After an incredible day yesterday things were sort of calm pre-London in a nice 60-70 pip range on the USD majors. We zeroed in on the Eur/Usd, and put a trap/trade plan together. In this video I recap in detail how we were able to take advantage of several low risk/high reward trade setups, the first of which presented itself right as the London Market was opening. If that entry was missed, a quick 1m swing entry presented itself shortly thereafter using a Fibonacci study on the 1m chart. At the same time Oil was breaking a small 5m channel to the downside/bouncing off 4h resistance. This drop was agreeing/helping the USD gain strength, or Eur/Usd falling. We then ‘Fibbed’ entries all night long on the Eur/Usd for pips, pips, and more pips. Fun stuff, another day at FXB.

FXBootcamp London Currency Coach - Christian Stephens

Weekly Pivot Points*
September 22 - 26, 2008

EUR/USD GBP/USD USD/CHF USD/JPY USD/CAD

R3 1.5114 1.9207 1.1630 113.63 1.1084
M5 1.4971 1.9002 1.1543 112.23 1.1015
R2 1.4827 1.8796 1.1455 110.82 1.0946
M4 1.4736 1.8676 1.1352 109.98 1.0827
R1 1.4645 1.8555 1.1249 109.14 1.0707
M3 1.4502 1.8350 1.1162 107.74 1.0638
PP 1.4358 1.8144 1.1074 106.33 1.0569
M2 1.4267 1.8024 1.0971 105.49 1.0450
S1 1.4176 1.7903 1.0868 104.65 1.0330
M1 1.4033 1.7698 1.0781 103.25 1.0261
S2 1.3889 1.7492 1.0693 101.84 1.0192
M0 1.3798 1.7372 1.0590 101.00 1.0073
S3 1.3707 1.7251 1.0487 100.16 0.9953

AUD/USD NZD/USD EUR/CHF GBP/CHF EUR/CAD

R3 0.9092 0.7438 1.6408 2.1073 1.5855
M5 0.8909 0.7303 1.6320 2.0895 1.5760
R2 0.8726 0.7168 1.6232 2.0717 1.5664
M4 0.8629 0.7098 1.6167 2.0594 1.5534
R1 0.8532 0.7027 1.6102 2.0471 1.5403
M3 0.8349 0.6892 1.6014 2.0293 1.5308
PP 0.8166 0.6757 1.5926 2.0115 1.5212
M2 0.8069 0.6687 1.5861 1.9992 1.5082
S1 0.7972 0.6616 1.5796 1.9869 1.4951
M1 0.7789 0.6481 1.5708 1.9691 1.4856
S2 0.7606 0.6346 1.5620 1.9513 1.4760
M0 0.7509 0.6276 1.5555 1.9390 1.4630
S3 0.7412 0.6205 1.5490 1.9267 1.4499

AUD/JPY EUR/JPY GBP/JPY NZD/JPY CAD/JPY

R3 100.77 166.79 213.63 83.25 111.02
M5 98.02 163.98 209.49 80.96 108.96
R2 95.26 161.16 205.35 78.67 106.90
M4 93.84 159.72 203.20 77.51 105.82
R1 92.42 158.28 201.05 76.34 104.74
M3 89.67 155.47 196.91 74.05 102.68
PP 86.91 152.65 192.77 71.76 100.62
M2 85.49 151.21 190.62 70.60 99.54
S1 84.07 149.77 188.47 69.43 98.46
M1 81.32 146.96 184.33 67.14 96.40
S2 78.56 144.14 180.19 64.85 94.34
M0 77.14 142.70 178.04 63.69 93.26
S3 75.72 141.26 175.89 62.52 92.18
* - based on GFT DealBook 360 price data

At the open of today’s European session, major central banks announced a coordinated move to improve liquidity conditions in the global financial markets. The EUR/USD rose in response and managed to break above resistance of the 100-pip range which had defined the pair’s previous 12 hours of price action. A 100-pip trade was the outcome for traders who executed a long trade entry at the re-test of resistance, then took profit at the daily M4 pivot point.

With lots of greed and fear in the market sometimes keeping it simple can pay dividends. We were able to trade a triangle breakout for GBPUSD. Lots of volatility but the plan never changed. Happy trading-David Pegler

