FOREX VIDEO - London Session Review - September 9, 2009

After yesterday's fun selloff of the USD during London, we began pre-London today well extended on our Daily charts. The GBP/USD, EUR/USD, AUD/USD, all a country mile from their Daily 5 ema's respectively. While this alone is not a reason to enter a trade back to those levels, it certainly makes it difficult to continue our USD selling until either support catches up to price, or more likely, a pullback to near those levels ensues. So in this video I show how I built a trade plan to Short the GBP/USD and EUR/USD back to support, and reload this trade on subsequent shorter term pullbacks, along with profit take zones. I would not classify these trades reversals, but merely a shorter term scalp back to support, where most of us were eager to relong them (or short the USD again). With reloads added in on multiple pairings, it was actually a very solid overall pip day if you caught these.

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• GBP/USD
• EUR/USD
• AUD/USD
• USD
• retrace
• Fibonacci
• pullback
• Daily
• 5ema
• support
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[DDDianaDDD]

Great video, thanks!

[rbonilla18]

good explenation after the fact . like that everybody sound like a good trader.

[ugogal]

Thanks Chris!

[kjguest30]

thanks Chris

[rnp1thx]

Very nice work Christian. Plenty of reasons to grab that 67 pipper in the Pound and go after the move down from 1,4590 in the EURO!

[pwlco1]

Thanks Chris,

Really starting to grasp HLs and LHs thanks to your continued coaching support.

Patrick