On June 4, 1985 the Enterprise cameras focused on the international currency market. Three traders, one each in New York, London and Hong Kong, are followed through one typical day. The stress, the responsibilities and the dedication of each man is evident as they work through a day of trading in Pounds Sterling, US Dollars and German Marks.
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What a great to trade forex! Everything pointed down for the EUR/USD... Fibs, Pivots, and EMAs. All the stars were aligned for a short trade. Our target was the 138.2% Fibonacci Extension. Guess what? That was also the M1 Pivot Point. Could you have a more perfect trade? Questions is: did you plan your trade and trade your plan? Live FOREX Training | EVERYDAY! www.fxbootcamp.com
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The US FOREX Trading Session started flat for the USD, so we focused on the Canadian Dollar today. After a break of resistance, price topped out at the R1 Pivot Point for a very technical trade. Oil is at a 17 monthly low and with CAD having an 80% correlation to the price of oil, the Loonie was expected to fall... and fall it did. Live FOREX Training | Everyday! www.fxbootcamp.com
The market didn't react to PPI or Trade Balance news releases. We watched it sit in a 10 pip range for over two hours without a conservative/repeatable trade opportunity. Then BAMB! Reversals and breakouts with full currency correlation across the board. It seems that the market moved in anticipation to the G7 meeting this weekend. In anycase, another great trading day. Live FOREX Training | EVERDAY! www.fxbootcamp.com
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