The London Open - page 48
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Morning guys n gals.
Wooo. The beasts are back. Both Gold & Crude breaking up yesterday, unlocking the FX markets from what looked like a gridlocked statlemate for most of the A.M session.
Cable was looking sheepish as mentioned in the mornings post and Euro, after a little scare did break and move to the figure.
The picture looks pretty clear for both EURJPY & EURUSD, with clear roads ahead to make further advances.
Gold & Crude are looking pretty robust to the upside, and athough Crude may do the whole double top later, at least for now there is some daylight ahead, so it could just be a matter of relax and go for both these.
This is what I like to see. All moving averages either ahead or behind, not a combination. I hate playing Dan's 'box' strategy as so often it can go both ways several time before deciding.
Yesterday's Gold demonstrated this quite well with the price wedged in between the 4hr 20 & 50.
So, to clarify, I will be looking for opprtunities from the longer term charts to go long on EURUSD EURJPY Gold & then Crude later-on.
On the shorter term 5/15 set-up Gold is not looking so appealling at the moment but would expect to see this bounce off the 60m 20ema at $940. If it doesn't bounce but fallt through the 60m 20 we all know what to do, don't we Rocco?
Euro is looking like its set-up is not overly great either and looks more set for a short, which is to be expected if Gold's set-up is not so hot. Just be careful if Gold does bounce.
Cable looks tired.
Now the interesting part. USDJPY is also above all it's m.a's, so I am like the potential of EURJPY.
I would say to be a little cautious until Gold breaks $940 or bounces.
bonne chance
Rockdrive
Great trade today in Gold... Its a bid market and you traded that very well..
Hitting $950 now
Dan007
PS Will be posting on here again from monday.
Lets get this thread rolling.
Hi Guys,
Just a quick note.
Gold and crude did advance further as suggest in the post of this morning.
EURUSD & EURJPY did make some headway too so the FX markets are not dead yet.
I'll have a little Skype session open most days for those interested in sharing some ideas and attempting these testing markets. I wont always be on hand, but the collective mind WILL win the day.
Just drop me a line or get Skype and add FX Pimp as a contact an I'll add you to the chat.
We picked up a few nice pips on the Dow and the Crude yesterday, so plenty of opportunity for those wishing to diversify their efforts.
Don't forget the Pimp-Show this afternoon for members of the room. It starts at 1:15 pm UK time.
Rockin & rollin, guys, rockin & rollin.
52 on Dax and 50 Dow. Nice 123 and support break.
Rockin & rollin, guys, rockin & rollin. 52 on Dax and 50 Dow. Nice 123 and support break.
Great effort Tony. You are the man.
Dear Dan007 and Le Pimp,
I write to say a big thank you. Today was a day like no other.....why because I achieved / exceeded my target of 300 pips in a week for the very first time Only a couple of weeks ago I achieved 200 pips for the first time.
In fact this week I have made 414 pips. Today alone I did 191 pips. This was not done on the currencies though. In fact the pips came from gold (+27), crude (+188), FTSE (+ 26) and DJI (-50). I also had a losing trade on crude, which was due to placing a stop loss too close which cost -47 pips.
I have struggled to find entries on to the currencies in the morning sessions, but I know from other traders on the thread they have had some great success. Well done to you.
Confidence is crucial in this game. I think I am beginning to read the language of the charts. I especially liked the 5m chart set-up for Crude. I used the 10cci and a cross of the 0/0 and ensured MA's were close by to provide support for long entries. I will keep using this approach on crude and it has given me several entries this afternoon alone. Nice strategy, although not strictly as taught but hoepfully a useful adaptation!!
Will be interested to see how next week looks.....I have set myself a new target of 500 pips. This would be the dream position and to achieve on a regular basis would be just so cool!!
Thanks guys - its has been a great week working with you.
To the other traders, who have also put your hands up with help and support a big thank you to you as well. You know who you are.....Thanks.
I am now off to drink something.......hopefully fizzy (and no Le Pimp not lemonade).
Enjoy the weekend........Where ever you are!
THANK YOU!
Full of Pips Rockie
Wow Rockie!
Congratulations, absolutely fantastic pipping my friend. I am truly and sincerely full of admiration. I remember when you were a newbie and struggling and just look at what you have achieved in such a short time, just a matter of weeks! Dan and Le Pimp are the guys to be with huh, that's for sure.
I'm really looking forward to being back with you all from Monday and especially joining in with Le Pimp's Skype room. Can I sit next to you, maybe some of your success will rub off onto me!
With Dan's London trader pals struggling to make pips in these difficult cirumstances it is just amazing what the peeps in the room are rolling out. What a great teacher Dan is and what a great team he has with him. How lucky we are to be a part of it all!
So hats off to you Rockie, enjoy your bubbly you deserve it, and thank you Dan, Le Pimp and Team London for your great system and fantastic teaching.
Have a great weekend - no homework required for you me thinks!
Name: Rockdrive. Occupation: Pro Trader
. Cool.
F
PS I think some of that dancing we talked about in the forbidden place might be on the cards after your bubbly! Do you want to borrow my handbag to dance around?
Wow Le Pimp
Lots of wows in the last two days!
Pimptastic or what!
I'm not sure about the naked trading bit though - I always thought it was what you can't see that adds the spice! Or, more to the point, with our British summer its a bit darn chilly.
Banter and trading, newbies, novices, those finding their way, the Sir Rockies and Sir Hemels, and Le Pimp Master to keep us all in order - what a great combination and a great way to learn and make some new pals too. Oh, and Sir Rockies norti jokes too I hope.
Count me in and I'm looking forward to seeing you all there. C'mon ladies, lets give the guys a run for their money and show them all how to multi-task too! It's not just the guys who can learn to trade.
F
Good morning all.
It's been a very tough time lately on the FX markets as we all know, but it seems for the meantime, there is SOME light at the end of the tunnel.
Crude oil has staged a magnificent recovery of over 1000 pips in two days and has begun to drag Gold with it too.
This tells us that USD weakness is back for the forseeable future.
In light of this and coupled with the reasonable news from the States having no positive effects whatsoever, I can only see one direction for the Dollar at the moment and that is down.
I have attached a daily chart for Gold and will be buying into this quite heavily in the forthcoming week. Just little retracements on the 60m charts and we could see $1000 again very soon.
The chart has the daily m.a's in light and weekly m.a's in bold. I have also added a weekly CCI at the bottom to demonstrate that this could be the beginning of something very large as it's only just crossed. Look what happened the last time it crossed this time last year. It went from $666 to $1030. Can it do it again? With Crude having a little sniff at the $150 level I think it can.
More tomorrow.
Great Trading Rockdrive. You are setting the benchmark for all of us to aspire to - well done.
Brilliant idea Le Pimp, just what we all needed, don`t how you manage all those pips and manage to help us, but I know we all appreciate it, Thanks.