The London Open - page 2
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
Great post. Great thanks!
FerruFx
Morning all...
Concentrated on the strength of CHF today and the strength of the EUR and GBP against the USD. Gold showing support initially for USD weakness on london open...
EURUSD - Perfect break with German PPI coming out stronger than expected and a target of 1.5600 for the morniung session.. A great start with 50 plus pips.
GBPUSD - With USD weakness all round the GBP started to build as well off the 50ma for a move to test the Daily 20ma.
USDCHF - Look at the 50ma crossing down from the 200ma.. The red heiken ashi candles get u in on the break for a move from 1.0500 down to 1.0450 this am... A great 50 plus pips to be had...
GBPCHF - Usdchf led the way and was looking for a pullback to the 4 hour support..Entry on break of 50ma and 200ma from 2.0490 to just below 2.0450... A solid 40 plus pips this am to be taken...
Excellent morning.... Ok off the beach
Dan
Hi Dan,
Trading your strategy you discussed above seems very interesting. The way you use the 21 CCI to show you the trend works well in the thumbnails you have posted. Look forward to more to come!
J
Hi Guys
Sorry i will come back to any questions but i have to run out my office in 30mins...Apologies.
Interesting morning and should have capitalised on more but missed certain entry points... Huff!!!!!!!
Lack of data in US and GBP left for only the German IFO to give support to the Eur..No surprise that figure was going to be strong!!! Seems like the Eur is run on one economy...
Annoyed with the CHF strength, as could and should have picked more on that trade....GBPCHF still leading the way and my favourite....What a 200 point move.
The EURUSD came in too late after jumping 45 points in 1 millisecond with the news. Very hard to jump in on that...
Look at the higher low in CHFJPY... One of my team picked this perfectly from 99.65 for 80 pips...
Cable seemed the best trade this early am with a pullback through the neckline at 1.9668 for a pullback to the support at 1.9623...That seemed a lot safer as a gap trade to the support than EURUSD...
The DAX had the classic 50% retracement to the 20ma and 50ma for then a push lower smashing the 200ma... These Indices look vvvvvvvvvvvv weak again.
Look how the FTSE opened again witha nice 50% retracement to the 20ma and 50ma as well and then pushed lower to 6,200..
Not an easy day but opportunities were there to be taken... Annoyed on a few of them but hard to maximise on all of them...Saying that this little team is calling good trdaes and its all about confidence in these markets..Yesterday was clear as water and today entry points were more difficult and u have to be very careful on where u put stop losses and how much u risk...
Enjoy guys... Off to play golf.. Will try and answer a couple of questions later.
Dan007
hi dan thanks a million for your interesting posts, but I still can't understand how you pick you entry and most importantly exit points! would you please explain more with further details?
thanks in advance for your time and effort
Hi Guys
Bit of a messy day today to be honest...All FX charts setup for retracements back to the 200ma but the problem with this type of trade is that you are trading against the main trend...USDCHF and GBPCHF were all in down trends but finding large support off the daily 50ma.
It was a tough morning because EURUSD started weak, giving an impression that the retracements were on and then rallied and then fell off again after a false break of the 1.5800... USDCHF was then left stranded but interestingly GBPCHF, which was called on the break of 2.0265 came into play with a pullback to the 60min 50ma.. Hard to pick but nevertheless a good break and pullback...
The FTSE was the only other cheeky play.... Support off 60min 200ma on my 15min chart.... Resistance line is clear and break from 6,190 to 6,230...
Sentiment is changing by the day and be wary of false breaks on 15min charts... The 60min smoothes it all out.
Also always remember where the price is in relation with the 200ma... Vvvv important, as pullbacks can be aggressive the further away from the 200ma.
Enjoy the afternoon
Dan007
Hi Iman
Entry points and exit points come from my 21 CCI and 10 CCI... The 10 will get you in slightly earlier and depends on the position of the MA's...Eg today all markets had been overbought or oversold on the 60min charts which means pullbacks were on...Look at the GBPCHF 10 and 21CCI moving into positive territory.
Cheers
now I see.. but it still seems a bit tricky for me..
thanks a lot man
have a lovely afternoon
Hi Iman
Don't dismiss this as tricky... I have worked on this for a vv long time and it couldnt be simpler once u nail it. My student Zak was taught in december and is up 450 pips in 2 days. Alot better than snipping as they say!!!
I have taught many people and they are rewarding themselves with over 500 pips a week...Its worth a look but again up to you...
Morning all
Fantastic positive room today. EURUSD, USDCHF and CABLE fizzled out but no harm done and many of the MBC capitalized on the CRUDE, GOLD and EURJPY which is great.
EURJPY broke below the 163.50 level for an entry and a pullback towards the 200ma. Profit target was support line at 40 point profit and others decided to run it for 100 point profit…This is all down to money management and the main thing the risk was evaluated and it was a high probability trade to take...
GOLD was a great long and alerted a long position around the 920.50/921.50 and took a solid 30/40 pips on this trade back to the 15min 50ma..
Crude was again alerted after yesterdays large fall of 500 pips for a bounce from 131.30… We are now 100 pips up in this and watching…if you like it for a long play look at the longer term 4 hour charts.
Have a good afternoon... Road trip this weekend with the family..Going to check out some nice beaches.
Dan007
Hi all
Do look at Gold...Take a look at the bounce off the 20ma with the 10cci crossing back up above the 0.00...
Simple, effective and v profitable
Dan007