FxBootcamp

FOREX New York Session Video December 20, 2007

The GBP/USD downtrend shifted into high speed yesterday after the minutes from the prior meeting of the Bank of England's Monetary Policy Committee (MPC) revealed a dovish tone from the central bank. What the pound exhibited during the first half of today's New York session was a classic move commonly seen in a strong downtrend – a bounce at the 21 ema, followed by a cross of the 5 ema and 8 sma. Conservative traders who subsequently took the short trade entry at the 5 ema netted at least 55 pips at London close. The move on the EUR/JPY which coincided with the open of the U.S. equity markets produced a similar level of profit.

FOREX New York Session Video December 17, 2007

U.S. news during the first hour of today's New York session failed to inspire the major currency pairs. However, today's moves in global equity markets hinted at the possibility of a down day for the Dow, suggesting a possible trade opportunity among the yen crosses. Using the EUR/GBP cross as a guide, we identify the EUR/JPY as our top candidate for a profitable short trade. Although an uptrend support line (identified using the 4-hour chart) seemed to hinder downward progress, the Dow open did provide enough volatility to enable traders to eke out between 15-25 pips of profit.

FOREX London Session Video December 17, 2007

After Fridays huge USD strength play across the board, the EUR/USD retraced to a 21% fib, and off the hourly 21 at the beginning of this week's thinner London session. This provided a nice short EUR/USD entry off the 21 ema, or slightly after with shorter term chart confirmation & opening BB's on the 15 minute chart. A nice steady 'ride the 5 (ema)' took place pretty much all night on both the 15m and hourly chart. The EUR/USD eventually hit the 4350 area which is a 38.2 Fibonacci retracement level of the last uptrend that just began in August 07, and we knew this could certainly provide support. After dropping about 20 pips further the pair then showed us a 5/8 cross on a 5min, followed by other clues that the trade was done. Not a bad 70-120 pips depending on entry/exit on a thin market night, more if you took some other USD pairs at the same time.

FOREX London Session Video December 14, 2007

After some some nice downward movements yesterday following the better than expected USD PPI release, the EUR/USD consolidated into a bit of a flag continuation pattern. Once the London money entered into the market the 15m bollinger bands opened up and the EUR/USD started heading up from the bottom of the flag channel. However, it was clearly headed right for a brick wall full of an overlapping resistance. Things like a 50% Fibonacci retracement level of the previous days move, Pshycological level at 4650, top of the Flag channel, daily central pivot point, weekly central pivot point, as well as a few other EMA's and things. This provided for a fantastic low risk high reward trade plan setup around the 4650-55 area playing the bounce, the downside targets were well enough pips away to make it clearly worthwhile. All we had to do was wait a couple 15m candles for price to get there. As you can see in the video, price bounced to the pip off 4655 and blew away all expectations of targets dropping all night long for around a 250 pip gain for most of the FXBootcamp members. The GBP/USD, AUD/USD, and several other pairs did very similar things to provide an overwhelming amount of USD strength pips for anyone with their hand out. Just gotta love nights like this.

FOREX New York Session Video December 13, 200

Starting from the M3 pivot point at the open of today's London session, the EUR/USD had already reached M2 when U.S. PPI and retail sales news was released during the first hour of today's New York session. Although both reports were dollar positive, the euro seemed initially reluctant to respond. Traders who remained patient and disciplined eventually saw their efforts bear fruit. Those who held the trade after recognizing that momentum had kicked into high gear, then took profit at the S2 pivot point, walked away with more than 60 pips.

FOREX New York Session Video December 11, 2007

Since the AUD/USD had been dropping for hours during early trading today, more of the same was certainly a fair assumption as the New York session approached. An analysis which combined moving averages, Fibonacci retracements, and pivot points suggested that conditions might be ripe for an Aussie reversal. Traders who were seeking a long trade found confirmation of the bounce on the 3-minute chart. An exit at the first target, set at a psychological level near the R1 pivot point, would have netted about 60 pips, but a mid-session retracement was severe enough to end the trade at a more modest gain of 20 pips. A short trade on the GBP/USD during the second half of the session fared better, as weakness in the British pound across the board finally took its toll on the cable.

FOREX New York Session Video December 5, 2007

During its relatively brief history, the ADP report has been both volatile and a poor predictor of the initial estimate of non-farm employment from the Department of Labor. The figure for November, released soon after the open of today's New York session, was simply too high for the market to ignore, as the dollar gained strength across the board. The EUR/USD, like the other major currency pairs, provided an entry on a retracement during the second 3-minute candle after the news. A simple Fibonacci study helped traders predict the first target zone for the subsequent move below the 4700 level. London close arrived with a 5/8 cross before the euro reached our ultimate target at the M1 pivot point, but a profit of 40 to 60 pips [depending on exit strategy] on the eve of two central bank rate decisions, made for a fine session of trading.

FOREX London Session Video December 3, 2007

After some early upwards movement on the GBP/USD, EUR/USD, and even GBP/JPY, a quick reversal took place offering the prepared a nice couple hundred pips if all were taken advantage of. In these trade setups we use 5ema/8sma crosses, stochastic crosses, 21/55 ema crosses, bollinger band clues, as well as bounces off key areas such as Fibonacci retracement levels. While there was no real 'follow through' to our intended targets, just by moving our profit stops we were able to bank the majority of the moves. Nothing wrong with protecting profits =) While the video shows these setups, there were a few other similar ones during the session with EUR/JPY, GBP/CHF and a few others. Come join us in class to learn how to spot these moves before they occur.