Forexpedia

fxbootcamp hopes you are enjoying this 40 hour bootcamp coaching marathon leading up to the triple witching hour on Friday, we hope to see many of you during several of these sessions. We have had signs of likely further weakness in the British pound technically this week on the Daily/4hour currency charts, such as multiple Daily lower highs among other things. So going into today’s London session rising from pre-London, while profitable, kept one very attuned to the market for a reversal, or another lower high etc. Well sure enough we got just that in today’s London session as the British Pound Sterling began to dive against every other currency there is. As we had begun to reach/breach some shorter term (15m) support on GBP/USD and the other pairings, we braced ourselves for the impending Retail Sales news announcement due at that very moment. If this news were negative we would very likely be looking at a sharp decline. So in this video I focus on how we handled this news setup using Fibonacci studies after the first one minute news candle, along with price action, to wiggle ourselves into what turned out to be a nice Pound short basket across the board. Unfortunately the pullbacks we encountered were not as perfectly offered to us as we may have preferred, but with a sharp eye on price action around these levels, we were able to sneak into some of these pairs for some wonderfully quick gains. Nice session indeed, needed to be disciplined however in all facets to profit successfully. See you guys at the 3pm afternoon NY session today. fxbootcamp London Currency Coach- Christian Stephens

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

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