FOREX VIDEO - London Session Review - September 17, 2009

Source: blogs.fxstreet.com

As we opened London today we had many clues on the EUR/GBP 1 hour, 4 hour, and daily charts that we were due for, at least on the short term, a modest pullback to the downside from it’s recent strength indicating potential short term British Pound strength. Couple this with the USD starting to dive down another notch, as witnessed on the USD Index last night, we had ourselves the perfect marriage for a Forex trade, a strong currency (GBP) vs. weak currency (USD. With this information in hand we began to build trade plans longing the GBP/USD off of support, at least until we hit the weekly central pivot point. In this video I break down how we went about planning and ultimately executing this trade off of a Fibonacci pullback support area just as the London market opened for a 45 pip or so end result. Not the biggest trade in the world, but the London session was speckled with 30-50 pip trades tonight, ad let’s face it, those add up well! FXBootcamp London Currency Coach- Christian Stephens


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