Items Tag - Forex 24x7

Bloomberg TV: What is a PIP in FOREX Trading?

FX Trading Terms Before entering the Forex Market, you’ll need understand the FX lingo. Watch http://www.bloomberg.com/avp/avp.htm?N=fxterms&clipSRC=bbeifxterms_FLASH.flv

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Daily market commentary

June 26 2009, 6:27pm | Comments »

FOREX VIDEO REVIEW: London Session June 26, 2009

Today’s London session started mostly ranging with very little clarity of direction on the short term. While we had some opportunities to do some range trading, the London open brought very clear and quick strength to the British Pound Sterling. In this video I show in detail how we were able to determine potential strength in the GBP/USD shortly before it occurred. Also, how we built and followed through on a long GBP/USD trade plan on a Fibonacci pullback after the break, over an hour after it’s break. Patience and discipline were needed to await this setup, which ultimately awarded a little over 40 pips before failing. Not every trade runs away, take what we can get when we can get it. FXBootcamp London Currency Coach- Christian Stephens

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Daily market commentary

June 26 2009, 4:14pm | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 24, 2009

Today’s rally on the EUR/CHF currency pair brings to mind the Yogi Berra quote, “It’s like déjà vu all over again.” For the third time in about 6 weeks, the euro swissie soared as the swiss franc was sold on alleged SNB indirect currency intervention via the Bank for International Settlements. A profit of up to 230 pips awaited those traders who bought the pair at an easily-defined level of support, then kept their cool as the candles grew greener. Curt Wehrley FX Bootcamp’s Quantitative Analyst

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Daily market commentary

June 25 2009, 3:46am | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 23, 2009

Bulls and bears alike found opportunity to extract at least 100 pips in profit from price action on the GBP/JPY currency pair during the two hours prior to today’s London close. Curt Wehrley FX Bootcamp’s Quantitative Analyst

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Daily market commentary

June 24 2009, 5:11am | Comments »

Bloomberg TV: Managing Risk in FOREX Trading

Managing Risk in FX Learn about the tools you’ll need to manage risk in this global market that never sleeps. Watch http://www.bloomberg.com/avp/avp.htm?N=fxrisk&clipSRC=bbeirisk_FLASH.flv

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Daily market commentary

June 24 2009, 12:26am | Comments »

FOREX VIDEO REVIEW: London Session June 23, 2009

While we had a fair amount of trade plans during today’s pre-London and London session, in this video I focus entirely on one particular GBP/JPY short trade plan that ended up a nice 130′ish pip trade for about 22 pips of risk. In this video we take a look at how something seemingly as small as MACD divergence on a 2 minute chart around longer term resistance, while not an entry trigger, is certainly enough to start building a trade plan to go the other way. GBP/JPY had been rising off the 4 hour head & shoulders neckline throughout pre-London, and here we are showing divergence on the short term. All we then needed was a lower high and lower low to perform a Fibonacci study on. This offered us our pullback trade setup, along with stop placement, a little red later and we find ourselves in a 130-140 pip winner until the USD/JPY double bottomed off 95.00 today. Just one of a bucket of trades today, not too shabby. FXBootcamp London Currency Coach- Christian Stephens

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Daily market commentary

June 23 2009, 3:26pm | Comments »

FOREX VIDEO REVIEW: London Session June 22, 2009

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

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Daily market commentary

June 22 2009, 3:03pm | Comments »

