FOREX Video | New York Session | April 10, 2008

This is a great lesson on Support & Resistance. We went back 6 months on the EUR/JPY and traded the S&R on today's 1 min chart. The levels still worked amazingly well... not just today, but the last three days. We also caught a good Fibonacci scalp trade for 50 pips based on this logic. USD weakness, EUR/GBP up, EUR/CHF down. So we shorted the USD/CHF 38.2% retracement and cashed out at the 161.8% extension.