Day Trading: 23 August

Welcome to the video update for Monday, August 23rd. First chart is the EUR/USD pair weekly chart where price pulled back for the 2nd consecutive week. If you know the 9/30 method take a look and see if the 9ema has crossed the 30wma on this weekly chart. Also, look at the gap between the fast sto and the slow sto. Mean anything? We are still tracking a possible ab=cd pattern with a D target at just above 1.1400. Trader Rick also looks at the 60 min EUR/USD pair chart and notes where initial overheard resistance may come in to play. if you trade the euro futures contract (6E) take a look at the 174 minute chart. Last weekends video update gave a full target of 1.2731 which was hit in last Friday’s trading. See what the wave count may be indicating. Next up is a quick update from last weekends video update in the yen (6J) so if you trade the yen be sure to check this chart out. Final charts are the S&P cash weekly, the ER weekly and the ES 203 minute and ES 60 min charts. Full target on the bearish wedge pattern on the 2 bar per day chart is close by. Good trading!

FOREX VIDEO – London Session Review – August 19, 2010

Pre-London today started off rather choppy and uneventful. However, as the London open approached we found ourselves nearing an overlap on the EUR/USD of a Fibonacci pullback zone, previous area of support/resistance, hourly angled 21 ema, and 15m 55ema. This offered us a nice opportunity to build a 50-75pip trade plan with a 25 pip’ish risk, to around the S2 reversal pivot point, which was shaping up to give us our entry exactly at the open. Sure enough this overlap proved fruitful and gave us a quality trade entry. Ultimately, as shown in the video, we started to show signs of the end after we tagged neared the S2 pivot point, end result 40-50 pip trade to start the day, not too shabby. FXBootcamp London Currency Coach- Christian Stephens

FOREX VIDEO – London Session Review – August 26, 2010

We began London today with a strong British Pound that had been gaining ground since Asia. We were however, sitting right at resistance as London was about to open, as was the Euro also. On top of this every single Yen pairing was either at resistance or showing signs of rolling over, such as lower high’s etc. So lets see what this hints to us about to happen. Strong Yen, weak GBP, weak EUR, at least until support yes? Fair enough so we set out to build trade plans to short the EUR/USD, GBP/USD, EUR/JPY, and GBP/JPY. In this video I detail the plan involving the GBP/JPY short, how we set it up, exactly where we pulled the trigger and why, where we placed stops, took profit, and eventually reloaded the trade. Not one pairing today paid us a ton of pips individually, but as a collective it was a very profitable day if you took a couple of these, and even more so if you reloaded them. Only time will tell what NY will take us from here. FXBootcamp London Currency Coach- Christian Stephens

FOREX Training Video | London Session August 11, 2008

After the tremendous recent leg of the USD strength Friday, and the decent GAP trading on the Sunday open, we were cautious entering London. Most major pairs had trended strongly and all hit the next substantial support/resistance areas. A pullback looked more likely than anything, so we zoomed in on the majors to get a real fix on the USD. In this video I show you how we walked the room through a conservative, low risk, high reward entry on a EUR/USD long that gained 60-100 pips depending on entry & profit taking, using a not a lot more than a higher high. This was also the case with AUD/USD (in the video) GBP/USD and basically any USD pairing. The trend may not necessarily be over, but profit taking pullbacks were fairly easy to spot during today’s London. Several hundred pip day, love starting the week this way. FXBootcamp London Currency Coach – Christian Stephens