Very sweet session indeed on quite a few pairs today. In this video I focus on just one reload entry of one of these moves, the short on the GBP/USD. We had opened London and extended right down to our daily M1 pivot point/4 hour 200 ema combination. In this video I essentially show you the plan for a re-entry into this short yet again off of a combination of Fibonacci levels, hourly 5ema, daily S1 pivot point, and 4 hour 5 ema, and targeting our S2 pivot point today around 1.6250 or so.. This entry although planned well in advance by using 15m. 1hr. 4hr charts, ultimately was taken from a zoomed in 1 minute chart watching price action at our expected resistance area. With a risk of about 20 pips we snagged a nice 60+ pip reload here around 1.6328 without much difficulty. All pairs included though, today was just Sweet!

FXBootcamp London Currency Coach-
Christian Stephens

Here we are on the Monday right after the British Pound dove off a steep cliff. In addition, London’s time changed so that London open does not correspond with the normal London open for US traders, that goes back to normal Sunday when US times change as well. After such a massive move, we found ourselves in a bit of a range, playing ping pong between support and resistance throughout the first trading day of the week. Likely the best approach for extracting pips during this London session was going to be taking shots right off the tops and bottoms of these definable ranges using shorter term time frame clues ‘Around’ these zones, such as higher low’s or lower high’s. In this video I highlight one such trade plan that we executed in the room together involving the GBP/JPY. We identified a good deal of overlapping resistance around the 150.00 area on multiple time frames, then simply planned a low risk high reward short trade plan if and only IF we got a lower high to work with off this area, using a short term chart to zoom in. Sure enough it presented itself on a 2minute chart, a Lower High, with just 15 pips or so risk (very low risk on GBP/JPY), and a reward likely of 60-70 pips it was too hard to resist. As it were this trade dropped to around 40ish pip profit before pulling back near to entry for one final chance to get in or reload it, then fell for the remainder of the range/scalp trade right to our rising trend line. Hey take what you can get, we were ‘Scraping’ for our pips today, so a 60 pip trade was considered a Monster! =). Hopefully NY will kick it up a notch.

FXBootcamp London Currency Coach-
Christian Stephens

London started off kind of slow today and we bounced around a bit looking for strength versus weakness. Most of us were in some sort of a British Pound long from late in the pre-London session, but we were starting to see some clues of exhaustion, time to take some profit, or protect pips. Then we took notice of the GBP/JPY pair particularly starting to show short term MACD divergence pretty much exactly when it was hitting it’s Daily 200ema, previous swing high on the Daily chart, as well as the Weekly M4 reversal pivot point. While none of us wanted to pick a top, that divergence at that resistance was such a clue of a possible impending short trade plan, that any Lower High development on this short term chart was reason enough to give the short a shot with a higher high stop, 20 pips risk or so, targeting about a 40-50 pip move before we reached support again, and we also had British GDP approaching in a half hour or so. The EUR/GBP was also showing a double bottom at 90 cents, as even cable had a short term lower high. This was starting to smell of GBP sell off just before news. Just before the news came out we were 55 pips or so in profit on the GBP/JPY short, definitely protect break even at minimum as news could evaporate all of it, or even take some partial profit. Well the GDP came out negative and Whammo, British Pound ‘Everything’ plummeted 200 pips in no time at all. So what started out as a conservative lower high off resistance trade attempt, turned into a 300 pip trade by the end, or much more if you were in all the GBP pairs. Simply an amazing way to finish a fantastic week, and a reminder to all of us why you let profits run once you have break even or MAP (minimal acceptable performance 15-20 pips) locked in. You never know which trade will be the monster like this. Have a great weekend folks!

FXBootcamp London Currency Coach-
Christian Stephens

Yesterday we enjoyed quite a Piptopia on the British Pound breakout of a Daily trendline to the upside. Sure enough, today was our opportunity in London to short it back down to the trendline retest. Pre-London gave us our first lower high to work with on the GBP/USD, and the 2hr EUR/GBP started developing a higher low to give us confidence in the move. The rest of the London session was spent reloading shorts at every Fibonacci pullback possible and turning a 100 or so pip move into a 250 pip play due to exponential reloads, I just love days like this, purely technical. Bad Retail Sales for Britain helped finish the job and there we were, right on our target zone to take profit, could not script it better really.

FXBootcamp London Currency Coach-
Christian Stephens

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

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

During today’s pre-London session and then into the first hour of the London open, we were dealing with some short term British Pound weakness and Japanese Yen strength, a quality setup for a GBP/JPY short, that was very easy to plan for trade entries and targets prior to pre-London beginning. In this video I show why I looked for these setups to begin with, and how both I went about initial entries prior to the London session I coach, along with some reloads we took together in the London session with the class. The last of which ended up being stopped out break even, but over all a nice Monday starting over 100 pips, nothing wrong with that.

I have not made a video in a couple weeks, I apologize for that, just been trading extended hours lately, this video shows that as I rambled on a bit. Will tighten things up in the video’s to come, see you all tomorrow.

FXBootcamp London Currency Coach-
Christian Stephens

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

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

As we opened London today we had many clues on the EUR/GBP 1 hour, 4 hour, and daily charts that we were due for, at least on the short term, a modest pullback to the downside from it’s recent strength indicating potential short term British Pound strength. Couple this with the USD starting to dive down another notch, as witnessed on the USD Index last night, we had ourselves the perfect marriage for a Forex trade, a strong currency (GBP) vs. weak currency (USD. With this information in hand we began to build trade plans longing the GBP/USD off of support, at least until we hit the weekly central pivot point. In this video I break down how we went about planning and ultimately executing this trade off of a Fibonacci pullback support area just as the London market opened for a 45 pip or so end result. Not the biggest trade in the world, but the London session was speckled with 30-50 pip trades tonight, ad let’s face it, those add up well!

FXBootcamp London Currency Coach-
Christian Stephens