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FOREX VIDEO - London Session Review - October 20, 2009

Posted on October 20, 2009 at 13:13 in Uncategorized by Christian Stephens

Throughout pre-London we had established a bit of a range on the majors early one, with some volatility showing up on the GBP/USD about an hour before London open. Even though the GBP/USD was starting to show some short term strength, the combination of a Daily trend line touch, along with a closed Bollinger Band on both the 4hour and 1hour charts indicated implied volatility for further upside was limited, at least on the near term. Armed with this information we started building trade plans around a lower high scenario. While the initial entry indeed take place prior to London open, there were a few more opportunities throughout early London to hop into this trade, including one exactly as London opened. In this video I walk you through these trade plans, that although were fairly high quality entries, in the long run ended up lacking follow through. Essentially successful trades in that they certainly moved far enough for us to protect very nice pips, but failed miserably reaching our objective. In the end, as London lunch arrived we had proven to stay in a fairly isolated range all night, with a few exceptions here and there. A rather tough night to make a lot of pips unless you were aggressive at protecting/scaling out your pips, which we did at every corner. Sometimes you have to scrape and claw to make your 120 pip night out of 30 here and 30 there.

FXBootcamp London Currency Coach-
Christian Stephens

Tags: 4hr, bollinger band, Christian Stephens, Daily, EUR/GBP, Fibonacci, Forex, FXBootcamp, GBP/USD, Gold, London, pullback, range, USD, USD Index

7 Responses to “FOREX VIDEO - London Session Review - October 20, 2009”

  1. on 20 Oct 2009 at 2:41 pm1Intrepid

    Thanks Chris

  2. on 20 Oct 2009 at 5:16 pm2Ludo

    great review thanks chris

  3. on 20 Oct 2009 at 5:25 pm3Jonnie

    Hey Chris,

    Excellent synopsis Video of the London session today, it helped me to re-affirm what I must have done right today as I traded cable three or four times today and came out +30 PIPS overall. I Really need to work on my scaling technique but seems that most trades these days are turning into BE trades rather than losers so thats a step in the right direction. Enjoyed the live session today also. Thanks - see you in class - Jonnie

  4. on 20 Oct 2009 at 6:33 pm4shahab

    hi
    i watch the pre london outlook and find it very interesting. however i dont understand why the end of day review never seems to discuss what the pre-open analysis are.

    is this something that happens on utube only?
    is there a full explanation of the days events/ pre- outlook in the live class room?
    or
    is it normal for one topic to be discussed in the morning and another in the evening?

    thanks

  5. on 20 Oct 2009 at 7:44 pm5Angelika Ellerbrock

    Thank you Chris, easy to understand

  6. on 20 Oct 2009 at 11:20 pm6Danny

    I liked your video.thanks

  7. on 21 Oct 2009 at 8:24 am7Bill H

    Chris, very nice set up and execution. I’ll see you in Bootcamp in November.

    Bill H

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