FOREX London Session Video December 14, 2007

After some some nice downward movements yesterday following the better than expected USD PPI release, the EUR/USD consolidated into a bit of a flag continuation pattern. Once the London money entered into the market the 15m bollinger bands opened up and the EUR/USD started heading up from the bottom of the flag channel. However, it was clearly headed right for a brick wall full of an overlapping resistance. Things like a 50% Fibonacci retracement level of the previous days move, Pshycological level at 4650, top of the Flag channel, daily central pivot point, weekly central pivot point, as well as a few other EMA's and things. This provided for a fantastic low risk high reward trade plan setup around the 4650-55 area playing the bounce, the downside targets were well enough pips away to make it clearly worthwhile. All we had to do was wait a couple 15m candles for price to get there. As you can see in the video, price bounced to the pip off 4655 and blew away all expectations of targets dropping all night long for around a 250 pip gain for most of the FXBootcamp members. The GBP/USD, AUD/USD, and several other pairs did very similar things to provide an overwhelming amount of USD strength pips for anyone with their hand out. Just gotta love nights like this.

Category:

Education

Tags:

• EUR/USD
• GBP/USD
• AUD/USD
• Fibonacci
• retracement
• extension
• pivot
• flag
• pattern
• M1
• S2
• London
• FX
• Bootcamp
• Forex

[DDDianaDDD]

Great video, thanks!

[pelazon2007]

great Xplanation!!! I have a doubt.. If my 15 min light is = as my Foundation signal.. Which ONE is my Entry signal 3min or 5 min..

And ONLY going for 20pips > P..

???