Forex Trader | Rates | Charts | News | Pips |

Pre-London today finally began the bullish British Pound/USD move off support that the 4hour MACD divergence had predicted over the last couple of days, breaking a very definable price trap. Following this break however, we did not enjoy a pullback to the breakout point like we usually do. This unfortunately left some of the more conservative entrants out of the game. In this video I break down the trade in it’s entirety, including the initial setup/plan for the trade, along with the failed …

Today we open London in a rather choppy scenario short term, but once the GDP was released for Britain, the pound pairs proceeded to lose value quickly. After the initial strong news move we bounced solidly off recent lows and plotted a short trade plan off an overlapping resistance/Fibonacci zone that we simply had to wait for to occur. So in this video I focus on how we built our short trade plan on the GBP/USD, and used the EUR/GBP price movement to give us confidence in the entry itself …

Today’s London session was kind of tacky other than the quite obvious British Pound weakness throughout the night. While the GBP/USD short paid nice dividends from the pre-London entry, in this video I focus more on a completely different trade on the EUR/JPY. However, we did use the GBP weakness in the form of EUR/GBP breaking resistance to give us our confirmation on the EUR/JPY long. This trade plan shows how price action will often respect previous area’s of resistance as support, in the …

As we opened the London session today, we found ourselves a country mile from today’s Daily 5 ema, looking temporarily exhausted on the Eur/Usd, and Gbp/Usd, along with a few other pairs. In this video I will focus primarily on the Eur/Usd, and how we planned a conservative Fibonacci pullback trade entry risking 25 or so pips, while targeting the 4hour 21 for a 75-100 pip reward. Pay close attention to the fact that this entire trade plan begins with activity on the Daily and 4 hour charts …

Today’s London session began in a quite volatile manner on many pairs, after a relatively flat Pre-London session. While there were a few setups, in this video I focus entirely on a quite obvious 15minute symmetrical triangle price trap on the EUR/USD. As the London money was flowing in we created a tighter and tighter apex, at one point just 15 pips or so wide. In the video I demonstrate how we planned our target at today’s M4 pivot point using trap projections, waited for the break of the …

The British Pound Sterling kicked off the pre-London session with some high quality weakness across the board. This continued to off some nice pullback entries early on into the London session. However, we were approaching support in many flavors around the 1.4900 area. Things like long term 50% Fibonacci retracement levels, Daily, 2hour, and 4 hour overlapping support, daily central pivot point, about 7 things all falling exactly at the same place on many time frames. Even with all the …

Today’s London session opens up with the British Pound/USD pairing making yet another higher low on the longer term charts, and hinting a return to the top of it’s very clear Daily up channel, 150 or so pips away. At the same time the EUR/GBP pairing showing clear MACD divergence, and a break of it’s own shorter term (2hr time frame) trend line, indicating Pound strength for near term anyway, at least until the low 89 cent range. With this all in mind we awaited the break of today’s central …

After yesterday’s break on the GBP/USD of the Daily chart channel top, and subsequent hit of the Daily 200 ema, we were poised for possible short trade setups after a 15m lower high developed. We were anticipating a retest of the Daily 5ema zone, channel top retest, as well as the 4hr 21ema, and 38.2 Fibonacci pullback, before any possible larger rise. As technical as we were set up to be, we were slapped with some surprise Fundamental news, when S&P downgraded GBP, citing debt was nearing …

We opened the London session today with a recurring theme of a very weak British Pound. By the time we had opened London we were already 200 pips into a nice GBP/USD short from pre-London. In this video we show how, over a span of just over an hour, were able to put together a trade plan for a new short on a Fibonacci 50% retracement zone that overlapped with multiple layers of other resistance. The plan was easy, the waiting for price to get there was where patience was required. Ultimately …

After some quick pre-London pips we found ourselves in a precarious position on the GBP/USD as the London session opened 3am EST. While cable was rising, and paying off on some longs after bouncing on the previous day’s 61.8 Fibonacci level, it was fast approaching the 1.51 area where we also had an overlapping 38.2 Fib level from the recent highs on the 4 hour chart. This was setting us up for a possible double top scenario, with at least 40′ish pips before any support could be found. In …