FOREX VIDEO REVIEW: London Session January 20, 2009

The British Pound Sterling continued it's slide throughout the pre-London, and into the London session itself. Although the short on the GBP/USD which many of us caught was the more desirable trend type trade, there was also a counter trend opportunity with a 55-100 pip possibility that presented itself while the GBP/USD pulled back throughout most of early London. While I normally do not like to illustrate an intraday counter trend trade, this one had a very little risk vs high reward setup, along with decent confirmation using shorter term charts. While the trade did not ultimately reach our final target, which would have been an ideal spot not only to take profit, but to re-short the GBP/USD, we still were able to bag 75-80 pips before seeing confirmation the move was over on the charts. Take what the markets give you!

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• GBP/USD
• EUR/GBP
• weakness
• countertrend
• trap
• fibonacci
• macd
• stochastics
• 5ema
• higher
• low
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[malenamala80]

Great video.Ty

[DDDianaDDD]

Great video, thanks!

[keris80]

Thanks for sharing knowledge Chris..