Forex Trading Training Video

Posts Tagged ‘5ema’

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

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.

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

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

After a solid break of resistance, and fantastic follow through on the EUR/USD during the NY open and into the rest of the NY session yesterday, we were left at resistance during the London open. Even though we have clearly been riding upwards solidly on the short term, this is a major pullback level on longer term charts. However, because it is such longer term charts, you almost know without thinking how choppy any ‘counter trend’ trade back downward would initially be. This set us up for a very difficult, ’scalp’ type counter trend mentality for London. The Eur/USD offered several 30-45 pip type trades before each nearly fully retracing it’s steps. In this video I highlight one of these trade setups that we planned in advance live in the classroom which ultimately took us to what is currently today’s low. This ‘Drift’ is likely continue for most of the day, unless the later FOMC can offer some volatility. Hey take what the market gives you, you cannot always wake up to a perfect trend entry, sometimes it’s work. FXBootcamp London Currency Coach- Christian Stephens

Just as the London session was beginning we had a few early starters making an initial break. One of these was the EUR/USD which was essentially poised to continue it’s ride south ‘riding’ the 5ema on the Daily to at least 1.5560, likely eventually to 154.50. To start the day EUR/USD bounced off a 38.2 of yesterdays range, and the hourly 21 clearly showed it was in charge. After a few lower hourly high’s we had a fresh 5ema/8sma cross on the hourly and we were off. Then it was a simple matter of loading up on the quality Fibonacci retracements offered to us. First being after the initial break at the 50% area of the last swing around 1.5640, and the latter was a sweet reload around the 61.8 fib at 3am or so 1.5608-11. The latter entry had the added advantage of additional resistance there such as an overlapping 15m 21 ema, hourly 5ema, 4hr 200 ema etc. As I am writing this we are sitting on today’s S2 at 1.5524 threatening a further drop. A fairly painless 75-200 pips depending on how you handled profit taking/reloads etc. FXBootcamp London Currency Coach- Christian Stephens

We have had some impressive volatility as of late and several pairings find themselves a little extended outside of Daily 5’s ema’s and such. As Pre-London started today I noticed we were a country mile form the Daily 5 ema we had been riding on EUR/GBP, GBP/CHF, EUR/USD, and USD/CHF. So the immediate thought was ok, let me find a reason to trade these pairings at least back to the 5ema. In this video I highlight one of these trades, the EUR/GBP, and how using visual higher highs and higher lows offered us 3 opportunities to enter a counter back towards the Daily 5ema with much lower risk and way higher probability then just blindly trying to pick a bottom which you should never do. Ultimately all of the above mentioned pairs made it back to the daily 5’s/4hr 21ema’s for a fairly sweet London counter. The primary focus this entire night was limiting risk as much as possible and letting the trade run. Have a great weekend! FXBootcamp London Currency Coach- Christian Stephens