Hi FX Pimp
Good luck with this thread.
I have looked through many forums and have seen the CCI used before, but not two together. It is a very powerful indicator showing trend and strong entry points.
I have never seen it used with the moving averages you have posted on your charts either.
I think I have seen your thread on FxFisherman.com - is this the same thread? Will you be covering the same analysis. I prefer not to be dazzled with advertising so will stay on this thread if you will post here.
Some more charts would be great showing trades you have done.
Lolly Pip Lady
Its dead out there.. I know a few of you like cable and eurusd down..
Yes they are setup well for a down move but GOLD is the referee. He brings the ball to the court. Patience but i can see the potential!!!
Good luck in a dead market. Its teasing...
With Crude breaking up, the GOLD rallied which means no down move on EURUSD...
Shows to be patient and follow these commodities for direction.
They are the ball players for the USD.
As someone new to trading I have a lot to learn.
The forex markets were very choppy this morning, they didn't seem to be moving far before changing direction.
Is this normal? I am only paper trading at the moment but none of my trades worked very well or got stopped out.
Am I missing something?
difficult trading conditions today, but the good news is with this strategy that Dan has developed, it can keep you out of the high risk trades and preserve your capital. It gives you the confidence to be patient, safe in the knowledge an opportunity will arise using this system and it will be a high probability trade.
Thank you Kopite
I am pleased I am not the only one to find it difficult today!
I like the look of Dan's strategy but still have to study it further to fully understand it.
Hope you don't mind me asking lots of questions
Thanks for your reply
A sneaky 63 pips out of cable was my only play of today.
Missed the EURJPY which was a bit unfortunate. No change it rates in Switzerland wasn't taken very well which gave some much needed oompf to USDCHF, which in turn saw EURUSD fall which - with USDJPY still looking offerred - gave a nice little 60 or so pip move south for the EURJPY.
I am a bit mad with the whole correlation thing. I know it keeps me out of a lot of trades but it keeps me out of far more bad ones.
If anyone is thinking 'over-analysis-paralysis', please let me know and I'll keep it to myself in future
Have a great day.
Anyone get kicked into Gold as discussed earlier today...
With GOLD breaking USD weakness comes into play...
USDCHF and GBPCHF trying to move lower... GBP is trying to stay up against the USD though....
Remember these are in and out trades... Harsh conditions means we change strategy and keep things tight.
Cako called EURJPY very well today but stayed out as no other currency pair was moving...However u must not worry if u miss a trade.. Look at the bounce off the 200ma...Thats my 60min 200ma.