FOREX VIDEO - London Session Review - September 30, 2009

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

Category:

Education

Tags:

• EUR/USD
• trendline
• break
• retest
• Fibonacci
• 21ema
• 4hr
• 1hr
• EUR/GBP
• Forex
• FXBootcamp
• London
• Christian
• Stephens

[shayem143]

Great video. keep it up....Simple but strong TA

[DDDianaDDD]

Great video, thanks!

[kjguest30]

thanks chris

[krunoeleven]

Simple but strong TA. Great video, thanks Chris.

[pedantologist]

What software are you using? FX Trader 4?

[cliffemery]

Super example for the future settups...always great trading FXB way.

Cliff

[pwlco1]

Thanks Chris. I missed the entire London session today but was glad to see what occured in great detail.

Patrick L

[asturius]

Thank you Chris. Appreciate the reviews

[FX582155200]

Poker is a FX traders friend, since I know that you play poker and draw many similarities between the two, I started to play as well. One thing I can say, Poker will teach you fast how not to fold.

Poker helped me to see the benefit of playing only the strong hand.

[FX582155200]

Thank you Chris, it was very helpful. I was in Eur as well, but got stopped out twice at the bottom, did not put my stop at 85. It is so frustrating to being taped out by 2 pips twice in a row. I have to work on my stop placement and execute only planed trades, thanks.