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The USD has been quite the bull lately and we have not yet seen any reason technically for that to cease. With the situation in Greece very tense, the Euro has shown even further weakness. With this Euro weakness and USD strength we again were looking to the EUR/USD for some further clues of continuation down. In this video I highlight how we built a trade plan starting at today’s London Session around a 40′ish pip hourly price trap, break, and then retest. Once the break occurs it was time for our favorite friend Mr. Fibonacci to step in, and sure enough he coughed up several opportunities to snag a nice EUR/USD short entry to start the day. While it took all night to really follow through, it completed its drop today of 120 pips or so from the Fib in dramatic fashion with China raising it’s reserve requirements unexpectedly, causing a strong push to the 1.3550 area which also happened to be our daily M1 reversal pivot point, Profit take time! Lovely trade. Have a fantastic weekend folks! fxbootcamp London Currency Coach- Christian Stephens

The British Pound Sterling opened today’s London session looking very tired to the upside, showing things such as continuous lower highs on the GBP/USD, and higher lows on the EUR/GBP. The ‘Cable’ seemed almost destined to tag it’s 4hour 21 day exponential moving average, all we needed was a reasonable trade plan, and entry criteria with a proper risk vs. reward ratio to get us in, that we could live with. In this video I highlight in great detail, how what we spotted on the daily and 4 hour charts at first, led us to identifying a quality price trap on the 15 minute intraday chart at the London up. Then ultimately used one final lower high on a small 1 minute chart to prove our direction, build a plan, and take a Fibonacci pullback after the break of our trap for some nice pips. There was indeed volatility today, and one’s total success certainly depended on profit taking practices. However, we did indeed ultimately reach our price trap projection, along with the 4hour 21ema before a solid round of profit taking began. Patience and discipline were the key here, while a price ‘chaser’ would have gotten creamed today, the pullback trader became well fed. fxbootcamp London Currency Coach- Christian Stephens

The Eur/Jpy today finally reached it's 200 day moving average along with an overall 38.2 Fibonacci level overlap in the same area, going back to last year's highs around 170. Hitting this kind of overlapping resistance gave good reason to look for some nice decent quality short entries, taking advantage of some profit taking from the recent rise. While this move did begin prior to the fxbootcamp London session open, it still offered a quality entry off the lower highs that were presenting themselves all night. The short ended up hitting our immediate target of the hourly 21 ema, for 115 pip or so profit off our last entry, more if you got in pre-London. In the video I highlight how were able to identify a high probability low risk scenario all the way to the pip, giving us a ridiculous 7 to 1 or so reward vs. risk, hard to ignore. fxbootcamp London Currency Coach- Christian Stephens

London today opened with the British Pound/USD pairing stuck in a little triangle, price trap. Just as London opened it seemed to breach the upper resistance of this trap , but quickly proved to be a fakeout when we awaited a pullback. In this video I show how, in great detail, how we were able to stay out of the long, and build a solid tradeplan on the break either way of the trap. Sure enough we got a break on the next test of the bottom, awaited a Fibonacci pullback to the now broken …

As we approached today’s London market open, we found ourselves in a nice continuation short on GBP/USD and GBP/JPY from a late pre-London entry. However, exactly as London was opening we found the GBP/JPY sitting exactly on the daily S2 reversal pivot point, along with also sitting on the weekly S2 reversal pivot point. How often does that occur, not often right? Anyway, we also were sitting on a trend line support for the USD/JPY (daily chart), along with GBP/USD at it’s M1 reversal pivot …

Just as we opened the London session today, we immediately found ourselves in a beautiful price trap on the GBP/JPY on a 15m/hourly basis. This trap had a very precise bottom at 157.29, which just so happened to be overlapping our new hourly 21ema, and happening exactly at the London open. Also we were bouncing off a 61.8 Fib zone and 2hr 21ema on the USD/JPY to the upside, and the EUR/GBP was starting to fall off yet another lower high itself, all at the same time. So let’s see, we have …

The EUR/USD had been showing Lower High’s for quite a while now on the 4 hour charts, forming a very distinct falling trend line. Just before London got started today we break this trend line. Typically, once something like this occurs, it’s very commonplace that a retest of this area is a high probability entry point back in the direction of the break, even if just for the short term. So let’s see, here we are at London market opening, after breaking this trend line and now sitting on the …

After yesterday’s fun selloff of the USD during London, we began pre-London today well extended on our Daily charts. The GBP/USD, EUR/USD, AUD/USD, all a country mile from their Daily 5 ema’s respectively. While this alone is not a reason to enter a trade back to those levels, it certainly makes it difficult to continue our USD selling until either support catches up to price, or more likely, a pullback to near those levels ensues. So in this video I show how I built a trade plan to Short …

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 …

As London opened today, the longer term 4 hour and Daily charts gave us every reason to believe it would likely be a difficult London session, since we were quite sandwiched between support/resistance on several pairings. As London was opening however, we were able to identify a price trap/triangle on the EUR/USD that looked promising if we could get a break. Using trap projections we were able to determine before ht ebreak a potential of 75 pips or so either way once a break would occurred …