FOREX Training Video | London Session August 15, 2008

It's been a fantastic long term trending week for the USD. On the GBP/USD we were only 150 pips or so away from long term visual support we had identified months ago at 1.8512. As London began we found ourselves in a simple price trap with lower high's and no lower lows. All that was needed was a little patience awaiting the break and a plan of attack. Whether you took the actual break, or the Fibonacci retracement after the break, you were rewarded with a rather painless 130 pips or so. If you were on top of things there was one sweet reload opportunity around 1.8590 as well. In this video we also discuss how after taking profit at 1.8512, using other methods of confirmation we were able to long the same GBP/USD at 1.8530 area. This ultimately amounted to another 130 pips into the NY session. Fantastic finish to a very technical week, enjoy the weekend folks.

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• GBP/USD
• Fibonacci
• breakout
• price
• trap
• reversal
• reload
• London
• Forex
• FXBootcamp
• Christian
• Stephens
• trend
• support