked an immediate weakness in the British Pound Sterling across the board, on any pairing. While there were some ways to wiggle into this short, it truly covered 200+ pips in 5 minutes, it was very quick. This Fundy news took us too our overall short target much faster than ever anticipated, but yet we found ourselves at substantial support on the GBP/USD pretty much right away. In this video I show how we determined a take profit scenario on the short, and subsequent long opportunity to take advantage of the cashing out going on. This long produced anywhere from 75-135 pips depending on profit taking strategies. This was such an overlap of support that once we saw higher lows develop on the 1m chart it was pretty much all that was needed to take the chance, with a 30-40′ish pip risk for 75-150 pip possibility, nice risk vs. reward. Nevertheless I show how we entered this using a simple Fibonacci study along with actual price action in those zones. Additionally in …
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