We began today’s London session already enjoying a decent GBP/USD short trade from pre-London. However, we find ourselves at a Weekly central pivot point, and 4 hour 21 ema exactly at London open. Even if there would be further downside in the British Pound’s future, opening a major market at support is always something to be very aware of, and probabilities are that we will head up from that point, at least back to some sort of Fibonacci pullback zone. In this video I show first how we determined the right time to cash out of the original short from pre-London, along with the clues for a long entry if you so desired. Once this trade plan had reached it’s destination in form of the 50% Fibonacci pullback of the days move, our re-short trade plan off the role reversal area proved rewarding. Ultimately however, a 15 minute Higher Low sent a very clear signal that the GBP/USD was more interested in making higher highs shortly thereafter. This was a very tricky session that required great discipline in ones trading, but using sound techniques, along with that discipline did indeed lead to a profitable day. FXBootcamp London Currency Coach- Christian Stephens
FOREX VIDEO REVIEW: London Session June 22, 2009
Source: blogs.fxstreet.com
- Tags:
- Daily market commentary
Read more...
The systems of forex day trading
Ecommerce Journal Traders use several systems to buy and sell currency throughout the day with the expectation that the forex or stock will rise or fall in no seconds so as ... See all stories on this...
FOREX VIDEO - European Outlook November 17th 2009
Hey everyone, for this video I take a longer term look at Aussie USD, Aussie Yen and Pound Yen. The Yen crosses in general look very interesting, they are extremely congested and I don’t expect that to continue very much longer. The Pound Yen especially is in a very clear apex of a daily trap. I...
Strong Sell Signal - EUR/USD - June 12th 2009
There is a very strong bearish sell signal on the Eur/Usd as shown in the following chart: EURUSD Signal Source: Tradign...
Daily technical analysis 03-11-2010
USD/CHF Daily graph: http://www.real-forex.com/charts-daily/November2010/CHF_DAILY_031110.JPG For the last three weeks, an important...
Online Forex Trading » Blog Archive » Forex trading - FX Universal ...
FX Universal, a New York based company specializing online forex trading services, now offers spot gold and silver trading on the same cutting edge platform: GTS (Global Trading System). Their global client base now has access to spot ... Online Forex Trading -...