The London Open - page 184
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Morning all
Erik good to see you back after a few days away...I am keeping the bear away as i keep thinking the DOW is going to pullback but i refuse to break my trend rules...
We are still selling USD and will do so until the trend is reversed.
We are all still long of CABLE from this morning and have a tight stop below the DP after banking 50% around the 1.6500 level (for some solid pips) and hopefully a lot more to come from this trade. USDCAD was also another short (selling USD again) and still holding 25%.
Stay with the trend and the pips will come. Great to see Roy and a few others long of GBPJPY as well...I wanted to double up with you guys but felt it was safer to only trade CABLE this time.
Speak later
D
How heavy do these Indices look!!!
Closed CABLE locking in the pips and waiting to see what the Indices do off the DPs.
D
As per the video I sent you today, do not try and pre empt this DOW around the 9,000 level.
Use the 4hr 20ma to your advantage and use the 123 through this support.
Its very messy out there and very easy to get caught out, so dont be tempted until the charts show you the exact entry.
D
Lawks!
You're a Guru now, a Guru Gorilla
Excellent. Congratulations.
RS
Good morning
The DOW Future holds firm above 9,000. Remember to stick to our plan and stay with trend until the silver crosses show us the reversal.
Oil is at a new high but looking at the daily chart there is heavy resistance ahead at 72.25 region.
As it stands the USD remains weak again today and we should be looking again for potential setups in selling the USD against the main currencies. I will remain this way until I am proved otherwise.
CABLE
Momentum yesterday was lost a little but as long as the trend remains positive and the CCI´s green we should be looking for positive long plays.
15min suggests we need a small pullback down to the 60min 20ma to around the 1.6480/90 area for limited risk.
The trigger should then come into play and we will have the 4hr & 1 hr 20ma in perfect order.
Yesterdays high is 1.6520 and we will need to see a break of this neckline for a stronger move higher.
Lets wait for the pullback but any break back down below the WP would signal USD strength and Indices pulling back.
EURJPY
CCI´s are positive and looking for a potential break of 135.65 for a move to the WR1 which is yesterdays high.
How close is that Wall St...
We are in early and looking for the break. If this goes ship in the USD.
D
Good morning
Wall St gave its first surge last night below the 4hr 20ma. We are short and remain short from 9060 with a stop above the high at 9120. Remember the silver cross (60min 20ma and 4hr 20ma) hasn’t crossed yet so we might see a bit of stop hunting before the sellers come back into the market over the next few days. Let’s s
BPs earnings halved from a year ago but still showing a 2nd qtr profit of 1.9 Billion GBP. Keep a close eye on the UK earnings over the next week or so.
USD index has shown life and is now trading at 78.81 above its 60min 20ma and DP. However the WP is boxing the price in. We really need this to break 79.00 for confirmation that the USD is back in business (for the time being anyway)
We still feel Indices will pullback and USD will strengthen
CABLE
We have taken the break at 1.6423 and looking for 1st target at 1.6390 which is yesterdays low (at 88) and neckline of H & S.
Looking for the 4hr 20ma to cross the 4hr 50ma to then put pressure on the DAILY 20ma.
1.6390 is key and a break here will form a lower low on the 4hr chart.
We need to be very careful as there is heavy support down at the neckline.
We will be using a rolling stop with the 4hr 20ma above previous high at 1.6465.
The 4hr trigger is retracing slightly but the 21 cci on the 4hr chart (yellow) suggests further weakness should come.
EURUSD
Again looks weak and with USD strength coming into the market.
Looking for a break of support at 1.4161 with a rolling stop above the DP.
We need to keep a firm eye on the Indices and USD X for confirmation that USD will strengthen.
Morning all
A good day with most short a mixture of GBPUSD, EURUSD, GBPJPY, EURJPY & Wall ST and long USDCAD.
The 2 trades from yesterday in Wall St & USDCAD worked out very well, banking part down at previous low at 8965 & at DR1 in CAD at 1.0890.
The 2 morning trades worked out very well with banking part CABLE ahead of MP and EURUSD ahead of WS1 at 1.4110.
Student of the day (Gary) made 255 pips and quite a lot posting 3 figure results.
Well done guys...Really well traded.
D
Looking for a big afternoon again...
USDJPY and DOW will be key.
94.00 and 8950 are the key levels.
D
Dan007,
Thank you very much for insight to the way that you do your trading, seems very interesting and good exaplanation as well...
...Please could you telll me where you got your CCI indicator, as it looks a lot better to read, or could you post it on here?