The Daily trendline on the GBP/USD was under pressure again today, starting back in late Asia into the pre-London session. Then again we found ourselves with some proper Fibonacci pullback entries into the London session, onward past the now broken daily trend line for new recent high’s. In this video I show how we built a couple GBP long trade plans during our London session, as well as covering the more difficult Fib entry at 4:30am, which although technically perfect, was a difficult entry to take since we had GBP news being release Exactly when we are at this point. Yet even after this tough entry, we did indeed get one more pullback opportunity to reload this GBP/USD long, or whichever GBP pair of your choosing. Wonderful pip total day indeed longing the British Pound Sterling!

FXBootcamp London Currency Coach-
Christian Stephens

Today’s London session started mostly ranging with very little clarity of direction on the short term. While we had some opportunities to do some range trading, the London open brought very clear and quick strength to the British Pound Sterling. In this video I show in detail how we were able to determine potential strength in the GBP/USD shortly before it occurred. Also, how we built and followed through on a long GBP/USD trade plan on a Fibonacci pullback after the break, over an hour after it’s break. Patience and discipline were needed to await this setup, which ultimately awarded a little over 40 pips before failing. Not every trade runs away, take what we can get when we can get it.

FXBootcamp London Currency Coach-
Christian Stephens

Today’s London session began in a quite volatile manner on many pairs, after a relatively flat Pre-London session. While there were a few setups, in this video I focus entirely on a quite obvious 15minute symmetrical triangle price trap on the EUR/USD. As the London money was flowing in we created a tighter and tighter apex, at one point just 15 pips or so wide. In the video I demonstrate how we planned our target at today’s M4 pivot point using trap projections, waited for the break of the price trap, and use a shorter term chart along with Fibonacci retracement levels to execute our 3.5-1 reward vs. risk entry. Ultimately our target was reached for our 50′ish pip trade, or even if one had taken profit aggressively should have been at least a 40′ish pip trade. This long by no means ‘HAS’ to stop at the M4, yet if that was your plan, you should stick to it always. Planning your trades, and entirely sticking to your plans will greatly reduce the stress in trading the Forex market. Not the biggest trade in the world, but as seen in the end of the video, the bigger EUR/USD trade may be just around the bend.

FXBootcamp London Currency Coach-
Christian Stephens

During pre-London today we had a good bit of activity going on. In this video I focus primarily on the Eur/Jpy trap breakout that began just as London had opened, and offered multiple reload points throughout the London session to it’s eventual final take profit zone at today’s M4 reversal pivot point. While the longer term big picture could end up much different based on trap projections, on the short term we performed a perfect M2-M4 pivot theory move today, as well as a 38.2 to 161.8 Fibonacci extension move. Enjoy.

FXBootcamp London Currency Coach-
Christian Stephens

Any doubts about the direction of today’s Forex market were settled during today’s New York session. After reaching pivot profit zones earlier in the day, the US dollar and Japanese yen pairs set a new course as risk aversion enveloped the market. The dollar’s recovery kick-started a range breakout trade on the GBP/USD, which yielded a healthy profit of 170 pips prior to the London close.

Curt Wehrley
FX Bootcamp’s Quantitative Analyst

The British Pound Sterling opened today’s London session looking very tired to the upside, showing things such as continuous lower highs on the GBP/USD, and higher lows on the EUR/GBP. The ‘Cable’ seemed almost destined to tag it’s 4hour 21 day exponential moving average, all we needed was a reasonable trade plan, and entry criteria with a proper risk vs. reward ratio to get us in, that we could live with. In this video I highlight in great detail, how what we spotted on the daily and 4 hour charts at first, led us to identifying a quality price trap on the 15 minute intraday chart at the London up. Then ultimately used one final lower high on a small 1 minute chart to prove our direction, build a plan, and take a Fibonacci pullback after the break of our trap for some nice pips. There was indeed volatility today, and one’s total success certainly depended on profit taking practices. However, we did indeed ultimately reach our price trap projection, along with the 4hour 21ema before a solid round of profit taking began. Patience and discipline were the key here, while a price ‘chaser’ would have gotten creamed today, the pullback trader became well fed.

FXBootcamp London Currency Coach-
Christian Stephens

After a tremendous response from the FOMC statement yesterday on the USD, we found ourselves rather extended opening London today. While the EUR/USD was a tougher read, the GBP/USD was issuing many clues to it’s upward intentions after already making it’s way to a nice overall 38.2 Fibonacci pullback pre-London. Using additional correlation with the EUR/GBP, we were able to indicate several reasons that the British Pound Sterling should gain against the USD today more than the Euro. Once this analysis was complete, we then zoomed into the now, and identified support/resistance, along with several higher low’s. Just as London opened we broke this upward resistance, and in this video I highlight how, using Fibonacci, along with short term price action, offered us a beautiful 20′ish pip risk to 100′ish pip reward type setup that we could feel very good about pulling the trigger on. Regardless how one took profit on this move the minimum profit should have been in the 70 pip range, and while making this video one would be up around 120 pips as it has continued to the weekly m4.

FXBootcamp London Currency Coach-
Christian Stephens

Today’s London session started off with a bang! We found ourselves in a very definable triangle price trap pre-London which was breaking just as the London boys sat down to play along with the rest of us. The top of the day had started with a bounce off the daily central pivot point/hourly 21ema, and now it was quite obvious money was starting to change hands at the open. Once the lower low/break had occurred we verified the British Pound’s intentions using the EUR/GBP pair which was correlating perfectly with Pound weakness at that time, as illustrated in the video. Then using a simple Fibonacci retracement study on a short term chart we were able to identify our best area of reward vs. risk for entry, then off to the races we were. Then around 20 minutes after the open we identified one additional pullback entry opportunity for those who missed the initial entry. In this video we discuss in great detail how we setup this trade plan, which could have been taken on any pound pairing (GBP/USD, GBP/JPY, GBP/CHF, EUR/GBP), projected our targets, and finally took profit at the daily S2 reversal pivot point. What a wonderful session to be short the British Pound Sterling.

FXBootcamp London Currency Coach-
Christian Stephens

London today opened with the British Pound/USD pairing stuck in a little triangle, price trap. Just as London opened it seemed to breach the upper resistance of this trap , but quickly proved to be a fakeout when we awaited a pullback. In this video I show how, in great detail, how we were able to stay out of the long, and build a solid tradeplan on the break either way of the trap. Sure enough we got a break on the next test of the bottom, awaited a Fibonacci pullback to the now broken trendline, and it was pretty much straight to our projected target in no time after that. Having solid patience and discipline in this setup led us to a very high quality pullback entry risking 22 pips or so for an 80 pip reward, London could start off worse eh? Good stuff.

FXBootcamp London Currency Coach-
Christian Stephens

Hey everybody. Tons of volatility in the equity markets today but that doesn’t mean to say we have accomplished anything. The last few days have been nothing more than a period of volatile consolidation. This is also reflected in numerous currency charts including Euro Yen our focus pair this week. Definitely a market that requires a nimble trading hand that’s for sure. Although today’s trade plan is a break out strategy that does not imply trying to buy at resistance and sell at support, quite the opposite in fact!! Enjoy the video presentation and good luck today. David Pegler