Not really much action going on right now. Interest rates out in line with expectations and GBP was a little surprise with the move teat developed, as mentioned in the training room I was anticipating a move down to range support lows at 1.6900 level but not a move through it… a distinct lack of follow through just like post news moves earlier in the week. For me ATR done on this cross rate so I’m looking for a more significant retracement to at least 50% of toady’s price action before committing to a new trade… letting the potential come back in my favour.

Euro and Swissy showing aggressive range reversal set ups and conservative entries just about to set up but not triggered yet. break outs are also still an option here. Although given the time of day doubtful we will see too much movement ahead of tomorrows NFP release.

The only other pair that is setting up for me is EURJPY with a break out.. so far one break even trade and looking for a re-entry.

3 trades so far today 1 stopped out for BE 2 open and managed to break even so the only thing I’m loosing so far today is my time invested in these trades, and to be quite frank I didn’t really expect anything to set up at all today.

Most likely I will see price continue to bounce of current S/R levels until post new tomorrow.

Not banking any profits (at least not yet) but at least I’m certain not to loose any money today.

Hi Folks,

Interest rates out today and NFP tomorrow.

UK and EU Rates are expected to remain the same so it would be fair to assume that I’m not going to see too much excitement today at all. My thoughts in a nutshell are that reports are suggesting economic stability so a rate change would rock the boat at this stage when we are still in the eye of the storm.

Most likely little or small movement post news today and all eyes will be on NFP tomorrow. My pre-news rule kicking in shortly which is if I’m not in a trade prior to new (about 2-3 hours) then I’m not looking for a new trade until after the news. Consolidations keeping me on the side lines in any case and I’m anticipated being on the side lines still.

Gm Folks,

I’m a little bit late getting Mondays video uploaded today… its a little bit of a long one so get a cuppa at the ready when you watch it.

As usual running through the cross rates to see what looking hot and whats looking not so hot for the day ahead.

Happy Trading Phil

Phil

Hi Folks,

Today’s video probably fall more under the trading tips/tutorial section more than anything as the main thing I highlight is the types of things that I try to do prior to a new days trading session.

Ultimately what I’m trying to do is think about “what could happen next” and try to come up with scenario’s relative to my trading plan and the things that I look for leading into a new trading set up.

At all times I’m trying to answer 3 basis question;

1. Where is price now?
2. What is it doing?
3. How can I get involved, if price goes up, down or sideways?

Have a good days trading

Phil

HI Folks,

Todays Forex Video showing my trading plan for the day ahead on most of the cross rates that I’m looking at.

Happy trading

Phil

Hi Folks,

Taking a look back at the days trading and comparing what was expected and planned for to what actually happen… pretty dull day couple of break outs couple of Fib set ups… several hundred pips in the bank across AUDUSD GBPUSD CADJPY USCHF GBPJPY EURJPY EURUSD AUDJPY

Hope you all had an equally boring day

Hit the reset button now because I’m doing it all again come tomorrow morning.

Happy trading

Phil

Hi Folks today’s video takes a look at EURJPY and GBPUSD… both showing vastly different views.

EURJPY channeling and trending down so looking to sell the rallies in a down trend

GBPUSD confirmed a consolidation yesterday and once again on the sidelines until price gets to an interesting level in relation to that consolidation

Happy trading

Phil

Hi Folks,

Updated direction bias video showing the potential direction bias’s that are developing for me for the week ahead and the trading plan that I’ll be using to get on to some trading set ups as they develop and unfold for me

Enjoy

Phil

Come and see me on Wednesday for my weekly presentation here on FXStreet.com I’ll also be presenting on Thursday 22nd for an extra special monthly webinar

Hi Floks,

I hope you dont mind me being a little lazy with this post as I didnt have time to post each item in real time as I did on my own website.

But there is a good video and a nice running commentary of some trades on the video and static charts of the late evening trades that developed on the pairs I have been trading today.

Enjoy

Phil

Hi Folks,

Looking forward to Mondays trading and the week ahead as always. Thinking about the scenario’s that could unfold for me and thinking about a plan of action to trade those scenarios based on my trading plan.

Enjoy

Phil

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