Forex 24x7

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