FOREX VIDEO REVIEW: London Session April 17, 2009

As London opened today, we already had a solid drop on the GBP/USD taking place ever since the NY session yesterday. We had a fantastic series of lower high's and lower low's ever since Asia. In this video I break down in great detail how we identified what very much looks like a head & shoulders reversal pattern on the 1, 2, and 4 hour charts on the GBP/USD pairing. As London money came into play we had just finally broken the neckline, and in this video I walk you through how we planned a reload short entry on the GBP/USD around a retest of the neckline itself, which also happened to be the 38.2 Fibonacci retracement of the last major swing, along with the 15m 21ema. Since this H&S pattern is based on longer term time frames, it could very well take a day or two to see if it will reach it's technical projection around 1.4611 or not. Yet with proper trade planning, regardless how you handled the trade management it was very possible to walk around with a nice chunk of pips, and maybe much more in NY, we shall see.

Have a fantastic weekend!

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• GBP/USD
• EUR/GBP
• head
• shoulders
• Fibonacci
• 21ema
• neckline
• retest
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[DDDianaDDD]

Great video, thanks!