School of Pimpology - page 9
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The Euro open
Big ups to big pips
Vampy
Pappa Bear sleeping?
My crude chart has paused but all the others are ticking away fine
Good Morning
Good morning everyone. I hope you are all very well.
I'd just like to say a vey warm welcome to the new contributors to the thread. Tony H, Lux, Snowman, MoreMore, Remmy, Bloom, Adder, Bennihana, Penrynian. Big thanks for you guys for helping me make this happen.
It's good to see a few different opinions on stop losses floating about, which is nice.
I will try to post some charts later with suggestions and that will hopefully help, but for now, as cindy says, behind the 3 of the 1-2-3 is good.
Refer to the arrown on the entries post #70 from yesterday.
On to this morning.
It looks like the Dollar is meaning business now doesn't it.
Crude bouncing off the 4hr 20 ema as suggested it may yesterday after a little 150 pips run, then subsequently dropping 600 pips.
Gold bouncing off the suggested target area of $976 and then collapsing collapsing 300 pips after a noce little 100 pip play in the morning.
Where does that leave us this morning?
Well, one naturally assumes a slight recover would be warranted, which gives us opportunity to play against the trend.
This is always dangerous as you never know when the trend is going to continue and the longer term 60m charts on Gold and Crude both look pretty grim.
Crude has fallen 2000 pips now in about a week. $120 would sit it back at it's weekly 20ema, some 500 pips lower.
It is oversold in the short term. 84 CCI on the 60m chart currently at -250.
Gold too. In the immediate term it does need to retrace, but I will be looking for short positions when the time is right.
Sadly my crude chart is not working for some reason but I'm having to be a little vague.
With Gold having found some support of the daily 20, it'd be no surprise to se a small recovery this London/European session.
So on the currencies we could be looking for retracement plays.
Euro has found support on the Daily 20ema and Swissie had round resistance on the daily 50sma.
Yen has broken the 107 strangle-hold, whils Sterling is in the halfway house, boxed-in between the 4hr 50sma and the daily 20.
Always remember in these situations, you never want to be going long/short when your 84cci from your 60m chart/336 from your 15m chart (same thing) are hugely overbought or oversold.
Yes I do think IF Crude and Gold continue down that the majors will continue in their current direction but I don't think it will happen this morning.
Onto the 5m charts we can already see the opposing directions setting in, but how long will it last. Well I am not sure about that the YEN & CHF might fall to their pivots and Euro & Sterling may rally to their pivots but it doesn't excite me at the moment.
I suppose the best looking potential set-up at the moment is the 60m GBPUSD for a short.
The 5m isn't set yet. We'd need to see a bounce off the pivot, it cleacing the m.a's below, then we can look for a 1-2-3 to the south side.
The MPC minutes are out later but I don't think anyone is expecting a decision other than to keep rates on hold for the moment.
Have a good session. I'll be back at 11 ish.
Morning FX,
Thanks for your early update.
Plenty of questions developing in my head but just one for now.
When you are looking at a with trend 1-2-3 entry on the 5, I presume that the 63 CCI has to be above/below 100/-100 when you get the entry from the 7 CCI as a cross of those levels would be the overall exit.
Is that correct?
Thanks,
G-Man
Valid Signals?
Hey Mr P
Just wondering if these are valid signals (red arrows)?
Crude
My crude chart has paused but all the others are ticking away fine
Yes WHC Crude (CL) has stalled at $128.00.
May I suggest: File > New chart > energies CFD > BRN
That's Brent Crude which should give a very similar guidance.
I have a short order in just below the 1.9900 for GBPUSD
Yes WHC Crude (CL) has stalled at $128.00.
May I suggest: File > New chart > energies CFD > BRN
That's Brent Crude which should give a very similar guidance.
I have a short order in just below the 1.9900 for GBPUSDLooks like a lot of support around that 1.99 area.
Could be several orders building below. Including FX's!
G-Man
Valid Signals
Hey Mr P Just wondering if these are valid signals (red arrows)?
Hi Cindy.
The 1st of the two most definately. The second possibly not so much so.
When your moving averages are nice and relaxed that's when you have the power, when they are fanned out there is limited power, much like a stretched elastic band, which will need to ping back.
I'd like to see a bit more consolidation and be careful. If Oil and Gold have decided they have had enough they could ping back a bit adding weakness to the Dollar opposed to the strength we are witnessing at the moment.
Great little play if you took the first move up to the R1. Congratulations and good Pimpin'.
Cindy for your crude chart.
My crude chart has paused but all the others are ticking away fine
We all had the same problem. What you need to do is replace your crude (CL) chart with Brent Oil (BRNU8) and this will fix your problem for now. The other one is currently expired.
Hope that helps
Vampy
OOps, I just know noticed that about 15 million other people already answered your question. My page was not refreshed
We all had the same problem. What you need to do is replace your crude (CL) chart with Brent Oil (BRNU8) and this will fix your problem for now. The other one is currently expired.
Hope that helps
Vampy
OOps, I just know noticed that about 15 million other people already answered your question. My page was not refreshedLOL thanks anyway Beni!