FOREX VIDEO - London Session Review - September 30, 2009

Source: blogs.fxstreet.com

The EUR/USD had been showing Lower High’s for quite a while now on the 4 hour charts, forming a very distinct falling trend line. Just before London got started today we break this trend line. Typically, once something like this occurs, it’s very commonplace that a retest of this area is a high probability entry point back in the direction of the break, even if just for the short term. So let’s see, here we are at London market opening, after breaking this trend line and now sitting on the retested zone. Long off of this zone was certainly the plan, it was just a matter of the actual trigger and stop placement after that. In this video I show you how we built this trade plan to begin with, waited for our setup to be met, and took action. This trade ended up extending well for roughly a 1-3 risk vs. reward ratio for about a 70 pip winning trade. Nice way to end the month/quarter! FXBootcamp London Currency Coach- Christian Stephens


Read more...

  • Japan: The Backdoor to Emerging Markets

    Japan: The Backdoor to Emerging Markets by Steve McDonald, Investment U Contributing Editor Friday, November 4, 2011 Who would turn down a chance...

  • USDCHF pulled back from 0.9975

    Being contained by 0.9971 resistance, USDCHF pulled back from 0.9975. Support is at 0.9820, as long as this level holds, uptrend from 0.9548...

  • FOREX VIDEO | NEW YORK SESSION REVIEW | July 7, 2009

    Although the US dollar lost ground against most major currencies during today’s European session, the reserve currency recouped those losses during the New York session as risk aversion enveloped the financial markets. The descent of the EUR/USD currency pair from the M4 pivot point to the...

  • USDCHF breaks above upper border of price channel

    USDCHF breaks above the upper border of the price channel. Further rally to test 1.0675 key resistance could be seen later today, a break above...

  • China May Consumer Prices -1.4%, Producer Prices -7.2%

    China’s consumer prices fell 1.4% yoy in May, the fourth consecutive month of deflation. Expectations were for a fall of 1.3%. China’s producer prices fell 7.2% in the year to May, much greater than the forecast of 6.8%. However most economists are relaxed about the fall, seeing it as a...