Todays video is an update of the trades plans from yesterday which are still very much in progress. Rob Helean

Hi everyone. Today’s video is an update on where e are at on the pound, short/medium/long-term. Also a piece on the Aussie. It could go either way. I am happy for see it do this. Waiting for the Aussie Employment news to show me the way. Good luck today! Rob Helean

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

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

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

While we continued to short the (insert your favorite yen pair here) during the Pre-London and into early London sessions, we found ourselves reaching an important area of support on the USD/JPY not too long after the London open. Even though everything on the Yens looked to continue to the downside, this support was very close to the big psychological level of 90.00, along with a multitude of overlapping support (Long term 78.6 fib, trendline, S2 pivot, etc.) all being struck just after a major market open. While we did not expect any kind of instant reversal, there certainly were reasons to look for clues of profit taking around this support and possibly translate that into some short term longs on GBP/JPY. At least until we could find dynamic resistance to re short the thing. So in this video, I highlight how we took profit on our original short pre-London, longed off support using a higher low for entry, took profit around 50 pips and re shorted for 50 pips, only to long a 15m Higher Low again, and shoot for more pips to the upside. It was a difficult session to hold onto anything but if you were nimble the pips were there for the taking.

FXBootcamp London Currency Coach-
Christian Stephens

After yesterday’s fun selloff of the USD during London, we began pre-London today well extended on our Daily charts. The GBP/USD, EUR/USD, AUD/USD, all a country mile from their Daily 5 ema’s respectively. While this alone is not a reason to enter a trade back to those levels, it certainly makes it difficult to continue our USD selling until either support catches up to price, or more likely, a pullback to near those levels ensues. So in this video I show how I built a trade plan to Short the GBP/USD and EUR/USD back to support, and reload this trade on subsequent shorter term pullbacks, along with profit take zones. I would not classify these trades reversals, but merely a shorter term scalp back to support, where most of us were eager to relong them (or short the USD again). With reloads added in on multiple pairings, it was actually a very solid overall pip day if you caught these.

FXBootcamp London Currency Coach-
Christian Stephens

As the pre-London session ended today, and we ere taking profit on our GBP/USD and GBP/JPY shorts at support, our attention quickly turned to the London Open. Here we are yet again, at support on these two pairs Right as the London market opens. I prefer to not counter trend, but when you find yourself at support across the board at a major market open, it’s hard not to look for clues of buying off this support, I mean who wants to short at support right? In this video I zoom into the GBP/USD and cover as clear as I can the how’s and why’s of this counter trend Long trade plan. It became a simple matter of awaiting a higher high, then locking in break even, done deal, no risk trade then. After that we moved on about our business on other trade idea’s while the pair slowly inched it’s way to our target over the next few hours. Eventually we nailed our target for a 60′ish pip counter trend trade, and even found reasons to short at the beginning of London lunch. No real major news releases tonight led to a very predictable onslaught of ‘Technical’ trading, the money truly was made in the waiting tonight, on this trade shown as well as several others.

FXBootcamp London Currency Coach-
Christian Stephens

Today’s London session was extremely tedious and difficult. Quite a few of us experienced +15-25 pip trades come back to stop us out at break even or just slightly in profit. Essentially we had zilch for follow through during these 3 hours. However, there was one highly probable area of support showing up for the Japanese Yen pairings around 4:30am NY time, right in the thick of London’s market. In this video I demonstrate how we substantiated this support on multiple time frames, which means more traders are seeing the same thing, and subsequently built a trade plan after some short term higher low confirmation, to long the Yen pairs. Specifically in this video, the Eur/Jpy. Now the risk on this trade was just around 11-13 pips, while the conservative first target was only 36-40 pips away around the 132 region, 3-1 reward vs. risk ratio which is not terrible. The steady higher low’s on this trade allowed the confidence to stay in the long and keep moving ones profit stop under these lows. Now while this trade was a successful 40 pip trade or so, as luck would have it some positive JP Morgan news came out during the London lunch, and whammo a 40 pip trade was 125 pip trade in a blink. Had this news gone against we simply would have been plucked 20 pips positive or so due to a lower low. So while we have absolutely no way to know if a pair is going to reverse or not, this trade setup shows you how one can enter into a high probability setup, and should go a long way in helping some of you to leave some profit on the table if charts warrant it.

What was a yucky London, ultimately was a great London lunch finish.

FXBootcamp London Currency Coach-
Christian Stephens

Today we found ourselves hitting support just as the London market opened while were were still in the midst of a solid 4hr/daily downtrend on cable and the yen pairings. While there is no reason to think the downtrend is over, the charts were certainly showing many clues of needing to hit some upper support, such as the 1hour 21 ema or daily 5ema, in order to continue it’s strong downtrend. So throughout London we adopted the ‘Scalp up, so we can Spot trade down’ mentality. In this video I focus on just one of these trades we took as a countertrend scalp, which made as much as around 45 pips before stopping us out at MAP (minimal acceptable performance) of 15-20 pips. The rest of London ended up being a nasty range until London lunch, looking very much like we will have some strong entries south sometime during the New York session as the hourly 21’s are nearing price action. It was an extremely difficult London session that required intense patience and discipline. Difficult, but still there were pips to be had, even if follow through was non-existent.

FXBootcamp London Currency Coach-
Christian Stephens