Rising risk appetite has been the dominant theme over much of the Q2 corporate earnings season. For the EUR/JPY currency pair, that has translated into an up day on 3 of every 4 trading days over the prior four weeks, and another up day was in the making at today’s New York open. The release of an awful US retail sales report changed that in a hurry. During the three hours after news, the yen managed to recoup its losses against the euro. A short trade setup, discussed some 30 minutes in advance, ultimately produced a profit of up to 100 pips for those traders who waited patiently for the post-news retracement on the euro yen. Curt Wehrley FX Bootcamp’s Quantitative Analyst
-
FOREX VIDEO - New York Session Review - August 13, 2009
- Tags:
- Daily market commentary
August 14 2009, 4:05am | Comments »
-
FOREX VIDEO - Pre London Outlook August 14th 2009
Hi everyone, I think today is going to be a challenging yet interesting trading day particularly on the majors. Technically we have reached some areas of conflict for longer term a shorter term speculators. I analyze the Euro USD and Cable today. I try to keep it simple but timing your trades needs to be done with some care today as inaccurate entry may leave you in some unmanageable positions. Good luck and I hope you enjoy the video. David Pegler
- Tags:
- Daily market commentary
August 14 2009, 1:46am | Comments »
-
FOREX VIDEO - London Session Review - August 13, 2009
As has been the theme for a while now, we opened London continuing a long GBP/USD, and long GBP/JPY that began in early pre-London trading. As London opened, we found ourselves retracing perfectly to our Fibonacci retracement zone along with the 15m 21ema. This pullback was happening without actually reaching resistance at 6610-6615 first, so we felt very confident in building a trade plan for longing off support, targeting at least this resistance. To make things even more interest, as depicted in the video, we observed very obvious MACD divergence with price action on bot the EUR/GBP and GBP/CHF 2 hour charts, which both were indicating British Pound strength was likely on the way for a bit. Our first pullback entry netted us maybe 30 pips tops before making an overall lower high and stopping us out +15 pips. In this video I highlight in great detail how we built the next long trade plan for both an aggressive style entry, and a more conservative entry, once we respected support the next time. Sure enough we broke the trap, and ultimately reached our target for a nice 70′ish pip trade for most, and even made it past resistance for those that did not take profit. The money is made in the waiting folks! FXBootcamp London Currency Coach- Christian Stephens
- Tags:
- Daily market commentary
August 13 2009, 3:18pm | Comments »
-
PHOTOS: Forex Expo & Jamboree 2009
Click the image above to see the photos from the FOREX Expo 2009. Or visit http://www.facebook.com/fxbootcamp Enjoy! PS: Thank you Connie for taking the pics for us! Bravo!!
- Tags:
- Daily market commentary
August 12 2009, 10:36pm | Comments »
-
FOREX VIDEO - London Session Review - August 12, 2009
As we approached today’s London market open, we found ourselves in a nice continuation short on GBP/USD and GBP/JPY from a late pre-London entry. However, exactly as London was opening we found the GBP/JPY sitting exactly on the daily S2 reversal pivot point, along with also sitting on the weekly S2 reversal pivot point. How often does that occur, not often right? Anyway, we also were sitting on a trend line support for the USD/JPY (daily chart), along with GBP/USD at it’s M1 reversal pivot point. That’s a very large amount of support to be sitting on just as London money enters the market. So as bearish as we had been prior, the charts were screaming at us to at minimum take profit on our shorts, possibly waiting for a reload later. With the support being so perfect at the open, it also begged for some counter trend scalp action if one was up for it. I do not like to make a video on a counter trend play, as I believe when a trader is first learning consistency, it just should be avoided. However, as one gains experience, there are some nice opportunities, such as this one, that often present themselves. So in this video, which turned out way longer than I would have liked, I focus mostly on how we took counter trend, reversal type entries on the GBP/JPY and GBP/USD off support, both for quick scalp profits exceeding 50 pips each, along with a 100+ pip entry on GBP/JPY afterwards. Today was a crazy day with a higher quantity of entries than normal, both counter trend, and directional plays, but overall it added up to a very nice pip day if you were on your toes. FXBootcamp London Currency Coach- Christian Stephens
- Tags:
- Daily market commentary
August 12 2009, 5:02pm | Comments »
-
FOREX VIDEO - Pre London Outlook August 12th 2009
Hi everyone. For this outlook I take a look at the Euro USD and the Pound Swissy cross. We have had a good run especially for the Euro but have run into some fairly strong support for both pairs. I don’t think a retracement for both currency pairs is out of the question by any means. I have drawn up two “price trap” related trade plans. Lots of basic support and resistance as well as Fibonacci analysis. Good luck!! David Pegler
- Tags:
- Daily market commentary
August 12 2009, 3:16am | Comments »
-
New FOREX Video: Fundamental Trading Strategies
If you use Social Networking Sites, then you can get our forex videos even faster: 1. http://www.twitter.com/fxbootcamp 2. http://www.facebook.com/fxbootcamp 3. http://www.youtube.com/fxbootcamp Hint: You can even have your videos TWEETED to you directly. Just signup for our forex video newsletter and register your Twitter details. When we add a new video, you will get a direct tweet with the new link. http://www.fxbootcamp.net/fx/index.php?option=com_wrapper&Itemid=99
Best regards,
Wayne McDonell FX Bootcamp, LLC
YOUR QUICK FOREX HOTLINK REVIEW FXSTREET.COM 2 Hour FOREX Trading Workshop FOX BUSINESS TELEVISION What is FX Bootcamp?