FOREX VIDEO REVIEW: London Session June 18, 2009

FXBootcamp hopes you are enjoying this 40 hour bootcamp coaching marathon leading up to the triple witching hour on Friday, we hope to see many of you during several of these sessions. We have had signs of likely further weakness in the British pound technically this week on the Daily/4hour currency charts, such as multiple Daily lower highs among other things. So going into today’s London session rising from pre-London, while profitable, kept one very attuned to the market for a reversal, or another lower high etc. Well sure enough we got just that in today’s London session as the British Pound Sterling began to dive against every other currency there is. As we had begun to reach/breach some shorter term (15m) support on GBP/USD and the other pairings, we braced ourselves for the impending Retail Sales news announcement due at that very moment. If this news were negative we would very likely be looking at a sharp decline. So in this video I focus on how we handled this news setup using Fibonacci studies after the first one minute news candle, along with price action, to wiggle ourselves into what turned out to be a nice Pound short basket across the board. Unfortunately the pullbacks we encountered were not as perfectly offered to us as we may have preferred, but with a sharp eye on price action around these levels, we were able to sneak into some of these pairs for some wonderfully quick gains. Nice session indeed, needed to be disciplined however in all facets to profit successfully. See you guys at the 3pm afternoon NY session today. FXBootcamp London Currency Coach- Christian Stephens

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Daily market commentary

June 18 2009, 3:11pm | Comments »

40 Hour FOREX Trading Marathon: STARTS TODAY!

Join FX Bootcamp: Marathon is included with any membership to FX Bootcamp, including trial members. $99 gets you started with our 7 day trial, including our 40 hour trading marathon and 7 hour video workshop. Click Here To Join Us http://www.fxbootcamp.com Does marathon mean continous, non-stop forex trading for all 40 hours? Yes, in deed it does. The entire coaching staff at FX Bootcamp will rotate every 3 hours. Asian, European and US trading sessions will be covered. Don’t forget that you will also get access to our video training workshop that is atleast 7 hours long. So even if you are just going to take the one week trial for $99, you get it all. Just us now!

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Daily market commentary

June 17 2009, 11:26pm | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 16, 2009

Multiple moving averages on the longer-term charts had put a lid on today’s EUR/USD rally for six hours. Another failed attempt to break those moving averages, in combination with a trendline re-test and the approach of the London close, set the stage for a short trade on the euro. As most golfers can attest, ending the trading day with a profit of up to 60 pips [depending on entry and exit] was like holing a lengthy birdie putt on the 18th green. Curt Wehrley FX Bootcamp’s Quantitative Analyst

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Daily market commentary

June 17 2009, 3:48am | Comments »

40 Hours Of FOREX: Triple Witching Friday

Join FX Bootcamp: Marathon is included with any membership to FX Bootcamp, including trial members. $99 gets you started with our 7 day trial, including our 40 hour trading marathon and 7 hour video workshop. Click Here To Join Us http://www.fxbootcamp.com What Does Triple Witching Mean? An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year on the third Friday of March, June, September and December. http://www.investopedia.com/terms/t/triplewitchinghour.asp This phenomenon is sometimes referred to as “freaky Friday”.

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Daily market commentary

June 17 2009, 12:33am | Comments »

FX Bootcamp Book Review Contest

Help Other FOREX Traders & Win 3 Months of FX Bootcamp! Click Here To Leave Your Review: http://www.amazon.com/Bootcamp-Guide-Strategic-Tactical-Trading/product-reviews/0470187700/ref=dp_top_cm_cr_acr_txt?ie=UTF8&showViewpoints=1 Please leave a helpful review for FX Bootcamp’s Guide to Strategic & Tactical FOREX Trading. A good book review should not only indicate that you enjoyed reading the book, but it should also state specifically how the book helped you improve your forex trading. “This is the greatest forex book in the world” does show your passion, but doesn’t really help a potential reader that much. “This book helped me enter trades with the trend, target exits in advance using pivot points and treat my trading as a business” is much more specific and helpful. Remember, the point of the book review is to help other forex traders. FOREX Book Review Contest Details The author of the most helpful book review will recieve a free 3 month membership to FX Bootcamp (a $899.85 valute). Contest Rules: 1. A totoal of 100 or more reviews must be recieved by July 15th, 2009. (currently 31). 2. The book review should not “sales pitchy”. 3. The book review should clearly indicate how it helped your forex trading. 4. The book review should be detailed and specific, but no more than 250 words. 5. The book review must be accepted by and posted on Amazon.com (USA Site) If you post your review on Amazon.com in another country, please email me the link and, if nessasary, a translation. 6. I will select one that I like best. Amazon’s “Most Helpful” voting feature will be taken into consideration, so you can participate in the selection of the winner too. Click Here To Leave Your Review: http://www.amazon.com/Bootcamp-Guide-Strategic-Tactical-Trading/product-reviews/0470187700/ref=dp_top_cm_cr_acr_txt?ie=UTF8&showViewpoints=1 Thank you, Wayne McDonell - Author FX Bootcamp, LLC

