Weekly Pivot Points*
December 1-5, 2008

* - Based on a trading week starting on Sunday at 21:00 GMT and ending on Friday at 21:00 GMT, using price data from GFT’s DealBook 360 platform. To convert GMT to your local time, go here.

Monthly Pivot Points*
December 2008

* - Based on GFT DealBook 360 price data from November 1-28, 2008

We are trying to form up an hourly double top for the 10yr T Note, if that sticks we should see a nice rally in the equity markets. With a good looking technical pattern such as a clear double top its going to be my guide for the day moving forward. I build on the Euro Yen setup that we have been tracking the last few days. I hope you enjoy the video, good luck further!! David Pegler

Two classic trade setups materialized during the early portion of today’s New York session. A classic channel trade on the EUR/JPY during the hour prior to the New York open produced a 120-pip profit. Minutes after the close of that trade, an announcement by the Federal Reserve of their new TALF program was the catalyst for US dollar weakness across the board, setting the stage for a 150-pip news scalp trade on the EUR/USD.

Curt Wehrley
FX Bootcamp’s Quantitative Analyst

NY offered a fantastic continuation on the Japanese Yen pairs yesterday. Asian session provided a pullback pretty much across the board to the 38.2 Fibonacci levels. At London open we found ourselves in what looked like a tone of consolidation, awaiting for any inch of info to tip us off. Sure enough we noticed a ‘Fib of a Fib’ or something I like to call a reverse fib take place as shown in this video. This reverse fib generally indicates weakness in the original direction. Using this clue we looked deeper into the 1hr, 4hr, and Daily charts for proper support & resistance. Then using short term confirmation (2m macd), it was just a matter of awaiting for a proper Fibonacci pullback entry on (insert any yen pair here) pair. What followed was an extremely quick 90-100 pips on several yen pairs for an initial risk of around 35 pips. Tonight was tough to pinpoint direction, no doubt. Proper trade planning off of one minor clue led to payday again however. Happy Thanksgiving this week folks!

FXBootcamp London Currency Coach-
Christian Stephens

A great day yesterday but today is going to present a whole new batch of challenges. Today I expand on yesterday’s Euro Yen trade plan and explore a few eventualities moving forward. Please enjoy the video and good luck today!! David Pegler

Selling of the U.S. dollar and Japanese Yen was the dominant theme in today’s currency markets, as an increase in risk appetite was evident throughout American financial markets following last weekend’s economic announcements by U.S. president-elect Barack Obama and U.S. government bailout of Citigroup. As the sun rose across the U.S. eastern coast, the EUR/USD broke a level of resistance. From re-test of the resistance level to pivot profit zone, the long trade produced a 100-pip profit.

Curt Wehrley
FX Bootcamp’s Quantitative Analyst

Click to see what I think about the new cabinet picks, the Citigroup bailout, EUR/USD and EUR/JPY.
http://www.forextv.com/Forex/Video/Video.jsp?channel=41&movieid=43092

- Wayne McDonell

Not too long after London open, and the Eurozone IFO data was released, the Eur became a bit bullish and the Japanese Yens became weak, which was a nice recipe for a Eur/Jpy long position. In this video we show how even if one had missed the first long opportunity covering some 80′ish pips… Using Extreme patience awaiting a Fibonacci pullback that seemed to Never arrive, but finally did, we were still able to find a high quality, high probability setup. This entry we waited forever and a day for ended up paying off nicely with 60′ish pips, and later gave yet another pullback which took us higher during the recording of this video. Never chase price is the motto, this setup shows how patience & discipline wins the day.

FXBootcamp London Currency Coach-
Christian Stephens

This week we have a ton of economic data to deal with as well as Thanksgiving on Thursday, so it should be an interesting week looking forward. Today I examine Euro Yen in some detail, I use visual support and resistance and MACD divergence for major clues moving forward. Good Luck all!! David Pegler