The London Open - page 108
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Nice work this week Dan -Have really enjoyed myself but was a bit miffed this morning. I was actually in E/U on the break price 1.2896 and my s/l was only 10 pips away. It was more a gut punt than real strategy. I had my chores to do and talked myself in to just walking away so I could focus!! OK, here's the rub, I close out for 21 pips. Tell Honest Bill, just wait for the retracement and I go away. When I come back at 3pm EU has gone 200 pips. Lesson; put a trailing stop on next time and then go do the housework.Anyway - come on Wales. Lets see if we can play 80 mins of rugby against Australia and come away with the victory. A 15 point margin, England losing to New Zealand and we will move to 4th place in the IRB rankings. Boys you can do it!Oval Balls Rockie
Rrrrrrrocky Rockdrive
King of the pips, Queen of the Marigolds.
Glad to see Mrs Rocky keeps you in line. Here's a little domestic tip - spray furniture polish on your radiators for that "I've been cleaning for hours" smell.
And put Rice Krispies in your car tyres for that expensive gravel drive look.
Yah boo to Wales, but hmmmm, I should say c'mon England but I do just luuuuuurrrve New Zealand rugby, and Dan Carter is playing mmm mmmmmm.
What is it about all these boys called Dan?
Great to see you in the live room again.
RS
Ok Rocky
Wales 21 - 18 Australia
England 6 - 32 New Zealand
Credit due - well done Wales.
England got trounced - shoe pie. Dan Carter missed 5 penalties, must have known I was watching him, ha ha.
RS
Thanks R,
It was a great game to watch and frankly Wales should have been out of sight by half-time. Enjoyable rugby nonetheless. Not watched E - NZ. Will watch recording later when my son's mates depart after a birthday overnighter!
That chap D.Armitage seems to be doing well.
Proud to be Welsh Rockie
Indeed Rockie...
That D Armitage is doing very well, not only man of the match in the England vs Pacific Islands rugby but also a rather splendid trading mentor too.
Now that's uber multi-tasking.
RS
Morning all
Well teh Welsh are by far the best team in the northern hemisphere..I hate to say it but good on them...
Well what a rally last week in the DOW. It looks strong and with sales up 3% on thanksgiving from last year is there a little confidence coming back into the market...Well i believe this rally could last into Christmas but i will be worried come the New Year as teh next wave could fall off a long way. Anyway lets stay positive...The market is responding well and i am in a gd mood.
GOLD is on a knife edge..Will it fall or will it rally? Looking at teh 60min chart it looks weak and the gap should close but it doesnt seem to be falling yet...Personally i would still prefer to be long of this so i will be looking for buying opportunities.
CABLE and GBP across the board looks weak again. CABLE needs to break this 1.5300 level for a move down to the 1.5200 level.
USDJPY is flatlining and that will affect most of the JPY currencies.
Not a huge lot to shout about but lets see how the morning pans out.
D
What a morning..GBPJPY and CABLE were great trades...Perfect breaks.
Pips falling off trees!!!
The London Open is back!!!! Finally!!!!
The 1000+ pip week is back on.
D
What a morning.. Attached is the cable chart after the break. Look below for the pre break.
CABLE broke down from 1.5300 down to 1.5160.
GBPJPY broke down from 1.4550 down to 1.4330.
GBPCHF broke from 1.8525 down to 1.8400.
AUDUSD broken from 0.6570 down to 0.6410.
NZDUSD broken from 0.5390 and is now at 0.5340.
Pips galore and i am loving how we look at the longer term and bring you the best setups each day.
I have been pulling my hair out in the last month and hardly placed any short term trades and today has finally given me life again!!!Bring it on!!!
Have a great morning. Remember we do two sessions now, short and sharp... 7.15am and 1.00pm..
See you at 1pm.
Dan
Morning all
Ah Markus good to see someone here...I was getting lonely.
Well GBP had one of the largest falls (5.2% in one day) since the early 90s. Def more fear out there. data is vvv poor and def mroe rate cus to come.
The ISM came out worse than expected yesterday and teh states is starting to feel the pain. How many more months of contracting can it have i ask...Hope is always there and they and us will turn it around but it will be a long slow process.
I still like EURUSD lower and think it will test 1.2000 but its all about entry levels.
CABLE has broken some serious support and my 1.42000 doesnt seem that far away now. Its going to hit it and no matter what people say GBP is moving lower. I have read too much and got spoked too many times but i cant see a recovery in GBP for a while.
EURGBP will be targeting 0.9000 come next year as well...
Hard to jump in on intraday charts today as many are oversold or overbought. Best to allow sufficient retracements and then continue trends.
I still like AUDUSD and NZDUSD lower and look for entries to go short on the 15min chart.
We made a lot of pips yesterday so not going to chuck them away today on bad setups. Patience is needed and if that means only trading 2 or 3 times per week to make good trades then so be it.
The longer term strategy is proving to be vv powerful.. I have always loved the 60min chart and it takes u away from the short term correlations that stop u out of trades.
Enjoy
Dan
PS Short OIL..I like this baby lower in a big way and can see another 1000 pips in this.
Morning all
Kids hey...Up all night and make u knackered. Got another one on the way and not sure if i am ever going to sleep again!!!
Ok Indices had a recovery yesterday which is no surprise after such big falls on monday. This is the day that i am interested in. Is the DOW going to hold or was this retracement a mere pullback before the next move down. A clear support on the 60min chart so look for support or break off this level.
Gold looks weak still and is set in a 15min triangle, so wait for a break. Any move below the daily pivot could see some profitable pips.
EURUSD and CABLE look messy but weak. Looking for CABLE to fall from here and will look to short as the 15min chart looks attractive on the downside. Wait for trigger here.
Got kicked into my USDCAD play on the break of 1.2500 last night for a solid part profit for 75 pips. Still like this higher as its holding the clear support on the 60min and 4hr chart and will remain part long.
NZDUSD looking weak as well. Been short on the way down but banked too early. Want to get in but going to wait for break of the support on teh 60min chart.
Cant touch AUDUSD at this level. Wait for break of triangle for direction but like this lower.
Still short OIL. What a trade yesterday afternoon. Hemal called that perfectly for a triple top on the 5min and nailed it again for a solid hundred plus trade.
My whole approach has changed..I was trying to be too defensive and protective of stops and in a market like this you cant do that. Look at the 60min for trends and 15min for entry. After pulling my hair out for 4 weeks on short term charts and risking very little i am now making lots of pips again by giving myself the space i need in trades. Reduce risk and widen stops and pips will come.
Starting to love trading again...Got to take the rough with the smooth but at least the misses can now have that handbag for Christmas instead of a pair of socks.
My reports will be on CABLE; EURUSD, EURGBP, NZDUSD, AUDUSD, USDCAD and GOLD and OIL.
I wont talk about them all but give you a brief outline of what to expect.
Speak later from a happy but tired Dan.
Dan
Its been a good day so far...
Lets bring on the pips this afternoon.
I feel alive after the last 4 weeks of tough conditions!!!!
Long may it continue.
D