The London Open - page 96

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seems today I lacked this main ingredient - sung by Take That. Have a little patience! I exited crude for -5 and within 5 minutes 100+ pips would have been available. Got on with my house work - a bit of dusting and cleaning! Came in an joined the new toy which FxMonkey have gotten and played in a live room - It was most excellent as Bill and Ted would say!! I am sure others will be letting you know more but I thought it was very cool indeed.

After some mad spikes with the release of the NFP data, crude finally get its act together, a lovely set up, I enter at 94 flat and then watch it drop quickly, and then just sit there. Blimey, with all the fluctuations thought it was gonna go back up and with the price action not going down further decided to take profit +30. Blow me again - off the Prince of Darkness goes and drops 150 pips in a flash. Nevermind. One thing is certain. There are pips available everyday. So reader I ended up with a final score this week of 752. A most pleasing outcome.

Well done Dan, Le Pimp, Kung Fu Panda and Monkey. Brilliant stuff and I look forward to seeing whats you have for your next installment.

Housemaid Rockie

 

Hi Dan,

Really enjoyed the live room today - Looks a great set up & can't wait for it to be up & running.

Had a great week with in excess of 700 pips & that includes some daft mistakes & 4 trades that wiped me out to the pip before continuing their initial move.

Not thinking what could have been as I'm very happy this week - nicely over my target.

Looking forward to next week to try & avoid these few mistakes.

See you next week,

Simon.

 
rockdrive:
... but with gold and crude stuck in a rut, decided to give everything a wide birth. Back later Bored Rockie

Hi Pip King Kong Rockie

...a wide birth - ouch, sounds very painful, hope they gave you gas.

RS

 

Hi All

It's so great seeing you all make obscene amounts of pips with Dan and Pimp in their chat room. Sadly I haven't made it in there yet due to being stuck in the rat race (I must have one of the only jobs in property that's still manicly busy!), but it sounds amazing. Please, please, please carry on posting your success stories to keep inspiring me!

I can hardly wait for my next day off to join in the action - and thank you Dan for all your words of wisdom and charts you have posted to date, they are all very much appreciated.

Good luck next week pipsters and have a great weekend y'all.

RS

 

Evening all

Looking forward to the chat room next week.

Will be in there from 6.55am, London time.

D

 

Good morning everyone, I hope that you all had a good weekend.

Following a volatile day in the markets with Non Farm Payroll crude is still in a strong downtrend with our 4 hour moving averages still very stretched. We have a daily support coming in at $87. On the shorter time frame, we some resistance at the $89.80 level for which we need to see a break of the $88.90 mark. I would be concerned about shorting crude at this level because of the gaps to the upside, however we may see a play down to the support at $87.

Gold is also still on a down trend on the 1 hr chart, holding resistance of the daily 20 ma and support of the daily 50ma at $826. A break of 829 or $826 may see a play down to $819. The upside break of $835 may see an attack towards $845.

EURUSD is setup similar to the 1hr crude chart. It is still in a strong downtrend with the immediate support at 1.3600. The 252 CCI has been down for sometime and it does not seem to have the momentum to go much lower at the moment. However a break of 1.3580 may see a move towards the weekly 200 ma at 1.3400. A break of 1.3650 may see an attack to close the gaps on the moving averages, with a first target of 1.3720.

Cable is also still in a down trend, with the daily lows at around 1.7450. A break of ds2 at at 1.7560 would signal that it wants to go lower towards the daily support. However, with so much red on the daily chart, this certainly needs a pullback. A break of ds1 at 1.7610 may see a move higher with a first target of 1.7660

Have a good day.

D

 

Mondays can be like this..The Asian market had the fun and that always makes the london open difficult.

Important not to rush trades if nothing is there...

Morning to watch now and regroup for US open.

Lost on Cable and made some back on GOLD. Small down now for day on pips..

Speak later.

D

 

Look at that USDJPY move...

 

Frustrating as had other stuff to do today....

 

Hi Pipsters,

I took the opportunity of trading this afternoon as well as this morning due to the rather unusual circumstances which have been affecting the markets. What great fun and inspiration it was in the room. Thanks fellow pipsters!

Today was a really good day and to summarise;

FTSE +35 / +16 / +46; Crude +30 / -11 / +89 / +50; usd/chf +31 / +28 / +17; Gold +25 / +17; eu +32; cable -23 Total pips 382

I know I show have had more confidence to stay in a couple of trades. For example I was in early with the swissie and although took pips the smoother ride would have been to trade 15m / 60m charts. I also missed a major trade on crude as I the CLx8 which I have been trading seemed to have stopped at around 6am this morning. I have now switched to CLz8 and took 2 nice trades this afternoon but am looking to swap to Brent as GFT and ODL seem to have same prices. Will look at spread but it may make comparisons easier!

Cable has been my unlucky pair since I took up trading. I seem to loose on this one more than I win. I saw the set up for the short, but with cable it seems more patience than I have is required!! Perhaps this is one to learn from.

Took some nice trades again on FTSE but again I was in short at 4719 but cut the trade for +16 pips and then watched it go 100. Nevermind thats the way it goes.

The 4/10cci strategy on crude is my favourite tool. Works pretty much everytime and provided you are focused you can collect pips.

Gonna have a some crispy duck for support tonight. I'm home alone so watch out mice!

Crispy Rockie

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