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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 …

Since the weekend I had spoken in length in the London FXBootcamp session about seriously developing 4hour MACD divergence on every Japanese Yen pairing I could pull up. About a third of the way into today’s London session we began to see hints of a change in direction, such as USD/JPY having an hourly lower high, then breaking it’s recent price trap’ support level in the 15m chart. In class we covered the trade plans for shorting the GBP/JPY, EUR/JPY, and USD/JPY, and any trader could have …

Today’s London session was extremely tedious and difficult. Quite a few of us experienced +15-25 pip trades come back to stop us out at break even or just slightly in profit. Essentially we had zilch for follow through during these 3 hours. However, there was one highly probable area of support showing up for the Japanese Yen pairings around 4:30am NY time, right in the thick of London’s market. In this video I demonstrate how we substantiated this support on multiple time frames, which …

While we had a fair amount of trade plans during today’s pre-London and London session, in this video I focus entirely on one particular GBP/JPY short trade plan that ended up a nice 130′ish pip trade for about 22 pips of risk. In this video we take a look at how something seemingly as small as MACD divergence on a 2 minute chart around longer term resistance, while not an entry trigger, is certainly enough to start building a trade plan to go the other way. GBP/JPY had been rising off the 4 …

Today we found ourselves hitting support just as the London market opened while were were still in the midst of a solid 4hr/daily downtrend on cable and the yen pairings. While there is no reason to think the downtrend is over, the charts were certainly showing many clues of needing to hit some upper support, such as the 1hour 21 ema or daily 5ema, in order to continue it’s strong downtrend. So throughout London we adopted the ‘Scalp up, so we can Spot trade down’ mentality. In this video I …

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 …

Quite a pre-London move was in play to start today’s London session on the Japanese Yen pairings, and one could have found themselves up quite a nice amount of pips already to start the London morning. In this video however, we highlight how using primarily Fibonacci retracement levels, along with currency correlation (EUR/GBP, GBP/USD, USD/JPY) we were able to plan and execute a high quality short continuation on the GBP/JPY, since the British Pound was very weak at the time, for a …

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 …

During pre-London today we had a good bit of activity going on. In this video I focus primarily on the Eur/Jpy trap breakout that began just as London had opened, and offered multiple reload points throughout the London session to it’s eventual final take profit zone at today’s M4 reversal pivot point. While the longer term big picture could end up much different based on trap projections, on the short term we performed a perfect M2-M4 pivot theory move today, as well as a 38.2 to 161.8 …