Hi. I have posted a copy of this weeks video here on the blog. Here I explain that some analysis I did earlier in the summer could still be valid as well as potential trades that I am looking to take (and which to avoid) in the week ahead. After last weeks emergency email that I sent out to all of you re the Gbp, please be VERY wary with ANY Gbp related pair on Monday. It could still be highly volatile and there is the possibility of some big gaps at the market open. Personally I will be leaving this pair alone until at least the London open tomorrow and I may even steer clear of it until after the USA gdp news on Thursday.

Once again there is a lot of news this week for lots of the pairs. Hopefully Thursdays extreme Gbp move will help you to appreciate why I say thay you should always consult your daily news calendar before placing any trade. Similarly it is vital that you place a stop on every trade. The Gbp fell 300 pips in the 1st hour. If you were long without a stop it would at least hurt or even wiped out your account.

I am looking for pullbacks on most pairs tomorrow. If you look at the post next to this one on the home page entitled, “Example of daily forex mentoring tips & advice that gained 150 pips” I explain a method of how to look for fib pullbacks when price is at an extreme high or low.

Erol will post a free video update on thursday (normally you have to be a subscriber) so that you can see how a USA based fundamental trader views the markets as well as the S&P, Dow and oil. Erol has been trading and teaching for many years and I would recommend you try catch some of his posts, have a great week, regards, marc

To view the video in full screen click on the you tube logo, bottom right. Please do me a favour and rate the video/post a comment on you tube.

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