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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