EUR/USD had a tremendous continuation after the FOMC announcement during yesterday’s NY afternoon trading. So here we are yet again, finding ourselves opening the London session at major long term resistance for the EUR/USD. 50% Fibonacci retracement long term from the 1.60’s high, Daily 200 ema, ripe for a pullback. However, since this most recent uptrend(or long term pullback depending how you look at it)has been controlled mainly by longer term charts, any drop/pullback off the daily could be very difficult to time and manage profits on say a 15m, or hourly chart. While there were several entry opportunities throughout the night on the pair, most of which ended up in minor profit, or break even, in this video we highlight one attempt using a lower high/possible 1 2 3 reversal pattenr setup to clue us into the shorter term charts for a trade plan. This plan ultimately netted around 50-60 pips depending on exit strategy. Also, once profit was taken, it allowed one to leave a ‘peice on the table’ for what could later be a much deeper pullback. If all this sounds like too much work, well, welcome to countertrending my friend, never a dull moment and constantly fighting with where to take profits etc. But again, it was the cards we were dealt for London. All British Pound pairings turned out to be the currency pairs to play with last night, nonetheless I think it important to show how we tried to ’stick a short’ on the EUR/USD last night, while limiting risk. FXBootcamp …