FOREX VIDEO - London Session Review - August 25, 2009

As the pre-London session ended today, and we ere taking profit on our GBP/USD and GBP/JPY shorts at support, our attention quickly turned to the London Open. Here we are yet again, at support on these two pairs Right as the London market opens. I prefer to not counter trend, but when you find yourself at support across the board at a major market open, it’s hard not to look for clues of buying off this support, I mean who wants to short at support right? In this video I zoom into the GBP/USD and cover as clear as I can the how’s and why’s of this counter trend Long trade plan. It became a simple matter of awaiting a higher high, then locking in break even, done deal, no risk trade then. After that we moved on about our business on other trade idea’s while the pair slowly inched it’s way to our target over the next few hours. Eventually we nailed our target for a 60′ish pip counter trend trade, and even found reasons to short at the beginning of London lunch. No real major news releases tonight led to a very predictable onslaught of ‘Technical’ trading, the money truly was made in the waiting tonight, on this trade shown as well as several others. FXBootcamp London Currency Coach- Christian Stephens

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