The London Open - page 26
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Sorry Guys, been run off my little feet. Not really had a lot of time for humour.
Not being funny but I'm doing 15hr days at the moment and come Wednesday I'm delusional, by Thursday I'm hallucinating and by Friday I'm brain dead.
Even my pips dry up as the week progresses. Only managed to pick-up 14 on the DAX, so a very sad state of affairs.
I hope some of you took the EURJPY mentioned in this morning's summary for a quick 50, even if you had to wait 5 hours for the action.
Hello all
Well it is a day when it all gets away from us (and its friday)... Thats trading and you end up kicking yourself, but life moves on and there are plenty of pips out there for us all to take, with low risk trades...
Looking back Gold always looked heavy and EURUSD would abviously follow giving USDCHF support... However i had doubts about USDJPY on the upside this am but it shows how bid that market is... You know i all love USDJPY back up to 115.00 area but needs to break the Daily 200ma clearly for a 123 trade..Still in, but that was ages ago...
The USD is building nicely and easier trends will come into play soon. At least the EURUSD longer term book is looking very healthy from being short above 1.5600 level...I know quite a few of you are still short which is great... Longer term is very relaxed and chilled... Bit like the PIMP...
Ok lets have a good afternoon... Don't want to attack too aggressively this avo, as i am healthily over budget on pips this week but lets see what happens.
Keeps the wife happy.
Dan007
PS Crude might be good on the downside but keep it tight... Gets dangerous around DOW opening..
Hi rockdrive22 and rocwell
Do you think that guy on FF has got the message yet? Great posts, enjoyed them, good chuckle moment.
Markets tricked us today huh, it seemed a will-they, won't-they scenario. However, good to hear Dan's analysis on everything and have made major steps this week in my forex education. Still got a long way to go until I am top of the class but feel like I am on the right tracks now.
Confuscious say "Journey of a thousand miles starts with one step".
Have a great weekend guys
Fran
All comments graciously acknowledged.
My approach is always to codify as much as possible. I actually write trading software but trade very little. But I desperately want to expand my trading. So when I find a strategy that appears to work - I stretch it in all directions and see what bounces back and what snaps. The personality of the CCI:84 on 15min appear to singularly describe an excellent price action strategy. Price action being a very hard nut to cash in on. After all - we all have price available to us no?
And so I try to range in on the core concept using rules and filters that help define higher probability, lower risk trades and as a result, fewer trades too. The discretionary side of trading is just not my cup-o-earl-grey. So coding up what appears to be the genetic makeup of a strategy is my only trading alternative.
Having read the FF posts I still have trouble describing precisely the rules necessary to trade Dan's strategy. Perhaps a collective accounting of the 10 or so nuances required to trade this technique might be useful to post on this forum rather than refer all those off to the other site who wish to learn it.
MM
Hi MM
Earl Grey tea, we are definitely on the same wave-length now!
Fran
Mr Mole,
sounds like you have an interesting twist on this strategy. Would you mind elaborating what you mean by "pivot of EMA:10(SMA:20(CCI:56))" ? Perhaps a chart or two to clarify? I've dabbled a bit with EA's (nothing too strenuous), but have come to the conclusion they're only good for strict rule following. The two systems that most interest me (this is one is one of them) both have an element of gutt feel to them: here it seems mostly coleration with other pairs or commodities. Hence I've near blown a few demo accounts using an EA that *should* have worked.
Looking forward to working with you all,
Spitfire
After an excellent weekend in the gargen..its eyes down for another week playing 'where are my pips'.......Got my Green Tea, sorry F but Earl not my cup of tea....been tidying my charts for the week ahead and still getting my head around the currency interactions. After a couple of sniffters my memory banks were competely wiped clean so I am back to the class room.
Mr Mole - nice one on the system....I am certain the posters on the thread will be interested to see if you can crack this approach.
Hello Spitfire (I have a local cheese called Spitfire and most excellent it is too), welcome to the thread.
Enjoy the week ahead and here's to Pips.
Vive Le Pimp and Le Dan
Morning all,
I hope you all had a succulent weekend.
On today's menu we have a bot of core cpi out of Europe at 10, which should shake it up a bit.
Gold looking supported on the 15m set-up but over on the 60m/4hr she has a lot of obstacles in her way. Could be a little run upto $880 if she carries on.
Would be nice as rather fooloishly I went short on USDJPY on Friday afternoon at the 108.38 level and instead of collecting 40 pips, went out and left it running. Nice little double top formation with CCI84 divergerging, so it might fall a bit.
Euro looks like Gold. Finding a little suppport on the lower timeframes, with a little bit of room to the upside, but plenty of defenders in front of the goal, and still firmly in a downward trend. Probably safter to sit-out the little retracements then look for short opportunities around the 1.5450 level if it turns.
Overall it's the Yen pairs that interest me the most. Hugely overbought in the short-term, we could see some opprtunity to jump in on the elastic band theory if USDJPY starts leading the way
Crude is falling again, which won't help Gold, but the 84 has been down a long time so won't be jumping into this baby, just yet.
Just worth a quick mention whilst I'm here. EURUSD USDCHF. Two opposites.
Which one should I choose to trade if I don't want to put all my eggs in one basket ?
Well the simple solution is to look at EURCHF and see which is performing the best.
You'll be pleaed to know that the Friday P.M session will be hosted by myself from now on and will be entitled 'The Pimp-Show'.
Lots of fun and frolics to be had. Lot's spandex & lycra in the house, so please feel free to come along and have a look.
We might even do some trading.
Good day to you, my lovelies.
Hi
Good luck to everyone this week. May the pips be with us all!!!!!
Jeremy
Thanks Pimp Awesome analysis this morning. Look forward to the Friday Pimp show - leopard skin lycra speedos? F
Easy F,
Bit early on a Monday morning to be thinking lycra......
Good luck for the week.....