Forex Trading Training Video

Posts Tagged ‘Christian’

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 …

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

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

Today was a very active session with quite a few trade plans related to the USD taking place, in this video we focus on the GBP/USD setup. We open today with the GBP/USD unable to break even the most recent 38.2 Fibonacci retracement level from the recent drop from the 1.99 area. After the Fib held we challenged today’s central pivot point at 1.9822 repeatedly on the 15m chart. Using simple support & resistance tactics, Fibonacci retracement levels, Bollinger Bands, and short term stochastic/MACD divergence, we were able to plot a very nice short opportunity targeting 1.9735 area. Quite a nice trade, helped along a bit by a lousy PMI release, exactly to our take profit zone, forming a nice double bottom. Unfortunately we did not get a Fib reload opportunity later as it turned into a full blown USD reversal from where we took profit. So be it, 90 or so pips on just this trade, with even more if you did a USD basket trade. 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

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 …

It’s been a fantastic long term trending week for the USD. On the GBP/USD we were only 150 pips or so away from long term visual support we had identified months ago at 1.8512. As London began we found ourselves in a simple price trap with lower high’s and no lower lows. All that was needed was a little patience awaiting the break and a plan of attack. Whether you took the actual break, or the Fibonacci retracement after the break, you were rewarded with a rather painless 130 pips or so. If you were on top of things there was one sweet reload opportunity around 1.8590 as well. In this video we also discuss how after taking profit at 1.8512, using other methods of confirmation we were able to long the same GBP/USD at 1.8530 area. This ultimately amounted to another 130 pips into the NY session. Fantastic finish to a very technical week, enjoy the weekend 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

We had a nice bounce on the Japanese Yen pairings during pre-London up to the hourly 21 ema’s. Quite nice to see after literally days of a pure drop. In this video we set up from start to finish a nice little triangle breakout formation on the shorter term time frames with the GBP/JPY. Using a simple Fibonacci study after the break occurred offered up a low risk (30′ish pips), high reward (120-140′ish pips)setup to our projected top back at the hourly 21ema. Sure enough we bounce right off the 38.2-50% Fib zone and proceeded exactly to our target before reversing. 120-140 pips depending on entry/profit taking for all of 8 minutes work, Gotta love the FOREX. FXBootcamp London Currency Coach- Christian Stephens

Asia into London found us simply continuing the recent Japanese Yen strength against all comers. While shorting any of the Yen pairings was very viable, in this video I highlight how we built a trade plan around shorting the Eur/Jpy just after the London market opened, which ultimately reached our target of today’s M1 reversal pivot point. This completed a 38.2 Fibonacci to a 161.8 Fibonacci extension on today’s London trading, daily m1 pivot point, and overall 78.6 Fibonacci retracement level on the daily chart from the low two days ago. All of this overlapping support made it an easy profit take at this point, we will see what happens after the NY morning. Fitting end to a fantastic week of trading, have a great weekend! FXBootcamp London Currency Coach- Christian Stephens