FOREX VIDEO – London Session Review – August 12, 2009

September 13, 2010 by  
Filed under Videos


As we approached today’s London market open, we found ourselves in a nice continuation short on GBP/USD and GBP/JPY from a late pre-London entry. However, exactly as London was opening we found the GBP/JPY sitting exactly on the daily S2 reversal pivot point, along with also sitting on the weekly S2 reversal pivot point. How often does that occur, not often right? Anyway, we also were sitting on a trend line support for the USD/JPY (daily chart), along with GBP/USD at it’s M1 reversal pivot point. That’s a very large amount of support to be sitting on just as London money enters the market. So as bearish as we had been prior, the charts were screaming at us to at minimum take profit on our shorts, possibly waiting for a reload later. With the support being so perfect at the open, it also begged for some counter trend scalp action if one was up for it. I do not like to make a video on a counter trend play, as I believe when a trader is first learning consistency, it just should be avoided. However, as one gains experience, there are some nice opportunities, such as this one, that often present themselves. So in this video, which turned out way longer than I would have liked, I focus mostly on how we took counter trend, reversal type entries on the GBP/JPY and GBP/USD off support, both for quick scalp profits exceeding 50 pips each, along with a 100+ pip entry on GBP/JPY afterwards. Today was a crazy day with a higher quantity of entries than normal, both counter trend, and

Comments

9 Responses to “FOREX VIDEO – London Session Review – August 12, 2009”

  1. arseneremy on September 13th, 2010 7:30 pm

    Great job of explaining how a trade difficult. I’m getting much better trend counter trading.

  2. kjguest30 on September 13th, 2010 8:04 pm

    Hi Chris, thanks for taking the time to put this v? Deo at a time. Some great things in her

  3. dfcanasvideos on September 13th, 2010 8:34 pm

    2 videos more of this length and lol DVD is not his. Great amount of interesting Chris to ask the time that took. (; & lt;

  4. dealbaedgar on September 13th, 2010 9:13 pm

    Great MENTORS!!! Congratulations. . .

  5. pwlco1 on September 13th, 2010 9:27 pm

    Very well described. Thanks for all the dedication.

    Patrick

  6. coxyj1 on September 13th, 2010 10:17 pm

    thanks good vid

  7. cool70200 on September 13th, 2010 10:59 pm

    good video

  8. rnp1thx on September 13th, 2010 11:05 pm

    We learn so much from you guys!

  9. dsturch on September 13th, 2010 11:11 pm

    Nice Christain. I like how you describe the logic and reasoning behind your trading. Very clear.