Today’s London session had proven to be ranging a good bit, with very little overall follow through of any moves. Even so, in this video we highlight how we used a drawn trendline break on the EUR/USD to build a trade plan. Correlation with the USD/CHF bouncing off it’s own trendline at the same time as the EUR/USD break was ideal confirmation of the break being legitimate. Then simply applying a Fibonacci retracement study from support at the 1.26 support area to the high of the break at 126.47, provided a nice 38.2-50.00% Fib entry zone of 1.2630-1.2625. This Fib zone was also the break area of the previous trend line which was an ideal situation of role reversal (resistance becoming support) along with the Fib level itself. Also it happened to be the Daily Central Pivot Point, and Weekly m3 pivot point. So lets see, break of all this resistance, following by a pullback/retest of this area which overlapped perfectly with the ‘ideal’ Fibonacci retracement zone.. Hmm, Yummy. Ultimately the EUR/USD returned to the 38.2 at 1.2630 then proceeded to immediately make it’s way to the 15m 200 EMA 50 pips away. Not an amazing amount of pips for a trade plan, but 50 pips for 20′ish pips risk (stop below the 78.6), right off support, works for me anytime. For a somewhat difficult London session take what you can get yes?

FXBootcamp London Currency Coach-
Christian Stephens

NY offered a fantastic continuation on the Japanese Yen pairs yesterday. Asian session provided a pullback pretty much across the board to the 38.2 Fibonacci levels. At London open we found ourselves in what looked like a tone of consolidation, awaiting for any inch of info to tip us off. Sure enough we noticed a ‘Fib of a Fib’ or something I like to call a reverse fib take place as shown in this video. This reverse fib generally indicates weakness in the original direction. Using this clue we looked deeper into the 1hr, 4hr, and Daily charts for proper support & resistance. Then using short term confirmation (2m macd), it was just a matter of awaiting for a proper Fibonacci pullback entry on (insert any yen pair here) pair. What followed was an extremely quick 90-100 pips on several yen pairs for an initial risk of around 35 pips. Tonight was tough to pinpoint direction, no doubt. Proper trade planning off of one minor clue led to payday again however. Happy Thanksgiving this week folks!

FXBootcamp London Currency Coach-
Christian Stephens

Not too long after London open, and the Eurozone IFO data was released, the Eur became a bit bullish and the Japanese Yens became weak, which was a nice recipe for a Eur/Jpy long position. In this video we show how even if one had missed the first long opportunity covering some 80′ish pips… Using Extreme patience awaiting a Fibonacci pullback that seemed to Never arrive, but finally did, we were still able to find a high quality, high probability setup. This entry we waited forever and a day for ended up paying off nicely with 60′ish pips, and later gave yet another pullback which took us higher during the recording of this video. Never chase price is the motto, this setup shows how patience & discipline wins the day.

FXBootcamp London Currency Coach-
Christian Stephens

After the Yen pairs retraced a bit from Thursday’s NY lows throughout Asia, we noticed some clues on the GBP/JPY that maybe the retracement was going to extend through London. Using some short term indicators as well as divergence gave us the clues and the price trap we needed. Using a simple 2 minute chart MACD cross, along with a Fibonacci retracement after the breakout/cross offered us the very repeatable low risk/high reward type setup that ultimately paid off in the form of around 190 pips depending on profit taking. 190 pips for a 30′ish pip original risk, not too shabby. Have a great weekend folks.

FXBootcamp London Currency Coach-
Christian Stephens

In this video we highlight how we picked apart the GBP/USD all night long in once it broke it’s 2-4hr trend line to the downside. Using ema’s (gotta love the 21), bollinger bands, and primarily Fibonacci retracements there were numerous entries/profit exits on this pair throughout the session. Every move offered a quality Fib pullback but you HAD to be on your toes and have your plans in place ahead of time to take advantage of them, no time to ‘think it over’ at crunch time. Ultimately the pair could not convincingly break the daily S1 pivot point, and clear the bottom enough to void a double bottom. However, using all the clues available to us, some shown in this video, we were able to take 50 pips here, 60 there, 40 here, and they sure do add up. Enjoy!

