FOREX Training Video | London Session April 25, 2008

Today the USD was on a bit of an early warpath against most currencies just before London opened, continuing to some predictable profit taking points. This was true with the exception of the British Pound which woke up and crushed the USD. While we had a ton of successful trade plans during this London session we focus in this video on the EUR/USD. Using 15m MACD and stochastic divergence as an early directional clue, the EUR/USD finally bounced off the last 15m swing's 50% fib and broke it's 21 ema along with a very easy to see trend line from yesterdays low. Once this break occurred there were at least 4 Fibonacci retracements offering entry before the big plunge to our 138% fib extension at 1.5685. Three quite conservative repeatable entries were available over a couple hour span before it finally snapped the support around the 4 hour 200ema. After which the target was just a matter of time. Not very often do you get 3 or 4 chances to enter at retracements levels like this, pretty sweet trade here for 75-100 pips depending on which one you took. Overall was a very nice multiple hundred pip day playing around with the USD. Have a great weekend!

FXBootcamp London Currency Coach- Christian Stephens