BLOOMBERG TELEVISION How to Manage Risk with an OCO Order: CAROL DUNN, FXBC MEMEMBER SERVICES Personal Tour of FX Bootcamp
- Tags:
- Daily market commentary
August 11 2009, 10:31pm | Comments »
-
FOREX VIDEO - New York Session Review - August 10, 2009
The GBP/USD was the only major currency pair which had shown any significant movement during today’s London session. By the open of the New York session, traders had both technical and fundamental reasons to short the cable. A profit of between 65 and 180 pips (depending on exit strategy) was the reward for those who took the conservative, repeatable short trade entry at the 21 ema on the 15-minute chart. Curt Wehrley FX Bootcamp’s Quantitative Analyst
- Tags:
- Daily market commentary
August 11 2009, 4:07am | Comments »
-
FOREX VIDEO - Pre London Outlook August 11th 2009
Hi everyone, for this London outlook I analyze and old favorite the Aussie USD and the Pound Yen. Although I concentrate on the Aussie USD the analysis applies broadly to the USD and Yen in general. The Aussie keeps producing lower highs on a 4 hr level leading us to a downside bias and the Pound Yen is in hot pursuit of some key daily support levels. I hope you enjoy the analysis and please keep the feedback coming. Thanks and good luck. David Pegler
- Tags:
- Daily market commentary
August 11 2009, 2:33am | Comments »
-
FOREX VIDEO - Pre London Outlook August 10th 2009
Hi everyone, hope you had a profitable NFP morning and a restful weekend. For today’s outlook I take a look at the Euro USD and Pound Swissy pairs. I make use of the longer term charts to try and get a fix on what we can expect intraday. Using this analysis I have put together a few trend following trade plans. Nothing particularly complicated, simple support and resistance as well as price action analysis today. Good luck!! David Pegler
- Tags:
- Daily market commentary
August 10 2009, 5:14am | Comments »
-
FOREX VIDEO - Pre London Outlook August 7th 2009
Hey everyone. With another NFP a few hours away this is not a time to be ultra aggressive in the market. Today I take a look at the Pound Yen and Cable; both are a very similar trade plan. I hope you enjoy this video, it’s interesting analysis in that I make extensive use of multiple times frames and lots of Fibonacci work. Please leave me some feedback and enjoy the video. Good luck at NFP. David Pegler
- Tags:
- Daily market commentary
August 7 2009, 2:38am | Comments »
-
FOREX VIDEO - Pre London Outlook August 6th 2009
Hey everyone, happy to be back from Vegas and ready to do some real trading again. For this presentation I examine the Pound Swissy and Euro Yen. Given that this is NFP week I build a few very conservative trade plans. We have officially made our 1st lower high on the hourly Dow and S and P charts. If this is a precursor of things to come it wouldn’t surprise me to see some dollar and Yen strength temporarily creep into the market. Good luck and please leave me some feedback on YouTube, or the Blog. David Pegler
- Tags:
- Daily market commentary
August 6 2009, 2:47am | Comments »
-
FOREX VIDEO - London Session Review - July 31 2009
Just as we opened the London session today, we immediately found ourselves in a beautiful price trap on the GBP/JPY on a 15m/hourly basis. This trap had a very precise bottom at 157.29, which just so happened to be overlapping our new hourly 21ema, and happening exactly at the London open. Also we were bouncing off a 61.8 Fib zone and 2hr 21ema on the USD/JPY to the upside, and the EUR/GBP was starting to fall off yet another lower high itself, all at the same time. So let’s see, we have correlation telling us likely Japanese Yen weakness, British Pound strength, at a precise trap bottom, solid looking support on the 1 hour chart (21ema) all exactly at the London open. Hmm.. Long GBP/JPY anyone? What was so nice about this entry was it’s risk. The horizontal trap bottom/21ema overlap was so precise at 157.29 that one only needed to wait for any green on a short term chart around that area, we used a 1minute there, and place a buy order on GBP/JPY with a stop as close as 10-15 pips below, targeting a trap projection about 120 pips away. The cool thing with this sort of entry, is the risk vs reward was very much in our favor. Probability favored that even if we were wrong on the trade idea, that we would bounce from our entry certainly far enough to lock in break even, therefore having a zero risk trade! Sure enough, within 5 minutes we were +35 pips locked in break even, the rest is history. I detail this trade entirely in this video, and had you held on until London lunch we did eventually make our target of 120 pips or so before falling 50 pips just after, I suppose we were not the only traders seeing this scenario. Have a great weekend folks, see you at the Forex and Options Expo in Las Vegas at Caesars Palace Monday morning! Visit our blog at http://blogs.fxstreet.com/fxbootcamp/ for more information. FXBootcamp London Currency Coach- Christian Stephens
- Tags:
- Daily market commentary
July 31 2009, 3:29pm | Comments »
-
FOREX Expo 2007 & Bootcamper Jamboree!
