School of Pimpology - page 123
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Good Morning
Good Morning all.
Some monster pippage yesterday on the majors.
Not so clear cut right here right now. However there is an interesting play lining up on the EURCHF
A massive run to the upside tune of 300 pips yesterday it's looking tired and currently sat on the 60m 20ema.
Yes, we're above the pivot point. Yes we have the 60m 20ema above the 60m 50sma indicating bullish sentiment over the slightly longer term but I firmly believe that a fall below the WR1 and DP at 1.5025 could see this at 149.50, 1.4924 then 14889
You'd need a sensible stop above the 15m 20ema to be safe so around 50 pips.
Have a great morning
PS I have set up a group on Facebook called FX500club. I will be posting here too and there will be alerts posted to all group members once we get the numbers up to 500.
Get your place now.
Good afternoon.
We averaged 54 on EURCHF which wasn't tooooo bad I suppose
This afternoons set up is on FTSE futures.
IF dow breaks down this triangle will go.
A stop behind and a target area of DS1 and 60m 20ema.
Why I don't like indices
The trade started well, going 20 pips up, but then got whacked with Dow finding some support after worse than expected numbers.
I know, you do the math. Should have fallen through the floor but to no avail.
16 pips to the minus tin and lesson learnt. Always take a bit of profit and move stop to breakeven as soon as possible.
Next
Glad you have utilised this Paul. Its always hard closing a trade out to see it go another 30 or whatever pips, or hold a trade to see it BE or worse. Now you can always keep a bit on with a stop at BE. Win Win!! Just remember the facility in the heat of the moment.
One of Pimp's Ladies checking in
PS, what happened to the laaaaaaaadies ?? Scorpion, MoreMore, FXDiva Larry.
This is becoming like a gentlemans club and I'm not sure if I like it.
Come back girls, all is forgiven.Hi Pimp
One of your ladies checking in to say hi.
This is a rare moment in history - savour it. Us laaaaadies not jabbering away talking about shopping and shoes, and giggling and flirting. I'm still here, taking it all in, digesting all your words of wisdom and scrutinizing all you charts but just not around to trade at the moment unfortunately.
Miss you but hope you are enjoying life in the sun and life on the Rock.
Your ever adoring Scorpion
aka Rollingstone
.
Correlation
Mr PIMP,
Today was a interesting day to say the least, as correlations were gray at best. With the $Dollar selling off, gold selling, crude selling and Euro & Pound making a upward march north. The conclusion i have drawn on is the primary coach would be the $dollar index chart for direction . In times like this, it seems that your correlation strategy is not very accurate. Please give some insight or validate your correlation analysis. I am playing devils advocate here and in no way conclude that your analysis is false. I simply am stating in certain situations these correlations cannot be the sole deciding factor as to weakness or strength.
Great strategy with the CCI, and I am certain it will assist those who are new, however indicators are just that "they have a great way of predicting the past". Keep up the good work....
am i wrong or this last two days the USD/JPY the market is having a bearish reversal? or my analysis is wrong. The question goes out to improve my skills.
Good Morning
Poor old Michael.
Really liked the guy, read the books, watched the movies and now it's fossil-time for the Jurrassic Parkster. RIP Sir.
Ok. what do we have today.
Potentials on both a weaker Cable, Euro and also Gold looking weak too.
One I am particularly fond of IF it breaks down is the Oil.
We have had higher highs and lower lows giving us a triangle formation, but with the price below all the moving averages I'd have to favour the downside from about $61.50 to $60.00 a barrel, so 150 pips potential.
There doesn't seem to be too much movement at the moment, but with the Yen moves last night we could have lots of fun with the midday videos
today.
If you'd like to see the videos, where we cover 18 forex, commodities and indices videos then please let my know.
Be cautious with GBPUSD today with the interest decision coming out a bit later.
Have a good morning.
Since the oil trade went so well, let's have another pop if it breaks the WS1 support.