The EUR/USD had been showing Lower High’s for quite a while now on the 4 hour charts, forming a very distinct falling trend line. Just before London got started today we break this trend line. Typically, once something like this occurs, it’s very commonplace that a retest of this area is a high probability entry point back in the direction of the break, even if just for the short term. So let’s see, here we are at London market opening, after breaking this trend line and now sitting on the retested zone. Long off of this zone was certainly the plan, it was just a matter of the actual trigger and stop placement after that. In this video I show you how we built this trade plan to begin with, waited for our setup to be met, and took action. This trade ended up extending well for roughly a 1-3 risk vs. reward ratio for about a 70 pip winning trade. Nice way to end the month/quarter!

FXBootcamp London Currency Coach-
Christian Stephens

Hi everyone. In this outlook I cover a multitude of pairs including the Euro USD, Euro Pound, Euro Yen and Pound Yen. Both the Yen set ups are almost identical; simply looking to meet the daily downtrend and trade with it. The Euro on the other hand is a little more of a complicated read, for the time being we are in a 4 hr channel, however I don’t expect that to last forever and I look at some breakout possibilities. I hope you enjoy the video!! David Pegler

After rising during the early portion of today’s London session, the U.S. dollar index reached an area which has been historically significant over the past couple of years. From that point forward, the dollar basically remained flat against the euro through the London close. Although there were some opportunities to scalp the British pound pairs, capital preservation was arguably the most prudent position during today’s New York session.

Curt Wehrley
FX Bootcamp’s Quantitative Analyst

Hi everyone, for today’s presentation I stick with the majors and analyze the Pound USD, Euro USD and Euro Pound. The Pound has hit some significant support on a weekly chart so the question for us over the next 48 hours is whether we are going to see a significant pullback or is price determined to continue to the short side? All three currency pairs today are looking trapped on the medium term and I make use of some simple price traps to determine direction. Good luck!! David Pegler

After an amazing week of shorting everything GBP last week, Asia seemed to have found a temporary bottom, evident by a series of higher lows taking place everywhere. This continued in early pre-London, and ultimately into the London open. While the directional trend may not be over, there were certainly enough pips between support entry points and initial resistance to build conservative trade plans on the counter trend today, at least until this very identifiable resistance, in which new shorts could be in order. So in this video, I show very clearly first what got me into a couple shorter term GBP/USD longs in pre-London, and beyond that the complete trade plan for the long we took in today’s London FXBootcamp session together, where we took profit, why, and how we shorted this resistance attempting to continue the recent short tone once reaching this level.

Hope everyone had a great weekend, and fantastic Monday trading London.

FXBootcamp London Currency Coach-
Christian Stephens

Average Daily Ranges*
for use during the trading week of
September 28 - October 2, 2009

* - Based on GFT DealBook 360 price data from August 31 to September 25, 2009. “Upper BB” predicts the maximum daily range for 95 of every 100 trading days, and is calculated by adding 2 standard deviations [of the ranges over the August 31 to September 25 period] to the average daily range.

Weekly Pivot Points*
September 28 - October 2, 2009

* - 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.

Weekly Pivot Points spreadsheet - This spreadsheet contains the weekly pivot points displayed above. The data can be downloaded in any one of several file formats by clicking the Export option on the spreadsheet’s menu bar.

Printable version - This is a printable version of the weekly pivot point tables displayed above.

Hey everyone, this is my normal detailed market look but I wanted to get something to you in light of the significant currency moves we have seen over the last few days. I take a brief look at Cable and the Pound Yen and put together a few very conservative trend following trade plans. I also discuss some possible scenarios we could see during the London session today. Good luck!! David Pegler

Bank of England governor Mervyn King told a local U.K. newspaper that the country’s banking sector is “not in good shape,” and that he saw the decline in the British pound as “helpful” to re-balancing of the country’s economy. When the market got word of King’s comments, sterling got smoked. Multiple short trade setups on the GBP/USD currency pair materialized during the first hour of today’s New York session. Those who shorted the cable realized a profit of up to 170 pips [depending on entry and exit strategy].

Curt Wehrley
FX Bootcamp’s Quantitative Analyst

Hi everyone, with lots of news today it’s left our charts in a somewhat of a technical shambles. However it does look like we are about to see a dose of dollar strength. As weak as the dollar has been over the last month, moving forward in a conservative cautious manner makes the most sense. For this outlook I have constructed 2 very conservative trade plans for Cable and Euro USD respectively. Good luck and I hope you enjoy the video. David Pegler