FOREX VIDEO – London Session Review – July 7, 2010

Our day began for London trading a bit earlier than normal, about halfway into the pre-London trading hours. The USD/JPY was consistently having problems printing any sort of higher high even on a 15 minute but not really making any lower lows at the same time. Considering how bearish it has been lately as a whole, it seemed well set up for continuation at least down to 8700 zone which is long time support as well as a daily reversal pivot point. This set the table for a nice pre-London long on the Japanese Yen (short the Yen pairs) regardless of which flavor, at least until this support zone was reached. At which point we are actually looking for a likely rise in the NY morning if this region does not break in London. In this video I go over what got me looking at the Yen in the first place, and go over just one of the pairs involved in the Yen basket I traded, but you could have done similar things with any Yen pairing tonight. London session itself was only left a last wave reload and some counter trend off support trades, which turned out to be great winners themselves by NY morning. The name of the game tonight was simple.. Correlation, it was superb. FXBootcamp London Currency Coach- Christian Stephens