The London Open - page 100
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Anyone else suffer from 'tunnel vision' when trading? I was sitting watching the Dow, waiting for it to break then setup for a long. All the time a perfectly good setup short was there for 100 pips. Trade what you see and all that.
Mr Bloom;
Happens to us all - hovering finger is what I call it. Yesterday, I was snappy and today I am back to my usual relaxed self. State of mind is crucial and the tunnel vision will diminish as the old confidence comes back in to play.
Good on the bike; scrump some apples; sink some beers; whatever it takes. Chill and relax.......and tunnel vision will fade away.
Bifocals Rockie
Cheers Rock, your words always help.
Know exactly what you mean Bloom ... just sat watching the Dow close with a couple of people in the monkey chat, waiting for the profit taking to give us a little bounce up. Wasnt till afterwards that someone pointed out joining up the trendline of the highs of today really only meant shorts were on... Watched it freefall from the weekly pivot for 500pips, looking for that elusive long bounce or at least a retrace to join the ride down south! Poor ftse and dax futures didn't know what hit them as they got dragged down to S3.
Still, I'm not complaining - managed to hit my daily target, having consistent increases for the last couple of days.
Onwards and upwards! (... though, apparently not for the Dow just yet!)
Cautiously content Spitfire
Hi
Good morning ladies and gentlemen, I trust you are all well.
We have seen some continued selling in Brent Crude yesterday testing the $70 level. On the hourly chart, it seams that it may be finding some support at the weekly pivot. A break of the small support line at $71 may see a continuation play. Alternatively if we see a break of the 15 min 50 ma we may see a play north testing the four hourly 20ma.
Gold look like it is in a channel between $856 and $830. On the 5 min chart it looks rather week and seams that it wants to re-test the $836 mark.
Cable as created a double top on the hourly chart and doesn’t look like it want to go much higher. We have some support with the weekly pivot just below. If it can break through this at 1.7200 we may see an opportunity for a medium term position, re-testing the lows of 1.67. For a long position, look for a break above the four hourly 20 ma.
EURUSD has seen an early move testing S1 and could be creating a double bottom on the 5 min chart. For a short we are looking at the break of s1 for a short position or a break of the 15 min 20 ma for a long. In my opinion, it’s one to stay away from until we get a clearer setup
Have a great day.
Dan
Morning all
Gorilla is in a good mood today and looking forward to the weekend.
Crude has recovered some of its losses from yesterday and looks rather bid. If it breaks the resistance line from the previous two highs at $70.50 we may see a play up to $71.50 as a first target. Alternatively if it breaks the daily pivot at $69 and does a 123 move we may see a play south re-testing the lows at $66
Gold has moved aggressively over the past twenty four hours and is finding a bit of support of the support line from the lows at $786. If it holds this support we may see a play up to $813. If it breaks the support line we may see a move down to $785.
EURUSD is in a triangle on the 15 minute chart. We are in a down trend so a break of 1.3420 and a small 1234 move may see a play down to 1.3325. The upside potential is limited due to the fact that the four hourly 20 ma is just above.
GBPUSD has some immediate resistance at 1.7350; so look for a break of this before taking a long position. Alternatively, a break of the daily pivot at 1.7280 may see a play down to the weekly pivot at 1.7200. It could go either way at mom and know many traders short and many long so hard one to call.
Have a great day.
D
Captain Pugwash returns from an intrepid day on the Solent. A wonderful day of light winds and sunshine taking us rapidly to a suitable hostelry on the Isle of Wight. A magnificent lunch and plenty of juice (black stuff with an thick creamy head....) to wash it down, while waiting for the tide to faciliate the homeward journey. I finally arrived home at 10pm. A really great day out.
Its one of the most amazing reasons to trade and realise that with success you can start having the time to do some really nice things; when all around you are peddaling the 9-5 hamster wheel. Vive Le home trading.
Hopefully, my fellow pipsters were raking in the pips in my abscence....and we are all looking forward to another profitable week.
Monday bright and early............
SeaSalt Rockie
Captain Pugwash returns from an intrepid day on the Solent. Its one of the most amazing reasons to trade and realise that with success you can start having the time to do some really nice things; when all around you are peddaling the 9-5 hamster wheel. Vive Le home trading.SeaSalt Rockie
Well, ahoy there sailor boy
Glad you had a good day pirating on the high seas Rock, you old sea dog you.
Hey, don't mock us hamsters, we are pedaling very hard to get off the wheel, and I assure you the wheel of fortune it is not. I am aching to get back to my trading.
I am still "with the programme" as you so eloquently put it in one of your earlier posts, and I am digesting everyone's words of wisdom, I'm just not around to trade when all you other peeps are trading.
But, I'm really pleased you are all making quadzillions of pips. I'll be the shy new girl when I get back
, I hope you will all hold my hand.
So keep talking all of you, I am listening but surprisingly for me not yakking on all day.
Have a great week pipping.
RS
PS What's the definition of an optimist?
A City Trader who irons 5 shirts on a Sunday.
Well, ahoy there sailor boy Glad you had a good day pirating on the high seas Rock, you old sea dog you. Hey, don't mock us hamsters, we are pedaling very hard to get off the wheel, and I assure you the wheel of fortune it is not. I am aching to get back to my trading. I am still "with the programme" as you so eloquently put it in one of your earlier posts, and I am digesting everyone's words of wisdom, I'm just not around to trade when all you other peeps are trading. But, I'm really pleased you are all making quadzillions of pips. I'll be the shy new girl when I get back
Keep grinning my little hamster........look forward to hearing back.
Oh by the way I have sold my shirts.....to help keep the economy moving.
All the best,
Pipsters;
After a good run of form on the Black stuff I finally got a kicking. Was trading a short crude and the sucker jumped 100 pips in a candle, just to let me know he was still in charge. Got stopped completely for -100, a full stake and not something I was too happy about. Ouch, in fact big ouch!!
This came on top of a rather unpleasant slapping from his mate D Jones Esq. Got hit quite hard on a reversal playing here to and clipped for nearly 60 pips.
I finished this evening with two cheeky trades short swissie and long cable, collecting 25 pips total. I ended the day at +27, but with the thumping from the Prince of Darkness at full stake my account got tanked a fair bit.
Nevermind you can't keep taking Crude and Dow for granted. I had a good run of fortune and now back to reality.
Frazzled Rockie
Morning all
Brent Oil is trying to pullback after falling to a low of $67.00. The Daily pivot is still below the weekly pivot but the 60min 20ma is above the 50ma which is a bullish sentiment. If it can hold the 60min 20ma then there could be a bounce, if not look for the break of the 20ma towards teh 60min 50ma (150pips lower)
Gold is in a clear triangle on the 15min chart. It looks weak at mom after retracing back to the pivot and it is starting to fall off as we speak. Look for the break of the support around the $791 level.
EURUSD had a powerful move down yesterday after a solid retracment back to its 50ma.The downtrend is most certainlyback on but i dont like to enter so far away from my 60min 20ma so i might be patient here.
CABLE fell from the 1.7500 level down to 1.7100 yesterday and again looks weak. I am still targeting the 1.6500 level for a longer term play. The 60min 20ma still needs to catch up so i need to be careful on any shorts here this am. It will come but be patient.
Have a great day...GOLD looks best at the moment (in the triangle) as probability in the others are too much against us...
Cheers
Dan