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Strategic and Tactical Forex Trading Friday, September 12 · 10:30 am - 11:30 am PDT Full Session Details: Stop reacting to price. Stock chasing trades. Learn how to gather intelligence from your charts to plan your trading in advance. This workshop will teach you how to enter and exit your trades based on aligning market and price action. Traders will benefit from a sound understanding of technical analysis to adjust their trading tactics, anticipate trades before they develop, and, most importantly, how to avoid potentially losing trades. This is an updated and revised version of last year’s “Best in Show” educational workshop. Beginners Start Here: The Basics of Trading Forex for Newbies Friday, September 12 · 2:00 pm - 3:00 pm PDT Wayne McDonell Chris McMahon Marilyn McDonald Todd Gordon Luis Sanchez Jason Yu Full Session Details: Not sure what the difference is between a “pip” and a “tick”? This session is for you! Here, you’ll learn the basics of foreign currency trading, including how currency pairs trade and basic chart reading strategies you can use to get started. We’ll also discuss what types of news and announcements effect world currency and how a twenty-four hour market will impact your trading style. Finally, you’ll learn what questions you should be asking a forex broker before opening an account. Questions will be taken throughout the workshop and no question is too basic. You’ll leave with the knowledge you need to make intelligent decisions about getting started in forex. Advanced Forex Trading Tactics Saturday, September 13 · 2:00 pm - 3:00 pm PDT Full Session Details: This intense workshop will teach experienced forex traders how to scalp trade, how to trade the news, how to use multiple timeframes, and how to conduct intermarket analysis. If you’ve been trading forex for a while, but need to see how to “put it all together,” this presentation will show you how to tactically execute your trade plans like a professional trader.

Weekly Pivot Points*
September 8 - 12, 2008

       AUD/USD   NZD/USD    EUR/CHF  GBP/CHF   EUR/CAD

R3      0.9035      0.7344      1.6494     2.0412    1.6032
M5     0.8921      0.7259      1.6411     2.0295    1.5936
R2      0.8807      0.7174      1.6328     2.0178    1.5840
M4     0.8645      0.7051      1.6235     2.0071    1.5667
R1      0.8483      0.6929      1.6142     1.9965    1.5495
M3     0.8369      0.6844      1.6059     1.9848    1.5399
PP      0.8255      0.6759      1.5976     1.9731    1.5303
M2     0.8093      0.6636      1.5883     1.9624    1.5130
S1      0.7931      0.6514      1.5790     1.9518    1.4958
M1     0.7817      0.6429      1.5707     1.9401    1.4862
S2      0.7703      0.6344      1.5624     1.9284    1.4766
M0     0.7541      0.6221      1.5531     1.9177    1.4593
S3      0.7379      0.6099      1.5438     1.9071    1.4421

       AUD/JPY   EUR/JPY    GBP/JPY   NZD/JPY   CAD/JPY

R3    100.58      167.69      206.75      81.41     107.57
M5     98.74      165.67      204.29      80.04     106.40
R2      96.89     163.65      201.82      78.66     105.22
M4     94.64      161.15      198.92      77.00     104.26
R1      92.38     158.64      196.01      75.33     103.29
M3     90.54      156.62      193.55      73.96     102.12
PP      88.69      154.60     191.08       72.58     100.94
M2     86.44      152.10      188.18      70.92      99.98
S1      84.18     149.59      185.27      69.25      99.01
M1     82.34      147.57      182.81      67.88      97.84
S2     80.49      145.55      180.34      66.50      96.66
M0     78.24      143.05      177.44      64.84      95.70
S3     75.98      140.54      174.53      63.17      94.73

* - based on GFT DealBook 360 price data

       EUR/USD   GBP/USD   USD/CHF   USD/JPY   USD/CAD

R3      1.5118      1.8645     1.1505      113.08     1.0985
M5     1.5018      1.8522     1.1425      112.10      1.0933
R2      1.4919      1.8399     1.1346      111.12     1.0881
M4     1.4755      1.8213     1.1306      110.27      1.0816
R1      1.4591      1.8028     1.1266      109.42     1.0751
M3     1.4491      1.7905     1.1186      108.44      1.0699 
PP      1.4392      1.7782     1.1107      107.46     1.0647
M2     1.4228      1.7596     1.1067      106.61      1.0582 
S1      1.4064      1.7411     1.1027      105.76     1.0517
M1     1.3964      1.7288     1.0947      104.78      1.0465
S2      1.3865      1.7165     1.0868      103.80     1.0413
M0     1.3701      1.6979     1.0828      102.95      1.0348
S3      1.3537      1.6794     1.0788      102.10     1.0283

Belive it or not, this book doesn’t launch until next week, but its already the best seller on Amazon.com.  Thank you for your loyalty. 

You can still get the pre-release discount here:

http://www.amazon.com/Bootcamp-Guide-Strategic-Tactical-Trading/dp/0470187700/ref=sr_1_18?ie=UTF8&s=books&qid=1220641348&sr=1-18

I’d like to thank the 600+ traders who registered to attend todays "Trade NFP Live" webinar.

I recieved a lot of interest during the event about the following:

The FREE Two Hour Video Workshop:

http://forex.typepad.com/fxbootcamp/2008/05/2-hour-video-st.html

The New FOREX Trading Book by FX Bootcamp:

http://www.amazon.com/Bootcamp-Guide-Strategic-Tactical-Trading/dp/0470187700/ref=sr_1_1?ie=UTF8&s=books&qid=1219697626&sr=8-1

Thank you for attending the webinar.

Have a nice weekend.

Wayne McDonell - FX Bootcamp, LLC

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