FOREX VIDEO REVIEW: London Session March 25, 2009

The British Pound Sterling opened today's London session looking very tired to the upside, showing things such as continuous lower highs on the GBP/USD, and higher lows on the EUR/GBP. The 'Cable' seemed almost destined to tag it's 4hour 21 day exponential moving average, all we needed was a reasonable trade plan, and entry criteria with a proper risk vs. reward ratio to get us in, that we could live with. In this video I highlight in great detail, how what we spotted on the daily and 4 hour charts at first, led us to identifying a quality price trap on the 15 minute intraday chart at the London up. Then ultimately used one final lower high on a small 1 minute chart to prove our direction, build a plan, and take a Fibonacci pullback after the break of our trap for some nice pips. There was indeed volatility today, and one's total success certainly depended on profit taking practices. However, we did indeed ultimately reach our price trap projection, along with the 4hour 21ema before a solid round of profit taking began. Patience and discipline were the key here, while a price 'chaser' would have gotten creamed today, the pullback trader became well fed.

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• GBP/USD
• EUR/GBP
• price
• trap
• breakout
• Fibonacci
• pullback
• projection
• 4hr
• 21ema
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[DDDianaDDD]

Great video, thanks!

[dfcanasvideos]

Great thxs

[robkim55]

The derivatives market is reportedly $200 trillion dollars.

For every buyer in derivatives there is a seller.

If one party loses another party wins.

Who is holding the other sides of the derivatives