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

Stellar day for the British Pound Sterling. We started off pre-London a bit slow, but gave no reason to doubt continuation of our GBP strength started yesterday during the London session, as the EUR/GBP was tipping it’s hand early letting us know it’s intentions for the Pound tonight.. While there were numerous GBP long related entries speckled through out the European/London sessions, in this video I focus on one of the latter entries, a News scalp. In this video I show why we felt bullish still on the GBP to begin with, how we built our trade plan, where we planned to stop our loss and take our profit. After which we simply awaited the news release, and plotted our Fibonacci pullback entry zone after initial direction was known. What we ended up with for a news scalp was about as good as it gets, a 45′ish pip trade bouncing right off our target for a full hit, for only a 10-12 pip risk. We had larger spot traders today, but I really wanted to share this news scalp with you, as I believe this type of trade is where many have a hard time dealing with. Today was a wonderful British Pound Sterling buffet, I do hope you got your fill as well!

Have a fantastic holiday weekend!

FXBootcamp London Currency Coach-
Christian Stephens

As has been the theme for a while now, we opened London continuing a long GBP/USD, and long GBP/JPY that began in early pre-London trading. As London opened, we found ourselves retracing perfectly to our Fibonacci retracement zone along with the 15m 21ema. This pullback was happening without actually reaching resistance at 6610-6615 first, so we felt very confident in building a trade plan for longing off support, targeting at least this resistance. To make things even more interest, as depicted in the video, we observed very obvious MACD divergence with price action on bot the EUR/GBP and GBP/CHF 2 hour charts, which both were indicating British Pound strength was likely on the way for a bit. Our first pullback entry netted us maybe 30 pips tops before making an overall lower high and stopping us out +15 pips. In this video I highlight in great detail how we built the next long trade plan for both an aggressive style entry, and a more conservative entry, once we respected support the next time. Sure enough we broke the trap, and ultimately reached our target for a nice 70′ish pip trade for most, and even made it past resistance for those that did not take profit.

The money is made in the waiting folks!

FXBootcamp London Currency Coach-
Christian Stephens

Today’s London session opens up with the British Pound/USD pairing making yet another higher low on the longer term charts, and hinting a return to the top of it’s very clear Daily up channel, 150 or so pips away. At the same time the EUR/GBP pairing showing clear MACD divergence, and a break of it’s own shorter term (2hr time frame) trend line, indicating Pound strength for near term anyway, at least until the low 89 cent range. With this all in mind we awaited the break of today’s central pivot point on the GBP/USD, followed by a Fibonacci pullback. What makes today’s pullback entry so different is correlation. As Cable began it’s slight pullback where we were all poised for likely long positions around the CPP retest at the 1.4140 area, the USD suddenly expressed weakness which countered the GBP/USD pullback in it’s tracks. While simultaneously the EUR/GBP had hit it’s pullback resistance perfectly, which hinted at GBP strength - Right Then -. All of this is illustrated in today’s video. If one had ‘Only’ been watch GBP/USD they could have very well missed this entry around 1.5150 as the subtleties of the USD weakness, along with the EUR/GBP resistance, are what caused us to take the long the very moment we saw red on 1m EUR/GBP (green on 1m GBP/USD). After that it was off to the races to our daily m4 reversal pivot point, and then beyond to 1.53. This video shows how interconnected all of these currencies truly are, and when you focus on any one pairing, you should have keen eye on everything technically involving the 2 currencies involved in that pairing. Tough entry, fantastic ride the 5 ema on the 15m for a 130-150 pip trade, marvelous.

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

As London opened today, the longer term 4 hour and Daily charts gave us every reason to believe it would likely be a difficult London session, since we were quite sandwiched between support/resistance on several pairings. As London was opening however, we were able to identify a price trap/triangle on the EUR/USD that looked promising if we could get a break. Using trap projections we were able to determine before ht ebreak a potential of 75 pips or so either way once a break would occurred before hitting any meaningful support/resistance to counter the move. Sure enough we did get a breakout of this trap just as London money entered the marketplace. Once the break occurred, all that was needed was a great deal of patience awaiting the high quality pullback to an overlap of several ema’s around the 50% Fibonacci pullback zone, along with correlation with the USD/CHF hitting it’s ‘Fib’ and 200 ema at the same time. In this video I break down, in great detail how we put this trade plan together start to finish, and how we then executed our entry into the long around the 1.3258-60 area. While this trade offered us a quick pip total that allowed for us to move our stop to break even, it did take a couple hours to ultimately reach our objective before pulling back half the distance it had gained into the open of the New York session. Overall the market was very difficult tonight but patience and discipline won the day, and this trade paid nicely.

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

During Pre-London we some some strength in the British Pound, the Euro, and some weakness in the Japanese Yen. While there were some very nice trade plans that followed through nicely throughout the London session in with all of these currencies in this video we focus on the GBP/JPY long, that was indeed a rather difficult entry to feel fantastic about at first. We primarily use Fibonacci, and recognition of higher low’s in this setup to identify the opportunity, and visual resistance, daily M4/R2 pivot points for our upside trade potential for profit taking. Ultimately this trade gave us a 215 or so pip profit off of an initial risk of 20 pips or so, it’s not often you have a setup with only a 20 pip risk on the pair we like to call ‘the Beast’. Great way to start off the London week!

FXBootcamp London Currency Coach-
Christian Stephens

The GBP/USD, just after the London open today, had bounced convincingly off of the daily M1 reversal pivot point which overlapped with a very noticeable 2 or 4 hour trend line. Shortly after which, a better than expected Retail Sales number from Great Britain catapulted the Pound even further northward through the 15 minute 200ema, but just shy of the next level of resistance at the time of 4320 or so on the hourly chart (200ema). These longs were very tradeable using short term confirmation, as well as a news scalp on the Retail Sales release at 4:30am NY time. However, in this video I highlight how, the GBP/USD offered one final solid trade plan opportunity for a short term long position, especially since we were topping out prior to hitting resistance. Using primarily a Fibonacci study of the entire day’s range along with overlapping ema/sma’s all over the place, we were able to setup a long plan awaiting the 4250′ish Fib zone on the charts. Our initial plan involved approximately a 25-28 pip risk for a minimum of 60 pip gain prior to resistance, with a good shot at completing an M1 to M3 daily pivot theory move, along with a 38.2 to 161.8 Fib extension move for a 100 or so pip target. All that was required for this entry was a little patience to await the entire pullback, and a 1m macd recross. Ultimately this low risk trade paid off well with around 100 pips total profit depending on exit strategy. Great way to end this week’s London session!

Have a great weekend!

FXBootcamp London Currency Coach-
Christian Stephens