FXBootcamp London Currency Coach-
Christian Stephens

At London open today we were still within the apex of the Daily triangle on EUR/USD as well as many other pairs. Zoomed into a 15m chart we also had a series of higher lows and lower highs, for a smaller trap/triangle to work with. Right at London open the Eur/Usd wicked above the upper trap line indicating it may want to break. Upon closer inspection we noticed that we did not make any significant lows on the entire previous 1m stochastic cycle. Once the stochs recrossed up the 1m macd looked poised to do the same. In this video we highlight how we built & executed a complete trade plan on the Eur/Usd using primarily Fibonacci retracement for entry right when the 1m macd recrossed, along with Pivot points (daily & weekly) bollinger bands, ema’s and longer term Fibs for targeting. This trade even getting in after the break/retest still had a comfortable 3-1 risk vs. reward ratio before reaching it’s first resistance obstacle, which ultimately became a nice short. Not a huge trade at a 30-50 pip total, but they all add up yes?! Enjoy.

FxBootcamp London Currency Coach-
Christian Stephens

Quite an incredible rally we had in the stock markets yesterday NY afternoon. This caused quite a sweet rally in the Japanese Yen cross pairs throughout the end of the day, and a subsequent Asian fade back down afterwards. Once the Asian fade back to the 4hr 21ema and a Fibonacci level had been reached, London itself was left wondering what to do. In this video I show how we built a trade plan from the ground up on the EUR/JPY. All that was left to be done was WAIT for it. Capital preservation is goal number one, and if we did not get our setup entry clues, well no trade then. However, the macd divergence, and other clues in the video did not disappoint. After an hour of waiting for our confirmation it was a rather quick 130 ‘ish pip ride to the upside before hitting resistance and coming all the way back. This trade was available on all yen pairs as a basket, or any single one of choice. Tonight was not a night to chase price, but with a little patience and discipline a several hundred pip day was not all that difficult for one to achieve. Have a great day!

FXBootcamp London Currency Coach-
Christian Stephens

We had a nice bounce on the Japanese Yen pairings during pre-London up to the hourly 21 ema’s. Quite nice to see after literally days of a pure drop. In this video we set up from start to finish a nice little triangle breakout formation on the shorter term time frames with the GBP/JPY. Using a simple Fibonacci study after the break occurred offered up a low risk (30′ish pips), high reward (120-140′ish pips)setup to our projected top back at the hourly 21ema. Sure enough we bounce right off the 38.2-50% Fib zone and proceeded exactly to our target before reversing. 120-140 pips depending on entry/profit taking for all of 8 minutes work, Gotta love the FOREX.

FXBootcamp London Currency Coach-
Christian Stephens

We broke a nice little range we were in during the Moscow/Pre-London session on quite a few pairs, including the EUR/USD. While there were many more impactful opportunities about (Pound was Weeeeeak, and yens were a thing of beauty), in this video I focus on how we built a trade plan coming ‘into’ London open after the move had already produced nice pips. Using drawn trend lines we recognize a flag pattern develop on the 15m chart, along with key ema & Fibonacci levels. This overlap provided a decent risk vs. reward entry setup with a max target of around 90 pips for 30 or so pip risk. We determined target by finding an overlap of the daily m1 and weekly m1 pivot points, along with a fib extension as shown. Ultimately this trade only made it a little over half way to the target before coming all the way back to the entry zone (and another trade plan). Using proper trade management however most walked away with 20-40 pips from this move, all while allowing room for it to finish the move. Hey, not everything always goes as planned, but once you have break even locked in, and subsequently MAP (Minimal Acceptable Performance of 15 pips) then it’s time to let it run. Up to the market at that point.

FXBootcamp London Currency Coach-
Christian Stephens

With the markets in the world dropping 7-10% overnight again, things were very choppy as expected during today’s London session, NY should be the place to be today. Basically we had ranges all over the place, and had to stick to a pure support/resistance strategy in our planning. In this video I demonstrate how we put together a long trade setup on the Eur/Usd, planning for continuation. This video shows the importance of locking in break even after some profit, and locking in some profit along the way. As once we got 50ish pips in profit, things abruptly turned against us. Our number one goal at bootcamp is Capital Preservation. Without profit stops a loss would have occurred. Overall the plan that had a first target of 75 pips made it to 54 pips before reversing. Worse case scenario for most was a MAP stop of +15-20 pips. (MAP = Minimal Acceptable Performance of 15 pips.) What a crazy week indeed, be careful in NY today folks.

FXBootcamp London Currency Coach-
Christian Stephens