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Trading Strategies Interview with Nial Fuller

Quick review of how I Day trade the forex markets

As we reviewed the charts today prior to our London open, it did not take long to realize that many of our pairings were in a bit of a consolidation period coming into th London morning. These ranges however had indeed been tightening as London neared, and looked poised for a possible breakout sometime between London and the New York morning. As it turns out London itself turned out to be a lot of entries, but very few pips, as nearly everything we took started up 20-30 pips only to end up stopped break even. Wonderful day for a scalper or price scaler maybe, but not for sustainability. However, in this video I highlight one such trade plan that took nearly all night to finally start to pay off something substantial and that was the EUR/GBP. As discussed in the video we found ourselves in a tight apex which finally had a break below the support, and then it was just a matter of awaiting the pullback that actually offered 3 opportunities for one to enter before getting a move on. Hey take what you can get ya?! 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 …

The rest is here:
FOREX Trading Review Video 18 DEC 09 EUR/USD (+ 122 pips)

GBP/USD long trade based on a close above previous resistance. Entry made by candle pattern. Reasons for trade: – Strong Bullish engulfing candle close on the 4H, which closed aggressively above previous resistance. – Price found support off the 8 & 21EMA’s. – Strong momentum shown on the 1H charts which should carry a high probability trade. – Price action found support off the 50% fib level & old resistance level from daily chart. – Good angle and separation of the EMA’s confirming upward …

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 …

EUR/USD short trade based on the price action reaching top of channel. Risky trade, where I show you what to look for: – Series of 4H spinner closes showing trendline resistance, and lack of momentum to break price channel. – After the belt holding candle close at 16:00 (21/05/09) the small candles show a lack of momentum & emotion to the upside which you would expect with such a positive close. – Large MACD divergence on the 1D chart. – Price action is a large distance away from the 8EMA on …

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 …

Considering the Holiday week we are currently within, it should not be a surprise how we find ourselves in a relatively ‘thin’ trading market. Certainly most of the big money is sidelined right now as people spend time with their families, as they should. With this in mind it is not unwise advice to protect your profits perhaps a little more aggressively than normal, and not necessarily expect incredible trend swings during the majority of this week. Opening the London session today we found ourselves in a small identifiable price trap that wicked through the top of the trap just before the London open. After a rather violent 50 pip drop after the high price bounced hard off of the 1.4800 area. In this video I highlight how from this point we put together a trade plan with a fairly high probability of success for what resulted in a 60′ish pip trade. Not a steamroller thats fro sure, but in a thin market 50 pips here 60 pips there is what it’s all about. Happy Holidays!! FXBootcamp London Currency Coach- Christian Stephens