The London Open - page 122
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Good morning all
It was all about the JPY´s this am and the pullbacks.
USDCAD - Short at 1.2420 - Banked at 1.2396 and 1.2400
USDJPY - Short at 90.35 & 25 - Banked at 90.10
CABLE - Short at 1.4865 - Banked at 1.2820 & 1.4820
EURJPY - Short at 119.60 & 119.30 - Banked at 119.00 & 118.90
GBPJPY - Short at 133.95 & 133.60 - Banked at 133.75 (75%) & 134.00 (25%) (Hungry - should still fall when cable drops but craving my breakfast)ç
See u later...
Good afternooon
Just took a cheeky short from support in USDCHf and banked for 45 pips.
I have built a little short in GBPJPY...Might get this wrapped around me as CABLE is supported. Need CABLE to break 1.4900 and then GBPJPY will hopefully go. Support at 134.75. Will hit again on break.
Lets see..A friday cheeky play!!
D
Hi
It was a cheeky end to the week...
102 pips in the bank for my last trade in GBPJPY. Many made over 100 in CABLE as well. Great trading team.
Finishes another strong week.
Have a great weekend and see u at 7.00am on monday.
Dan
Hi Dan,
Great trading this week Dan, well done to all the team. To anyone reading this thread who wants to learn to trade with confidence, and have the back up of some great genuine traders, then get in contact with Dan. Friday afternoon finished with a couple great trades on Cable and G/J, many in the room taking over 100 pips.
Looking forward to next week - have a great weekend all
Chris
Hi all
Really glad that a few of you are posting on this thread...Please keep it up and post results and examples of trades etc etc..I am sure it will really help the newbies who are starting out..
Beautiful day here. Wife back in london so went Go Karting with James...Do wind him up on monday as he was 1 1/4 seconds slower than my fastest lap...All he saw was the back of my head!!! No competition really... hahahaha!!!
Awesome track down here...
See u monday.
D
Afternoon Dan
Glad you get some time out to enjoy yourself.
Perhaps Monkey Boy was slower due to all his lovely girls hanging on to him. Orang Utans are quite heavy.
RS
Good morning all.
It’s Monday and I am hungry for pips!
EURGBP – The EUR weakened last week but recovered its losses on the Friday. EURGBP is in a triangle and use the DP at 0.8950 as the point of support. Any break below here would signal a test to the DS1 level at 0.8865. A break above 0.9005 would signal a test to the highs of last week at 0.9060.
GOLD – Key support now at $800 and boy do I hope this holds…The 60min chart looks good for the upside with support at the MP at $835.00 We spoke a lot about this on Thursday and Friday. Previous high is at $845.00 and a break here would signal a move towards the $852 DR1 level. Triggers are too high at mom on 15min chart so will be patient for a small pullback. The DP, MP and WP all below as support. Look for next trigger on upside on 15min chart.
AUDUSD – Higher highs and higher lows…GOLD finding support so AUD should as well. Any break below 0.6650 would signal a retest of the lows but if GOLD continues to find support look for AUD to break the 4hr 50ma around the 0.6900 level for a 1st attack on the 0.7000 level. &0min trigger key…
EURUSD – The EUR is very confusing to me at the moment. Everyone I speak to has a different view. You could argue its strength compared to say the UK but u could also look at potentially Germany pulling out and the unemployment in Spain etc etc and think of its weakness. Let’s trade the technicals and at mom we are boxed in between the daily 50ma and 20ma. Strong resistance at 1.3500 and 1.3760. A break below 1.3200 would signal a retest to the lows at 1.3000 and would potentially see GOLD back down at $800.00 if EUR retests there. A break above 1.3400 could see 50 + pips on the upside until 1st resistance.
CABLE – A 4 hr triangle is forming…This is the bigger pattern and watch break as when this breaks we will see the next big move. The 60min chart shows a tighter triangle and a break of 1.4920 should see a stronger move to the WR1 at 1.5100. Not looking for any downside play unless we break below the 4hr 20ma.
Happy pip hunting…
Dan
Good morning all. I hope you've had a lovely weekend and once again, ready to do battle.
Onto today's action...
USDJPY-Has managed to rally up through the 4hr 20ema, which is quite close to crossing north over the 50sma. Still unconfirmed for a longer-term long play I'll be sitting out of this until the monthly pivot is breached at the 91.10 level, so look out for that level before rushing in.
GBPJPY-Has had a good run but as is the case with USDJPY we are wedged in between the weekly and monthly pivots. 136.00 is the all important level to be broken here to see this a bit higher. On the downside it needs to break 133.00 (4hr 20ema & 60m 50sma)
EURJPY-again, has had a nice run and needs to break monthly pivot to get the all-clear for a longer-term play north. Too many obstacles up there below the 125.00 level, but a break of that might see this higher.
USDCHF-Banging her head against the weekly 20ema all last week there's nowhere to run for the Swissie. Boxed in between the daily 20 & 50 this could go anywhere. Needs to break 1.1100 for move south or 1.1300 for move up.
GBPCHF-Has definately no made a higher low on 4hr chart and looking quite well supported off the daily/monthly pivots and m.a's.
A convincing break of 1.6700 could see this target the daily 50ema at 1.7200.
EURCHF-Can't touch this on the downside with m.a's and pivots below but needs to break previous highs of 1.4920 to make headway to the daily 20ema at 1.5000
Summary - Watch for EURJPY to fall through the daily pivot and 60m 20ema 120.70.
with USDJPY struggling these yen pairs will not have an easy task making noise to the upside.
Play the break or 123 on short-term timeframe.
Looks to be a potential in GBPJPY too. IF it can break the 60m 20ema this may fall back to the weekly pivot.
Have a good morning.
Zak
Morning all
It all kicked off this morning with CABLE and GBPJPY all breaking vvv quickly from the 60min 20ma's down to their respective 4hr 20ma´s. The 4hr 20ma will be a solid support for these charts and unless we see a solid break and a 123 pullback i wont be hitting them short here.
I missed the gap fill in CABLE to the 4hr 20ma and thats the way it goes. Will be patient to wait for next trigger on 15min chart.
Do not worry if you miss a trade..There are plenty of opportunites in this market.
Its friday bank holiday and i am off from lunch time.
See u tom.
D
Hi all
Just got home and GBPJPY and CABLE worked out perfectly.
If u r patient the setups will come to you. Look how the 15min trigger and stochastic came back up on GBPJPY and CABLE for the retracment and then turned back down again...
Its a perfect setup...Theres no buying off the 60min 50ma with the 15min 20ma and 60min 20ma just ahead... the only option available is to sell as u r below the 15min and 60min 20ma....U always look to sell with the trend unless the market is overbought...
I have drawn two arrows to show you where to enter...Remember the rule always sell after green..
GBPJPY - Banked part in GBPJPY for 100pips
CABLE - Banked part in CABLE for 100 pips
Well done to those who took it.
Speak later
Dan