FOREX VIDEO – London Session Review – February 12, 2010
The USD has been quite the bull lately and we have not yet seen any reason technically for that to cease. With the situation in Greece very tense, the Euro has shown even further weakness. With this Euro weakness and USD strength we again were looking to the EUR/USD for some further clues of continuation down. In this video I highlight how we built a trade plan starting at today’s London Session around a 40′ish pip hourly price trap, break, and then retest. Once the break occurs it was time for our favorite friend Mr. Fibonacci to step in, and sure enough he coughed up several opportunities to snag a nice EUR/USD short entry to start the day. While it took all night to really follow through, it completed its drop today of 120 pips or so from the Fib in dramatic fashion with China raising it’s reserve requirements unexpectedly, causing a strong push to the 1.3550 area which also happened to be our daily M1 reversal pivot point, Profit take time! Lovely trade.
Have a fantastic weekend folks!
FXBootcamp London Currency Coach-
Christian Stephens
Duration : 0:13:2
Tags: breakout, China, Christian, EMA, EURUSD, fibonacci, forex, FXBOOTCAMP, Index, London, M1, pullback, ride, S1, Stephens, the, trap, triangle, USD, weakness
Hey everyone, for this outlook I take some inventory of where we find ourselves longer term and shorter term for the USD. This European session is shaping up to trade against the longer term prevailing direction, this in mind I dont expect it to be an easy going, smooth move like we saw yesterday. Patience will be the key today. Good luck!! David Pegler
Euro bulls were nowhere to be found during today’s EU Summit held to discuss Greece’s debt problems. The EUR/USD currency pair fell more than 100 pips during the 4 hours between the New York open and the London close.
Hey everyone, I hope you had a restful long weekend and are ready for a good week of currency trading. For todays video my focus is the Euro Yen and the Euro USD. They are both at interesting levels, the Euro Yen is testing an important daily trend line which is going to affect our trading all week and the Euro USD looking tired at 1.40 the figure. In this video I make use of visual support and resistance as well as price action and fibs. Good luck!! David Pegler
Hey everyone. For this presentation I cover a number of currency pairs, specifically the Euro USD, Aussie USD and Pound Yen. Given that we are still largely range bound I have identified some key areas of support and resistance to keep an eye on moving forward. I hope you enjoy the video and good luck today!! David Pegler
Hey everyone, happy holidays!! For this presentation I analyze the Euro USD, Kiwi Dollar and cable. Thin, holiday conditions abound I am taking a very conservative approach to the market. Technical analysis is flimsy at best during holiday periods. Good luck today!! David Pegler
Hey everyone, being the European session before NFP I have drawn up some very unadventurous trade plans for the Pound Yen and Aus USD. Stay conservative today ahead of the jobs number!! Good luck!! David Pegler
Hey everyone, for this video I take a longer term look at Aussie USD, Aussie Yen and Pound Yen. The Yen crosses in general look very interesting, they are extremely congested and I dont expect that to continue very much longer. The Pound Yen especially is in a very clear apex of a daily trap. I hope you enjoy the video I also touch on my outlook for the equity markets. Good Luck!! David Pegler
Hi everyone, for this presentation I put together a few conservative trade plans for the Euro USD and Euro Yen. Euro Yen is trapped within a trap and I look for a nice break out this week. Euro USD is a little more involved but simple analysis nonetheless. I hope you find the video valuable. David Pegler