FOREX VIDEO - London Session Review - April 6, 2010

Asia's activity today left us with a little cloudy picture on several pairs coming into London. We definitely had clear direction on many pairs but found ourselves near interim support/resistance on the same pairs as London was opening, so what we needed were some pullbacks. One such pairing was the GBP/USD today, which found itself pulling back to a near perfect Fibonacci zone which overlapped multiple types of dynamic ema resistance exactly as London opened. While this entry was ideal, should one have missed this entry (which sadly I did due to my alarm being 2 pips further), how could we try and still enter this trade conservatively and not feel like we were price chasing. Well in this video I show you how I walked the FXBootcamp room through that very process. Ultimately it offered us two opportunities to join this move, one ended up break even while the other ended up a 50-60 pip traded depending how you decided to take profit, near or at the Weekly Central Pivot point.

Regardless of your bias on a pairing you still must be able to build a trade plan with acceptable risk parameters or you simply should not take the trade. This video shows how we finally were able to make the risk/reward make sense to join this in the middle of it's move.

FXBootcamp London Currency Coach-
Christian Stephens

Category:

Education

Tags:

• GBP/USD
• Fibonacci
• ema
• overlap
• risk
• continuation
• M1
• S2
• Weekly
• CPP
• pivot
• 4hr
• lower
• high
• London
• Forex
• FXBootcamp
• Christian
• Stephens

[savitrading]

Good video, quality information. savitradingcom

[therandon]

thanks for the vid

[Glendinning1955]

Another interesting and good analyse.

[chinoski78]

Thanks Chris

[rliekens]

Good analyse

[rliekens]

Good analyse

[FastTrackSPD]

Good stuff