FOREX Training Video | London Session December 18, 2008

The pre-London session today produced some quality trade setups, as well as a noticeably weak British Pound Sterling and strong Swiss Franc. Yet just over an hour after London open, prior to the British retail sales news release, we found ourselves at a plethora of overlapping support. Even though we had no real reason to buy the GBP/USD at this point fundamentally, technically it looked like as long as we did not have major negative retail sales, we should see a nice little pop to the upside, at least on the short term. Little pop in this instance being 120-200 pips. Once the retail sales came out better then expected, it so strongly rose that it became difficult to take a pullback entry due to no real pullback. GBP/JPY launched, and so did all the other JPY pairs. So in this video I stay focused on how we handled the GBP/USD, the hardest entry of all the entries at this time frame today, and how patience still netted us at least one 50 pip trade before some strong clues warned us at first resistance to take profit. It did ultimately did cover around 150 pips to the upside, it was just very difficult to enter the long conservatively without chasing price. All trades are not created equal, yet we still had an amazing night. Great way to kick off the 40 hours of straight forex trading/coaching marathon FXBootcamp members are enjoying this week.

FXBootcamp London Currency Coach-
Christian Stephens

GBP/USD retail sales support news trade Fibonacci pullback bollinger band London Forex FXBootcamp Christian Stephens

Category:

Education

Tags:

• GBP/USD
• retail
• sales
• support
• news
• trade
• Fibonacci
• pullback
• bollinger
• band
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[DDDianaDDD]

Great video. Thanks!

[keris80]

Excellent ... Thanks for sharing knowledge