FOREX Training Video | London Session June 3, 2008

As the London session opened up, the Asian fade had taken the Eur/Usd down to the 1.5520 area. At first as the 55ema on the 15m seemed to take control it seemed we may be about to make some lower lows. However, with the Usd/Chf starting to break down, and the Eur/Usd 1m & 15m charts showing clear MACD histogram divergence at a 61.8 Fibonacci retracement of yesterday’s range…a nice long to the 156.10′ish area looked to be shaping up. Using fibs, pivots (daily & weekly), multiple time frame EMA’s, correlation with the Usd/Chf, and divergence clues, we were able to pinpoint some nice long entries. Both at the original break area of 1.5530, as well as a quality reload on a fib retracement around 1.5550, then onward to a nice target zone. The same trade was also available in reverse on the Usd/Chf. Depending on entries & reloads anywhere from 60-150 pips (due to reload) were achievable, that works =). FXBootcamp London Currency Coach – Christian Stephens