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Daily market commentary

June 16 2009, 12:39pm | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 11, 2009

Inter-market correlation pointed to a rally on the EUR/USD currency pair during the first 30 minutes of today’s US equity market session. The rally broke a downtrend line, and a conservative long trade entry came in the form of a re-test of that former source of resistance. A 60-pip profit was the reward for those who closed the trade after the euro stalled near a psychological level as the London close approached. Those who held the trade through today’s 30-year Treasury bond auction, then cashed out at the daily M4 pivot point, earned a greater prize of 120 pips. Curt Wehrley FX Bootcamp’s Quantitative Analyst

June 12 2009, 2:24am | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 9, 2009

Today’s New York trading session was devoid of major US news events, and lower than normal volatility in the currency markets was the rule. However, there were opportunities to profit. For example, a classic range trade on the EUR/JPY produced a 60-pip profit before today’s London close. Curt Wehrley FX Bootcamp’s Quantitative Analyst

June 10 2009, 2:14am | Comments »

FOREX VIDEO REVIEW: London Session June 3, 2009

As we opened the London session today, we found ourselves a country mile from today’s Daily 5 ema, looking temporarily exhausted on the Eur/Usd, and Gbp/Usd, along with a few other pairs. In this video I will focus primarily on the Eur/Usd, and how we planned a conservative Fibonacci pullback trade entry risking 25 or so pips, while targeting the 4hour 21 for a 75-100 pip reward. Pay close attention to the fact that this entire trade plan begins with activity on the Daily and 4 hour charts, then we use the hourly Bollinger Bands, along with 15 minute lower low’s to give us our precise trade plan. Only then do we then use a short term, 1 minute chart in this case, to actually execute our trade entry based on short term price action at our planned entry zone. I say this because it is far too easy for someone to end up trying to build trade plans from short term charts. It’s far more reliable to plan on the big picture and only use the short term to pinpoint entry/exit triggers from those longer term plans. This same setup was apparent on many pairs today, and it turned out to be a very very nice day over all pairs. Yet even if you had only traded the Eur/Usd it was a good day indeed, let’s see what NY does from the 21ema. FXBootcamp London Currency Coach- Christian Stephens

June 3 2009, 4:20pm | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 2, 2009

The beleaguered US dollar could find little relief during today’s London and New York sessions. London traders who took the EUR/USD bounce from daily 5 ema, then closed the trade at the M4 pivot point, had already earned a 170 pip profit as the New York session got going. Although the euro’s next move was more modest, New York session traders reaped a respectable harvest of about 90 pips. Curt Wehrley FX Bootcamp’s Quantitative Analyst

June 3 2009, 2:44am | Comments »

FOREX VIDEO | NEW YORK SESSION REVIEW | June 1, 2009

When considering the GBP/JPY price action through the first five months of this year, the story of the mythical phoenix comes to mind. A currency pair virtually burned to virtual ashes in last year’s deleveraging, has seemingly come back to life. Today, on the back of positive China and US PMI reports, the pound yen soared more than 550 pips. Using moving averages, a Fibonacci study, the concept of role reversal, and pivot points, a conservative trade plan spanning the London and New York sessions yielded a 200-pip profit. Curt Wehrley FX Bootcamp’s Quantitative Analyst

June 2 2009, 2:37am | Comments »

Forex 24x7