Hi everyone! The Asian preview for Monday is an update on the pound (may as well while it is producing for us) and a new look at the EUR/JPY and the possibility of some downside action.
Originally posted 2009-11-24 23:14:39. Republished by Old Post Promoter
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Since the weekend I had spoken in length in the London FXBootcamp session about seriously developing 4hour MACD divergence on every Japanese Yen pairing I could pull up. About a third of the way into today’s London session we began to see hints of a change in direction, such as USD/JPY having an hourly lower high, then breaking it’s recent price trap’ support level in the 15m chart. In class we covered the trade plans for shorting the GBP/JPY, EUR/JPY, and USD/JPY, and any trader could have done the same on any or even a basket of JPY pairs. In this video however, I will cover just the GBP/JPY. I will discuss and show in detail what caused us to both look for the short ‘clue train’ in the first place, and ultimately the actual entry/trigger criteria we used to short the GBP/JPY , risking just 20 or so pips, amounting to a fairly painless ride to just over 100 pips, before offering another pullback for an additional 90 pips reload. Very nice trading session indeed for London, certainly well deserved after the choppy sessions we have seen of late in the London time frame. FXBootcamp London Currency Coach- Christian Stephens
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Hope fully another nice week trading. As a first video for the new Asian Session Previews, looked at Aussie continuation and a break of a Pound trap.
Originally posted 2010-01-21 20:39:11. Republished by Old Post Promoter
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The US dollar had attempted, but failed, to make new gains against multiple currencies for a full round-the-clock cycle. During the final hour of European trading, the USD bulls seemed to give up, and the bears stepped in. Currency correlation, identification of basic support and resistance, and a Fibonacci study contributed to creation of a trade plan to go long on the GBP/USD currency pair. Those traders who took the shot, then closed the trade at the next significant level of resistance, earned a 60-pip profit at today’s London close.
Originally posted 2010-04-02 20:39:28. Republished by Old Post Promoter
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www.forex-fxtrader.com Here is your free forex update for the week ahead. To learn more about forex and a copy of my free ebook, visit the blog
Originally posted 2010-03-28 20:38:11. Republished by Old Post Promoter
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Daily analysis of the US Forex market trading session with DailyFX Currency Strategist John Kicklighter. Includes coverage of economic and financial market news, as well as an outlook for the day ahead and trading ideas.
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www.informedtrades.com InformedTrades.com members share their outlook on the current environment in the futures, forex, and equities markets, identifying trade opportunities based on economics and technical analysis. Join us at informedtrades.com for the discussion. If you’re interested in trading these views, below are links to try a demo account with brokers approved by InformedTrades founders FXCM (currencies): bit.ly TOS (stocks): bit.ly Apex (futures): bit.ly
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www.daytradexpress – a short video showing a trade that was very close to be hedged!! Not given myself the best of chances here as I “assumed” a part of the procedure rather than sticking exactly to the rules. That highlights the importance of discipline. If a trade goes wrong but you followed the rules that’s ok as you cannot get 100% wins.
Originally posted 2010-02-17 20:40:16. Republished by Old Post Promoter
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Our London session today and tomorrow actually are pre-London into London, as one of our coaches is on break. With that in mind, our first hour today was completely our planning/plotting hour where we set-up all area’s of support/resistance, price traps, pattern formations etc. Once this was done we developed technical bias and reasoning for several of our setups, then simply wait for one of them to cough up a clue. Well one of these trade plan’s involved the EUR/USD forming a double bottom off support to open tonight, and rising at least to the 1.3318-22 area, and sure enough at 1:15am NY time we see a higher low quickly develop on the charts. In this video I cover in great detail how once we obtained our clue, we quickly finalized our trade plan, confirmed reasonable risk vs. reward, awaited our Fibonacci entry area. and promptly protected our trade with a break even stop. While this was not an enormous trade, obtaining 50-75 pips was entirely reasonable depending on how one managed it, which we also discuss in the video. Hey, Pips are pips! Enjoy. FXBootcamp London Currency Coach- Christian Stephens
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An absence of major US economic news and a holiday-shortened trading week contributed to the second day in a row of lower than normal Forex market volatility during the New York session. Although follow-through was limited, there were some pips to be made by skilled scalpers, even on the EUR/USD the world’s most liquid currency pair. A conservative long trade setup on the euro came together as the end of the London trading day approached. Up to 70 pips in profit depending on entry and exit strategy was the reward for traders who simply bought at visual support and took profit at today’s central pivot point.
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