The London Open - page 187
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Good morning
I hope you are all well and that you are making a few (cheeky) piparoonies.
Speak soon.
D
Good morning
Weak US PPI figure out yesterday has kept the stock market alive for the time being.
USDX is boxed between the WP and DP. Any break below WP at 78.79 will confirm further USD weakness. From this range I would stay away from buying USDX until we see a solid move back above MP at 79.15. Need confirmation of breaks this am for direction in USD.
CABLE
• A solid retracement from 1.6260 back to 1.6550
• 4hr chart suggests if this 1.6500 region can hold the 4hr Golden Cross will come into play for a potential long play back up to test the 1.6800 region
• The 60min chart suggests CABLE could be a little beast this am, as the range is 1.6507 to 1.6588 but it is hard to sell on the break into the DP and MP on the downside.
• Therefore I will only look to sell CABLE today either at the highs of yesterday, with a very tight risk play or wait for a 123 back down through the MP at 1.6475
• Only buy option I have (at this level) is a very tight play at 1.6510/15 region with a very tight risk play below DP, for a bounce back up to yesterday’s high
EURUSD
• 4 Hour chart suggests lower highs and lower lows for a downward trend
• Only support ahead is the MP and 60min 50ma
• For short plays I would like to see a break of the MP for a 123 south and a Golden Cross of the 60min MA´s
• On the upside I won’t be looking for any long plays until we see a 123 off the WP at 1.4192 for confirmation of suppor
USDCAD
• It seems all charts are boxed between the MP and WP suggesting a boxed market with difficult trends to read
• If CABLE tests the low side we would expect USDCAD to rally but I can’t look at any long plays until we break back above the MP or at least have a 123 above the DP and 60min 20m
• On the downside I have the WP at 1.0956 which will offer solid support
• Potentially I could play the break to the WP from 1.1000 down to 56 but again a very risky trade
Verdict
• See both ways this am so risk is high
Good morning
9.30am - Revised GDP for GBP Expect -0.8%
Better than expected Prelim GDP for States yesterday. Indices remain supported (for now) so USD still remains under pressure.
USD X
• Struggled to remain in its new range above the WP and is now back down close to Mondays lows around the 78.00 level
• USD X not helping us too much to be honest and after yesterdays dramatic fall we should be wary of buying USD for the immediate term
CABLE
• Large retracement off yesterdays lows at 1.615
• Boxed between the 60min 20ma and 4hr 20m
• Looking for break of either the high at 1.6303, or the DP (61.8 Fib) at 1.6245
EURUSD
• As mentioned on the videos over the last week there is no need to short this fella
• EUR is bid and any sign of a weak USD and EURUSD rallies
• Would like to see a pullback to 1.4300 for a potential long play
GBPJPY
• Would like to see USDJPY remain below its DP but if CABLE breaks its DP watch GBPJPY break lower as well
• Will look to short through the DP (61.8 Fib) to test yesterdays lows
Have fun
Morning all
Sorry for the lack of time spent on here but James and I have been building the new website. Really looking forward to the new service starting from next week.
A good day today shorting USDCAD from highs to lows and buying CABLE on break to DR1 today.
Nice end to the week and keep short of USD for the time being.
Really think the SMS alert service will work well. Infact can't wait and takes all the hard work away from you all.
Speak soon
D
Good morning
Indices finally make their statement yesterday and USD is back in the bullish books.
USDX looks supported above the Daily 20ma and DP at the 78.40/50 level. As long as the price holds this level I will remain looking for USD strength. The chart is setup for a perfect 123 with a bounce off the Daily 20ma but we need to see a pullback first. I am looking for weak USD first thing this am (pullback) but further strength later today.
Huge moves yesterday and good to see some of you taking the CABLE trade. 4 Hourly charts all look a little oversold (except EURGBP) so looking for retracements this am which would tie in nicely with the USD X.
CABLE
• Would prefer to keep selling this beast but not at this level
• Looking for retracement back towards the 1.6240 region
• Only anti trend play (I would be keen to play) is a re test to 1.6112 with a tight stop below
• Verdict – Looking to buy off yesterdays low or sell around the 4hr 20m
EURUSD
• Similar to CABLE and needs a pullback
• Looking to sell at a better level up at the 1.4260 region with the trend
Hi all
CABLE was a good long today and a great entry (for all of us) at the lows at 1.6120 with a stop at 1.6105. Small risk for a huge gain!!
You know the 4 hour and 1 hour charts are key and thats where i get my major levels from. The new blog is up and running and hopefully u r enjoying the new alert setups.
I have added the CABLE 4 hour chart below.
Well done
D
Hi di hi Campers - Back from hols; and a small break before my next project begins. Had a little go with the black beast today. Lovely set up. Take a peak at your hourly charts. Off the 20 MA and down. Managed myself a small 76 pips for a very modest risk. And all this before lunch. Amazing run on the Orange Lady. Where did that one come from. No pips for me but a definite show of strength. Hopefully some of the usual suspects on this thread snagged some.
Was interested to see cable do its mad slide this morning after news and then make the usual massive recovery. Like the look of EURGBP and fancy it lower myself. But play what you see and not what you read.
Rockie is well tanned - but somewhat larger around the girth. Too many cooked breakfasts, vin rouge and gallons of Koppaberg pear cider. Lovely jubbly. Its good to be back.
Ample Waist Rockie
EURGBP - called it lower and I managed a couple of pips on the slide. Had to go out today so I had a play with a limit order. Not as many pips as I would have liked but no complaints at my +40 blind. No trading tomorrow - I have to see a man about a sheep. Remember play what you see and not what you read. The only way to trade - is your own book.
Hope to post a few more items in the coming weeks - but no promises.
Happy Pipping.
Great Western Rockie
This morning a little quiet. WTI entry 68.05 at D-P. Closed at 68.61 +55 pips. Needed some patience as volumes low. Its Labour Day. Now waiting for break of hourly 20, or break of DP to the south side. Also snaffled some pips on eurgbp short 8751 under W-P closed for +21 pips. Waiting for break of hourly 20. Order in at 8720. but if it gets support will look for long position above 8760. Happy pipping.
I-Tunes Rockie
Played WTI down this pm. Missed a better entry at 68.90 and called the trade on twitter (rockdrive22). Got my entry at 68.62. Dragged on and I finally closed at 68.35 after several hours. Put limit order in at the hourly 20; smashed through it and as I write its 68.08........never mind! A total for today of 120 pips. Nice for a Monday. Hopefully, I can be around for a few more trades this week and I'll post and twitter as I go. Remember trade only what you see and not what you think. Trade your own book and don't place a trade unless you understand the risk / reward ratio.
Time for some cider. Got a new one to try called Perry Pear Cider. Its an old brand......but now fashionable again. Gonna have to be liquid gold to beat Koppaberg. Enjoy.
Pips and Pears Rockie