FOREX Training Video | London Session December 16, 2008

After a solid break of resistance, and fantastic follow through on the EUR/USD during the NY open and into the rest of the NY session yesterday, we were left at resistance during the London open. Even though we have clearly been riding upwards solidly on the short term, this is a major pullback level on longer term charts. However, because it is such longer term charts, you almost know without thinking how choppy any 'counter trend' trade back downward would initially be. This set us up for a very difficult, 'scalp' type counter trend mentality for London. The Eur/USD offered several 30-45 pip type trades before each nearly fully retracing it's steps. In this video I highlight one of these trade setups that we planned in advance live in the classroom which ultimately took us to what is currently today's low. This 'Drift' is likely continue for most of the day, unless the later FOMC can offer some volatility. Hey take what the market gives you, you cannot always wake up to a perfect trend entry, sometimes it's work.

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• EUR/USD
• pullback
• Fibonacci
• resistance
• 5ema
• Daily
• weekly
• counter
• trend
• scalp
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[DDDianaDDD]

Great video. Thanks!

[keris80]

Excellent ... Thanks for sharing knowledge