FOREX VIDEO - London Session Review - October 3, 2011

After spending a fantastic week of trending last week, we open today at very extended lows yet still within this downtrend on many pairs. So even though the long term charts are suggesting a pullback before major new lows is likely, there is still no reason to not try and continue the trend at every technical opportunity that makes sense.  In this video I focus on the very first of these chances on the AUD/USD pair that occurred during the London session (other pairs such as EUR/USD offered identical entries at the same time).  We used nothing more than simple Role Reversal, along with Fibonacci retracement overlaps to find the short zone.  Then it was just a matter of waiting for it.  In the end it turned out to be a 40-55 pip trade depending how you managed it before heading back to entry, and if you took a couple of these USD pairs similarly not too hard to have a 100+ pip London to start the trading week.  Works for me.  If you would like to check us out at FXBootcamp and learn to put these plans together with us live in class, take the free tour here... http://fxbootcamp.com/amember/go.php?r=194&i=l1

FXBootcamp London Currency Coach-
Christian Stephens

 

Views: 281

Tags: 21ema, 61.8, Christian, FXBootcamp, Forex, London, Stephens, aud/usd, continuation, correlation, More…eur/usd, pullback, reversal, risk, role, scalp, stochastic, trend, usd

Comment by lancesgreatgear on October 4, 2011 at 4:18am
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