The London Open - page 149
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
This EURGBP is working out well...
0.9500 is key resistance as you know. I am loving GBP higher against USD and JPY
Been told this is going to 0.8000 or if not 0.7500...I can only wish!!!!
2 large support levels to break.
D
1.4200 key resistance in GBPJPY.
Darryl and a few others are long from break of triangle at 1.3800 level with rolling stop.
This baby has huge potential to 1.6000 but u must buy from support.
Wait for next retracement to support before adding.
D
Taken 70 pips from EURUSD.
Will hold 50%. Stop to figure.
Thats me done for the day and off to see my tennis coach.
Whats the chance of my coach looking like Anna Kournikova? If only!!!
See you tom.
D
Banked another 25% in EURUSD at 15
Ok all out of EURUSD at 1.3485..
A nice 135 pip trade this avo from 1.3620.
Thats def me done.
See u tom.
D
Good morning team London
What a morning and boy am I enjoying teaching you all.
It was another controlled day with focus on USDJPY, EURUSD & EURJPY (& Anders EURCHF).
USDJPY – Many short from resistance at 98.45 with stop at 70 level – Est 40 pips profi
EURUSD – Many short from 1.3640 on 5min 123 pullback with stop at 70 level – Est 70 pips prof
EURJPY – Many short from 133.70 with stop above 133.95. – Est 60 pips prof
Overall there were 3 low risk trades on offer. We had 170 pips available to us, in what was a very controlled session. Well done to you all and i am really glad we have made the changes in the room. We are more focused, we pick the right markets to trade and the pips keep on coming in a controlled manor. Well done to Tom who has been with us for 3 ½ weeks and made 220 pips yesterday.
Well done to those who traded GBPJPY and are now up hundreds of pips.
Happy Dan
D
Morning all
I have been talking about this trade for 6 weeks plus...
Look back at yesterdays post at 02.09pm. We had a retracement to the 1.4000 at around 6pm. I added again just above here and then bam we broke resistance and are now trading at 145.00. Thats 700 pips + so far and looking for at least 2000 on this trade. I do know some of you are in this...Lovely!!!
Speak later
Dan
Hi
Been talking about EURGBP for ages it seems.
Now down at 0.9200. Thats just under 300 pips from entry.
Will this go the whole hog and fall to my target at 0.8000??? I hope so!!!
I have to say i am really glad we made the changes in the room. Hats off to you all and what a core team we have now.
Cheers
Dan
Apologies for no closing commentary from yesterday, for one reason oranother I drafted it and didn't send it out. The bad news is that Ihave got even more to rant about as I didn't vent my views yesterday.Lets start with the 5th biggest rally in US stocks in history (I wouldhazard a guess that at least 4 out of 10 of the biggest rallies of alltime were in the midst of a bear market). The majority of so calledmarket experts are saying the market rally is down to the Obama/Geithnerbail out plan. Well I am not so sure, I think this is a bear marketrally that was actually triggered by the market being oversold and theQuantitative easing policy that was introduced at the last Fed meeting.In English, and EM is central to this theme and that is the US and othercountries are going to inflate their way out this debt mountain andtherefore avoid a long depression. As for the bailout, the idea is goodhowever there is still a major stumbling block. Its all well and goodsaying that the private investor needs to put in some money with thegovernment/tax payer however I am guessing the private investor is notgoing to lift the offer and I am also assuming the banks will not/cannothit the bid so unless someone ie the government/tax payer is going tocross this bid/ask are we really anywhere near out of this toxic zombiebank type scenario? As I have said I welcome the rally and hope thismess is over however if it is, and many people on CNBC are calling thebottom it means data and economic activity will start to pick up in thecoming months meaning, increased productivity, employment picking up,house prices stabilising and consumer and government debt being eroded.Feel free to join all the sheep but I am not joining the "credit crunchis over party" just yet. Having said all that there is no reason whythis rally can't continue for a little longer as we approach quarter endand then look forward to what should be very good 09 numbers from theBanking sector that may add more fuel to the fire. EM has had a spectacular rally this past week, bonds that you could notget rid of 3 weeks ago are now bid only with more buyers. It shouldn'tamaze me but it does every time, the herd mentality in EM corps isshocking and accounts that were clearly underweight EM and tellingeveryone that its expensive are now piling in to "re balance"portfolios. It also once again is a reminder of how poor liquidity isand how little risk the street is running right now. All I will say isthat if inflation does pick up then EM will benefit. I am still in asmall minority that believes an environment where people have littlecash flow, assets for sale, or huge personal debt alongside governmentsin a similar position means that the deflationary forces will prevailand this scenario is not good for anyone. The good news is that I havebeen wrong many times before and will be wrong again, lets hope I amthis time!
Mr P......
A very quiet London open, with only a few options available to us, so we decided to zone in on EURUSD.
Yes some shorted EURCHF, CABLE, EURJPY, GBPJPY, USDJPY etc but as a group we zoned in on one.
We averaged ourselves in at the 1.3475 with a stop at 1.3505. Well protected and knew support was at the 50 level. Our target was 1.3425 ahead of the weekly pivot.
It took an hour and a half but we made it and locked in 50 pips before the EUR figures.
Well done team London.
Dan