FOREX New York Session Video January 24, 2008

Tuesday featured a surprise intrameeting 75 basis point rate cut by the Federal Reserve. Yesterday saw hawkish commentary delivered by the leader of the European Central Bank. Today's result: Up, up, and up for the EUR/USD. The entry zone for a long trade on the euro during today's New York session was defined by the convergence of a Fibonacci retracement level and the 21 ema. The market's subsequent move to two pivot point profit targets -- first M4, then R2 -- was classic.

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• Forex
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• Currency
• Dollar
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• FX
• 4X
• trader
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[1yakko1]

They aren't psychics you idiot.

If you follow their lessons/teachings, you will understand overall market bias, technical and fundamental analysis. So you don't end up like that guy on youtube who's account got wiped out on Monday.

[keithdi]

So it might seem... but hey, YouTube isn't going out live so it has to be a canned report. I'm no expert but if one listens to the exPLANation it shows a celebration of a well planned and succesful trade. It's plain that Fib studies might be applied very successfully to projecting targets and for risk/reward asessments before placing the trade... even before the move happens!