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FOREX VIDEO - London Session Review - May 4, 2011
Posted on May 4, 2011 at 12:06 in Uncategorized by Christian Stephens

Lately they easy pips have been coming from odd times, such as after London close (NY Afternoon), and late Asian into Pre-London entries. London itself has become a bit of a street fight for the most part with some exceptions. Today was no different. In this video I show one of the setup’s we covered in today’s London session, attempting to continue the upside move on the EUR/USD that Asia started. All this week we have been in mostly a consolidation phase 110 pip or so range that is easily identified. While many of us were long from the bottom of the range around 1.4780, the plan in this video focuses on the London entry after breaking the mid-point resistance. The entry was planned using primarily Fibonacci retracement levels combined with role reversal, and overlapped moving averages. While the trade only made it to around +35-38 pips, it was still a successful trade that ultimately found sellers waiting for it at the top of the range as expected. Whether you scalped these pips, or stayed in with a break even stop hoping for the resistance to break and head to 1.50 was a personal choice.

FXBootcamp London Currency Coach-
Christian Stephens

Tags: 21ema, channel, Christian Stephens, consolidation, correlation, EUR/USD, Fibonacci, Forex, FXBootcamp, midpoint, overlap, pullback, range, role reversal, us index, USD

5 Responses to “FOREX VIDEO - London Session Review - May 4, 2011”

  1. on 04 May 2011 at 1:54 pm1Adam_P

    Thank you

  2. on 04 May 2011 at 2:49 pm2bill

    Thanks Chris, snuck 4850 early NY, tight stop, hoping for a break and got it

  3. on 04 May 2011 at 7:12 pm3Robert

    Thanks Chris!

  4. on 05 May 2011 at 3:26 am4Ron

    Thanks - good recap.

  5. on 05 May 2011 at 5:14 am5Dave

    Thanks

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