FOREX VIDEO - London Session Review - December 11, 2009

The EUR/JPY long from yesterdays double bottom continued to perform throughout late Asia into Pre-London. This actually ended up creating a legitimate higher low on the Daily chart. In this video I break down in it's entirety why I had good reason to believe the EUR/JPY would continue to rise throughout the London session today. Using things like MACD divergence on the EUR/USD and EUR/JPY, price trap breaks, the USD index, correlated JPY weakness, and of course our good friend Fibonacci to come to these conclusions. All of this led to a nice long opportunity just prior to me taking the mic for the London session today, yet in the video I also break down the additional 2nd chance long entry after this, which we covered live in the London session as it occurred. This trade ultimately just continued to make short term higher highs and higher lows all throughout the London session, riding the 5 ema all night long on the 15m chart. This netted us a nice 70 or so pip trade from the 2nd chance entry by the time London trades went off to lunch. Not too shabby. Have a great weekend!

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• EUR/JPY
• EUR/USD
• Japanese
• Yen
• correlation
• USD
• Index
• MACD
• divergence
• Fibonacci
• price
• trap
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[hussamrefaat]

am a rookie and i like your trading technique guys and bunch of thanks , but i was wondering if too many people are using the same techniques and tactics wont these tactics FAIL ??

[fxbootcamp]

People fail mostly due to poor trader psychology at some point

[DDDianaDDD]

Great video, thanks!

[fpricardo]

Thank you, Chris

[BestGlide]

Chris: Thanks for the analysis / review. I watch these videos almost every day but rarely post comments (I should post more often - my excuse is I'm usually too busy working and trading to take time to compose and type out a comment). Although I've learned to trade from many sources, the fxbootcamp team of coaches have provided, by far, the strongest, most useful training. A significant amount of the money I've earned from trading is a result of what I've learned from the fxbc vids = Thanks.

[bluestar007]

Very good analysis, thank you

[xgoa]

very nice setup :)

[tainguyen01]

Hi,

How do you change to the local time at the bottom of the chart in Meta?

Thank you,

Tai

[brigggo]

Thanks for the explanations, Chris!

[vam1996]

Thank a lot Chris ... you make it simple and logical