Forex Trading Training Video

Posts Tagged ‘21ema’

With the USD being a bit rangy today working our way to today’s FOMC statement, we focused our attention on other currencies. While the Yens rocked the house, we also had a solid plan setup for the GBP/USD for a long off previous support, as well as ema, and weekly central pivot point overlaps. This is a pretty typical setup all the time for us but what made today’s long rather difficult was that major British news, in the form of GDP, was due out. Normally not a problem, just wait for it to come out and then trade right? Well when you have very high confidence in a Technical setup that you wait several hours for, and that entry finally arrives two minutes before a major news release… Well let’s just say one can become conflicted. Not taking the trade means you did not trade your plan and you will kick yourself when the entry does not return. Taking the trade prior to news could result in a very fast 40-50 pip loss which may also cause you to kick yourself for trading so close to news. This is one of those situations which is a personal choice and can be stressful. However, once you have traded for a good bit of time, you will surely discover that the best technical setups often Do occur just prior to news releases, go figure. Ultimately one must make their own decisions and stick to them through thick and thin. In this case our plan worked out tremendously well as the GDP came out in our favor and boosted us directly off our technical level for nearly 150 pips, not too …

Today was fun from Asia into London and just kept getting better. The EUR/USD finally broke the 1.4150 zone and it’s recent 4hr price trap which gave us permission to put together bullish plans for the remainder of the day. Also, the GBP/USD, while also initially long from Asia and London, finally reached some nice crystal clear Overlapping resistance at 1.6150 zone. Weekly Central Pivot point, Daily R2 Reversal Pivot Point, long term role reversal, 38.2-50% long term Fibonacci pullback zone, mid point psychological level, Daily 21ema, EUR/GBP breaking it’s trap to the upside, weak USD… You name it, it was overlap central of resistance reasons. Not only did we put together a shorter term scalp short, but also a much more conservative Double Top entry that continues to dive as of the making of this video. Patience paid off today, and likely will reward even more in the days to come. Have a great weekend! FXBootcamp London Currency Coach- Christian Stephens

Today the USD/CHF, which has started showing a series of higher lows and higher highs on the 4hr chart, approached a previously broken area of resistance. Also a rising trend line happened to overlap with this horizontal resistance, which gave us reason to look for role reversal and support at this zone around 91.35-40. During the London session we started showing support and failed lows around this zone on 15m and below charts so it was worth a shot in mid 91.40’s with a 25-30′ish pip stop loss, targeting first the daily central pivot point at 91.85 followed by 92.25 zone, and possibly a long term target of 93.50. Go Swissy! FXBootcamp London Currency Coach- Christian Stephens

I was quite caffeinated tonight as have been trading sort of around the clock with the FXBootcamp marathon this week, which in turn led to a much longer than usual video so get comfortable in your chair, I apologize for the length. Due to this I will let the video speak for itself. Simply put we had an Asia fade into a London open role reversal long off support with a reload to resistance. Been a powerful day yet again, glad to see London back in form. FXBootcamp London Currency Coach- Christian Stephens

As London opened today we bounced decisively off of the recent range high, which was also today’s M4 reversal pivot point in the 1.4770’s area, and found our way all the way to the bottom of the range in the 1.4640’s region, which has been clear support for days now. In this video I show how we developed a high quality short trade plan after a Fibonacci pullback to the 1.4690 zone where not only the 38.2 Fibonacci retracement sat, but also the 15m 21/55 ema cross there, today’s Central pivot point at 1.4693, the hourly 5, essentially quite a bit of visual resistance overlap. While all of this overlap does not by itself in any way guarantee a drop again, it does stand to reason that GBP/USD bears would find more than a few reasons to take another shot short right there. All that was needed then was a little patience to await price action to work it’s way there, and once it did, all it took was a flash of red on a 1m candle to get us into the short targeting at least a 65 pip or so reward for maybe a 15′ish pip risk, 4-1 reward vs risk, very nice. We quickly found ourselves in profit around 30 pips which offered a perfect opportunity to protect break even, and let the trade continue. As the video shows, in due time we did indeed find ourselves showing hesitation at the hourly 200 ema, and not far off from the weekly central pivot point. Reason enough to snatch up the 60 or so pips we worked hard to extract on this successful trade plan, and with the rate announcement not …

www.swankymarkets.com 3289 Pips Profit this Week. What a week, price just went nuts. I did say at the start of the week I was expecting lots of movement and violity. It is very hard this week to put a number on the amount of pips my outlooks made. We know we made 1000s, but we did not get the pullbacks to logical levels, and price just kept on going, I did show you during the week what to look for on smaller time frames to get you in, but I dont know how many of you did do that and got on at which levels, so I can only count the pips I know you made from my outlook videos. And I have even taken a third off of that figure just to be even fairer. I cant be fairer than that.

The British Pound Sterling opened today’s London session looking very tired to the upside, showing things such as continuous lower highs on the GBP/USD, and higher lows on the EUR/GBP. The ‘Cable’ seemed almost destined to tag it’s 4hour 21 day exponential moving average, all we needed was a reasonable trade plan, and entry criteria with a proper risk vs. reward ratio to get us in, that we could live with. In this video I highlight in great detail, how what we spotted on the daily and 4 hour charts at first, led us to identifying a quality price trap on the 15 minute intraday chart at the London up. Then ultimately used one final lower high on a small 1 minute chart to prove our direction, build a plan, and take a Fibonacci pullback after the break of our trap for some nice pips. There was indeed volatility today, and one’s total success certainly depended on profit taking practices. However, we did indeed ultimately reach our price trap projection, along with the 4hour 21ema before a solid round of profit taking began. Patience and discipline were the key here, while a price ‘chaser’ would have gotten creamed today, the pullback trader became well fed. 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

Pre-London today started off rather choppy and uneventful. However, as the London open approached we found ourselves nearing an overlap on the EUR/USD of a Fibonacci pullback zone, previous area of support/resistance, hourly angled 21 ema, and 15m 55ema. This offered us a nice opportunity to build a 50-75pip trade plan with a 25 pip’ish risk, to around the S2 reversal pivot point, which was shaping up to give us our entry exactly at the open. Sure enough this overlap proved fruitful and gave us a quality trade entry. Ultimately, as shown in the video, we started to show signs of the end after we tagged neared the S2 pivot point, end result 40-50 pip trade to start the day, not too shabby. FXBootcamp London Currency Coach- Christian Stephens

After yesterdays whirlwind of a London session, today was more about longer term pullbacks. We had a few nice setups in class on the EUR/USD, yen pairs, and AUD/USD. In this video we highlight one of the plans we put together that ultimately hit our 1st target of the 4 hour 21ema perfect for a nice 135ish pips depending on entry/exit. Overlap was the theme for this setup. We identified resistance to start the night and set an alarm. Once alarm was triggered we went back to aud/usd and tossed up a Fibonacci study looking for a high quality pullback zone. Sure enough the 38.2 Fib was overlapping with the trendline on the 15m chart, as well as the hourly 5ema. This provided a quality 35 pip risk or so trade for potential 140 pips, nice risk vs. reward. Pretty technical night for London bootcampers. FXBootcamp London Currency Coach- Christian Stephens