Hi Folks
Had a great Bootcamp workshop over the weekend. For todays video, we take a look at a little spot Pound long we set up in Asia yesterday and plan a Aussie long for today. The Aussie looks prime for 90+. Price action lines up, pivots, EMA’s etc OK. All we need is a pullback.
Have a great day trading,
Cheers
Rob Helean
Student’s Question:
Volatility has lead to a difficult past weeks trading, higher than usual average daily ranges, a lot of break even trades, basically nothing of any substance. For this video, I ma going to look at the possibility we are making deeper pullbacks on the Pound and the Euro, back to Daily 21 EMA regions before further movement to the downside.
Good luck with your trading today folks. Sorry for the sound quality. Working to correct this before the next video.
Let me not say that because there are traders that have found some success by using a certain combination of indicators, but who wants to do that? Do you really want to have wait for the 20 SMA to cross the 50 EMA while the RSI is simultaneously giving a reading of 75 and the MACD is at 1 before you take a trade? I hope not because while you are sitting at your computer waiting for the stars to align I guarantee that the real traders will not only be snapping up all the profits your missing out on, but that they will also be waiting for your lagging indicators to get you in the market so they can take your money too.
Read the rest of the article about "perfect forex indicators"
We have had some impressive volatility as of late and several pairings find themselves a little extended outside of Daily 5’s ema’s and such. As Pre-London started today I noticed we were a country mile form the Daily 5 ema we had been riding on EUR/GBP, GBP/CHF, EUR/USD, and USD/CHF. So the immediate thought was ok, let me find a reason to trade these pairings at least back to the 5ema. In this video I highlight one of these trades, the EUR/GBP, and how using visual higher highs and higher lows offered us 3 opportunities to enter a counter back towards the Daily 5ema with much lower risk and way higher probability then just blindly trying to pick a bottom which you should never do. Ultimately all of the above mentioned pairs made it back to the daily 5’s/4hr 21ema’s for a fairly sweet London counter. The primary focus this entire night was limiting risk as much as possible and letting the trade run.
Have a great weekend!
FXBootcamp London Currency Coach-
Christian Stephens
