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We were kind of direction less for the most part on the majors as we neared the London open today. However, just prior to London opening we had the beginning of a British Pound selloff against all comers. The initial break of the price trap did not offer the high quality pullback we were looking for, so it was fairly easy to miss this nice move, unless you were very aggressive and sold simply at the hesitation. So then we watched as the GBP pairings hit support on longer term charts, such as …

Stellar day for the British Pound Sterling. We started off pre-London a bit slow, but gave no reason to doubt continuation of our GBP strength started yesterday during the London session, as the EUR/GBP was tipping it’s hand early letting us know it’s intentions for the Pound tonight.. While there were numerous GBP long related entries speckled through out the European/London sessions, in this video I focus on one of the latter entries, a News scalp. In this video I show why we felt bullish …

During Pre-London we some some strength in the British Pound, the Euro, and some weakness in the Japanese Yen. While there were some very nice trade plans that followed through nicely throughout the London session in with all of these currencies in this video we focus on the GBP/JPY long, that was indeed a rather difficult entry to feel fantastic about at first. We primarily use Fibonacci, and recognition of higher low’s in this setup to identify the opportunity, and visual resistance, daily …

Today’s London session started mostly ranging with very little clarity of direction on the short term. While we had some opportunities to do some range trading, the London open brought very clear and quick strength to the British Pound Sterling. In this video I show in detail how we were able to determine potential strength in the GBP/USD shortly before it occurred. Also, how we built and followed through on a long GBP/USD trade plan on a Fibonacci pullback after the break, over an hour …

Today’s London session started off with a bang! We found ourselves in a very definable triangle price trap pre-London which was breaking just as the London boys sat down to play along with the rest of us. The top of the day had started with a bounce off the daily central pivot point/hourly 21ema, and now it was quite obvious money was starting to change hands at the open. Once the lower low/break had occurred we verified the British Pound’s intentions using the EUR/GBP pair which was …

EUR/USD I see the short term trend as down, therefore class this as a Trend Continuation trade based on: – Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe – shown in yellow on chart image). – Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum. – Price has now placed in a lower high on the 4H something which it has not done in some time. – 8EMA failed to …

GBP/USD short trade based on the 4 hour closing candle: – 4H close below previous support at the 1.6290 zone. – 4H shooting star formation (almost a mini evening star) showing lack of momentum. – 1D has placed a lower high and double top, together with the 8EMA flatting off. – 1H showing a lower high and lower low, which indicates lack of buying momentum & rhythm.

Bullish engulfing candle of the 55 EMA daily. Reasons for Trade: – Price found support off the 55 EMA daily – Engulfed previous resistance area. – Price action found support off the 200 SMA on 4H – Used 5M chart to gain entry.

String upward momentum shown on the daily & 4H chrats. Used 1H to gain a better entry.

Hello fellow traders! Today we are reviewing some of the most basic, yet most powerful chart patterns in technical analysis of the forex market. Be sure to watch for a link around the 5 minute mark to a currency trading magazine download, as well as more information on our no-charge forex overview 3 day course. Here at www.FastPips.com we sincerely want you to succeed! We aim to help new and seasoned forex traders find the best brokers available and share some of our most proven strategies …