School of Pimpology - page 23
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
Template
Hi Mr Pimp
Any chance of another copy of the complete template?
Did not save it to desktop and Ive mucked it up cannot get it set up properly.
ThanksFerrari,
If you email me thefxpimp@hotmail.com I will send it on.
Who doubts the $$$ ?
So the big question. The Dollar IS back but fow long ?
Gold and Crude took a serious pasting again yesterday and now Euro & Pound & Swissie & Yen are all looking weak against the Greenback.
Remember the head and shoulders pattern I spoke about on Monday on Gold?
OK, it's very Quasimodo, but we're almost there, once again sitting on the daily 50sma.
Crude is now well & truly below the weekly 20ema with nothing below, but this level was a major support on the 4th of June so worth keeping an eye on.
The story looks like it could continue but as I found out yesterday to my expense, it's always best for the move to become established and not to jump in too early like I did on GBPUSD.
I'll be a little bit more cautious today.
Currencies are all correct side of the pivot for continued Sollar strength and I'll be keeping my eyes on the Yen today. My little Japanese girlfriend was rather tough yesterday, only moving around 80 pips opposed to Euro's 200.
There seems to be a lot of resistance up here and with the weekly 50sma (daily 200) looming up there too it's no suprise to see the shy girl stuttering a bit, bless ! Will look for a possible entry above 108.10
Everything looks oversold or overbought but I always get this wrong and stay out of a continuation thinking it overbought/oversold. That's why I usually leave a little bit running and switch to higher timeframes just to capitalise.
You know the rules on these 5m charts by now. If the Gold and Crude continue to fall, then wait for the 63CCI's to cross on the majors and then a little 1-2-3 on the price and 7CCI to get you in.
Just keep in the back of your mind where the 4hr 21CCI is (336 on 15m/84 on 15m).
Sorry I'm being a bit vague but I have never seen crude fall 2500 pips before and so it's a new experience for me too, trying to find the bottom, or wondering when enough is going to be enough.
In appreciation for the thread and all my efforts great and small I recieved a big box of cakes yesterday which was lovely.
Should anyone else feel the urge to shower me in gifts or chocolate , please drop me a line.
I have discoverer Frances CAC40 on my Metatrader so I will pop back at 8am to discuss the indices a little.
Until then, Au Revoir
Oversold Areas
Hi Guys,
a few quick words on oversold areas.
The setting on both the 15m chart CCI's and on the 60m chart CCI's are the same. They are the 60m and 4hr 21CCI.
When these are both below the -150 levels do you want to be entering a short trade? Noooooooo
This means the price is already oversold quite heavily as the vertical blacks lines on this Crude chart show.
Be careful when these situations arise as the price will almost always go sideways here to allow the m.a's to catch up and the CCI's to retrace toward the 0.0 again.
Fast EMA
Here's another way you can use the fast EMA that runs through the candles.
On a break out play, allow the fast EMA to be as close to the break out level as you possibly can. It will add upward pressure to that region and give you a better chance of experiencing less time in negative pips.
From tomorrow I will post the morning summary at the usual time, then at 12:30 each afternoon a quick pre-lim of the U.S session.
Please continue to ask for clarification to things that you are uncertain of and I will keep posting ideas.
Have a great evening.
Big rally to the close for the Dow and Crude held its rally too. Interesting times. Dollar strength, dollar weakness?
mq4 source Heiken_AshiH_cw_mtf
The Boiler Room welcomes indices
Good morning, or is it good afternoon, or maybe good evening?
No, i'm not crazy
- there has been some time zone problems with lots of you guys who joined us in The Boiler Room.
There is a little bit over 100 people who joined our little chat-room in 4 days. That number vary then from 70-100 depending on how did people closed their chat when session is over (yes, just close chat window please - if you click that big LEAVE button then you have just kicked yourself out of chat).
BUT online there is always around 40-50 people - here is why:
The Boiler Room working hours are 06:45H-11H and then from 13H-16H UK time.
50% of people really gets there at 06:45 but at their local time - so pay attention please
OK, now i must address another issue - WHAT IS The Boiler Room?
As you all know i started this free chat-room so we can all trade Mr. Pimp's strategy together, and help each other to learn it and understand it.
It goes in conjunction with this thread.
It is not a school - this thread is the school.
We learn here - we practice there, live.
And maybe most important thing - it is not tipping service.
And what is new in the room today - well, while i was fighting with cable and eur as always, Mr. Pimp introduced indices to the room
As you can imagine they all enjoyed trading it - everybody was shorting DOW, buying FTSE (or the other way around) and yes, i must admit there is some money on these indices
I thought i would never say that..
See you tomorrow guys
Good trading
Happy Bday Pimpster
Happy B-Day FX Pimp !!!
Enjoy the weekend and forget about the market you'll have plenty of time to do it this week
and thanks again for sharing your market insight with usHAPPY BDAY SIR MANY HAPPY RETURNS HEARD THE GREAT NEWS FROM DANO, CANT WAIT MATE. TAKE IT EASY WITH THE TIA MARIA L8TR.
BLESS,
ERROL.
Pimpology Summary
Good morning all,
The beast is back !! The Dollar is dead !!
How many times has the Dollar been dead n buried just to come kick us in the face when we're not looking?
So what's going on now? Was Crude's dramatic 600 pip move the end of the downward spiral?
We'll have to see about that, but he's above the 4hr 20ema which has been key at holding down the dragon for the last few weeks.
Gold has yes to find such steam, and as I said before, a break to thr upside of $941 before I start getting hot under the collar.
So let us look at the shorter-term to see what we can expect this morning, prior to moving to the currencies.
Well, despite the Gold being stuck beneath the 4hr 20 still there does seem to be 100 pips of potential to the upside, to about $917-$920.
To the downside, is it worth talking about with crude looking so strong?
No I don't think so, not this morning anyway, so with both bosses above the pivot we're looking for potential Dollar weakness for ther session .
Onto the currencies, there's really not a lot of change from a longer term perspective. Euro and Pound still firmly beneath the 0.0 on the 4hr chart CCI and Yen & Swissie still well above indicating that these are just little retracements in the longer trend and not a change of sentiment.
I have alway said that the FOREX markets react more to Gold prices than they do to Crude markets so this would explain the lack of change so far.
I have said that I would not play against the 4hr CCI (336 on a 15m chart) but continue to do so without any great success, but what are we to do?
Let's not forget the bigger picture here, the daily trend for crude is still firmly down intil we get above $132.
So do we wait and see what happens or persevere with a counter trend more?
Let have a go at least, but wait for Gold to show us the way.
I think it could be a quiet session with Gold looking like it has very limited room, but if she does go then there might be some small opportunities for a long on EURUSD GBPUSD and a short USDJPY USDCHF.
Nothing terribly exciting.
Most of my pips this week have come from little 10-20 pip plays on the indices. I have made hardly anything on the forex.
Have a good session