- Tags:
- Daily market commentary
July 31 2009, 8:42am | Comments »
-
FOREX VIDEO - Pre London Outlook July 31st 2009
Hi everyone. Thanks for your feedback on yesterday’s video please continue leaving me your thoughts in future always appreciated. For today’s outlook I build on this week’s Pound Swissy analysis. I branch out from the traditional intraday analysis and take a longer term view of things; additionally I also build a trade plan for range bound cable. Good luck!! David Pegler
- Tags:
- Daily market commentary
July 31 2009, 2:38am | Comments »
-
Live From The FOREX Expo! Join Us ONLINE!
CLICK “ADD TO CART” TO JOIN THE LIVE WEBINAR: FUNDAMENTAL FOREX TRADING STRATEGIES http://www.moneyshow.com/video/details.asp?wkspid=5C92C12CE65D4BF0958E1D9F9FB2EF25&pg=3 Fundamental analysis creates long-term trends in forex. Technical analysis only identifies entries and exits, however, it does not create the trends themselves. Central bankers, hedge funds, mutual funds, and other institutional investors make most of their decisions based on fundamentals such as economic data, the health of the economy and the results of news. A successful trader should align their technical forex trading strategies with the over-all market fundamentals. This presentation will teach you how to plan like a central banker, invest like a hedge fund, and scalp like an intra-day trader.
- Tags:
- Daily market commentary
July 31 2009, 12:10am | Comments »
-
FOREX VIDEO - London Session Review - July 30 2009
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 resistance, also this was the GBP/USD daily R2, and EUR/GBP’s weekly S2 reversal pivot point. Overall, this was a Pound feast, with correlation help galore, have a great day folks! See you at the Las Vegas Expo Monday! FXBootcamp London Currency Coach- Christian Stephens
- Tags:
- Daily market commentary
July 30 2009, 3:19pm | Comments »
-
FOREX VIDEO - Pre London Outlook July 30th 2009
Hey everyone looks like another challenging day shaping up for a few currency pairs. In this video I continue with the Euro Yen and Pound Swissy analysis that we have been looking at for the week. I bring nothing new to the table today. I put together a few trade plans that are simple and trend following. Please leave me some feedback on YouTube or the blog even if it’s a hello. Good luck!! David Pegler
- Tags:
- Daily market commentary
July 30 2009, 2:31am | Comments »
-
FOREX VIDEO - New York Session Review - July 29, 2009
Rinse and repeat. Yesterday was a down day for the EUR/USD currency pair, and today brought more of the same. One combination of short trade entry and exit during the New York session yielded 80 pips in profit. Curt Wehrley FX Bootcamp’s Quantitative Analyst
- Tags:
- Daily market commentary
July 30 2009, 1:42am | Comments »
-
Live Webcast: Fundamental FOREX Trading Strategies
Send this e-mail to a friend
Wayne McDonell
Register for this live webinar: CLICK HERE
Fundamental FOREX Trading Strategies
Live from Las Vegas Tuesday, August 4, 2009 1:15 pm-2:15 pm PDT
Fundamental analysis creates long-term trends in forex. Technical analysis only identifies entries and exits, however, it does not create the trends themselves. Central bankers, hedge funds, mutual funds, and other institutional investors make most of their decisions based on fundamentals such as economic data, the health of the economy and the results of news. A successful trader should align their technical forex trading strategies with the over-all market fundamentals. This presentation will teach you how to plan like a central banker, invest like a hedge fund, and scalp like an intra-day trader. More Details > http://www.moneyshow.com/video/details.asp?wkspid=5C92C12CE65D4BF0958E1D9F9FB2EF25&Scode=015249 Want an “on-demand” example of a previous live webcast? Watch this free 1 hour video… RIGHT NOW! <——– Advanced FOREX Trading Tactics
This intense workshop will teach experienced forex traders how to scalp trade, how to trade the news, how to use multiple timeframes, and how to conduct intermarket analysis. If you’ve been trading forex for a while, but need to see how to “put it all together,” this presentation will show you how to tactically execute your trade plans like a professional trader. Duration: (1:01:19) http://www.moneyshow.com/video/details.asp?wkspid=A54D50A7D7F342A18D6F3569C058EA341
- Tags:
- Daily market commentary
July 29 2009, 10:33pm | Comments »