The London Open - page 116
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Morning all
Well it was most certainly a JPY day. only managed to hit GBPJPY on that side but nevertheless worked out weel from 139.00 down to the 138.00 at the 4hr 20ma.
Morning notes were as followed...
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Good morning all.
A good day yesterday with some nice pips taken on usdchf usdjpy eurchf and gbpchf.
Well done to all those who took on any of the above.this morning looks interesting with evidence of yen strength coming back in. All these yen pairs have had a good run the last couple of weeks but today looks like they could push a little lower.
USDJPY - is still boxed between daily 20ema and 50sma. might find support off the 20 so unless still holding from yesterdays 93.30 the is not a possible entry at this time.
GBPJPY - looks interesting with price having broken the 60m 50sma. i will be looking for a 123 on 15m chart for a short opportunity here.
EURJPY - is trying to break through the daily 20ema, headed toward the monthly pivot and daily 50sma. a 15m 123 could be a good short here too.
USDCHF - is looking good to 10800 although it looks like the entry this a.m was a few 15m candles ago. will see what i can find on 5m.
GBPCHF - looks good value to the monthly pivot at 16400. look for 123 on 5m chart
EURCHF - looks good to weekly pivot at 14900.
To summarize the best 2 here this morning would be a short on gbpjpy and gbpchf, slightly favouring the swiss. Look for 123 on 5m chart and for price to hold below daily pivot & 60m 50sma for gbpchf, then probably best to wait for 123 on 15m chart on the gbpjpy. With all my 6 pairs looking good to the south (a correlation that i like to see) it could be a lucky dip on either to see what gives us an entry 1st.
Have a good morning.
Zak
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Good morningTrust you are all well
OIL – Has continued to weaken since yesterday afternoon. The price fell 50% of the original move and feel it is best to be patient here and wait for next triangle break. The 4hr 20ma should hold as resistance. Look for a double bottom today or the next lower high suggesting a move lower and a break of the WP at $44.00
GOLD – 60min 20ma below the 60min 50ma suggesting further weakness ahead. Look for further weakness on the break of the WS2 level at $842.00
AUDUSD – If GOLD falls further AUD will fall as well. Look for retracement on the 60min chart and next trigger for a down move. A break below the DS1 level around the 0.7000 level would signal a further move south
CABLE – 60min suggests this could break either way. The 15min suggests a break below the 1.5000 level would close the gap to the 60min 50ma at 1.4920. A move above the 15min 50ma at 1.5100 would suggest a move back to yesterdays high at 1.5250/5300. Look for a break or 123
EURUSD – A break above 1.3675 would suggest a further move to the MP at 1.3735. Need triggers inline but remember its not a huge gap so be careful. If EUR weakens this am look for a break below the WS2 level at 1.3529
Have a great day and lets see where London takes the market.
Dan
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GBPCHF was cheeky and many cut for a loss because EURUSD was heading south. Think that is wise for now and regroup and wait for next setup.
EURUSD needs to break the 60min 50ma and WS2 for a move lower.
GOLD - Trigger was hit at $846 and now trading at $840. Potential to still move lower to the $835 but banked part.
AUDUSD - With GOLD falling AUD fell as well and broke support and hit target at DS2 for 60 pips.
EURGBP - Broken support and the 15min 50ma from the 0.9035 level. Its slow but heading down to the figure as we speak.
CABLE - Will misbehave this am until interest rates come out at midday.
Have fun.
Dan
Is it friday yet??? No one told me babies would keep u up 24 hours a day!!!
See u tom.
D
Pipsters,
Before I go ride the cleaner and do my ironing (yes weekly chores Mrs Rock expects me to do as I'm home all week!), I wanted to share a few trades. Not going to put up charts this time as they are self explanatory. Playing the London open traded CABLE 15253 s/l 15410 short close at DP 5207 +46. Waited for break of DP and took another CABLE trade 15193 s/ 5230 short and closed at 5152 +41 pips. Only closed as we were approaching 930am and news announcements. I was also in gbpjpy based on 60m chart and trend down; really clear if you look at 15m chart 138.70 which was break of DP s/l 139.20 around last high, closed at wr2 137.71 +99, missed by 1 the round number due to slow processing!
I also traded WTI this morning 5m/15m charts being used 42.37 s/l 42.90 above MA's short closed at 42.05 +32 had hoped for more but was trying to get kids in car for school run and had to close early - I never leave WTI open unless I am sat in front of the screen.
I did lose a trade eurgbp 8982 s/l 8995 short closed at 8988 -6. Looked good on the charts but you win some and lose some!
OK total today 212 pips. A nice way to close out. Been a nice week and hit 567 which was a nice way to start 2009.
Off to ride my cleaner.
Maiden Rockie
p.s. Dan in the good old days before children (b.c) sleep was easy, nights out were long, getting up was a breeze and then suddenly it all came to a grinding halt. Some 12 years after our second was born we are just starting to enjoy life again. Happy Days!!!
Morning all
Morning All…Notes from the live room below...Its been a messy day and i got USDCAD and EURGBP totally wrong. Stupidly tried to pre empt the break...I got caught out in AUDUSD so wasnt a particularly very gd start for me. Very tough to be honest and a lot of teasing setups so very easy to get caught out
Made pips on short in USDJPY (still in) and GBPJPY (100p) and OIL (100p). Got out for flat in EURJPY and GBPCHF...
I have found it difficult today but onwards and upwards as they say. Its non farm at 1.30pm so conditions have been strange.
Dan
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OIL – Boxed in between the 4hr 50ma and 20ma. Look for break of either MA. Support at $43.5
GOLD – Found support off the 60min 20ma. Not looking for a long unless it breaks above the 4hr 50ma. However if it weakens this am watch the break of the 60min 20ma and 50ma at $851.00 for a move towards the WS2 at $843.00
AUDUSD – Boxed between the 4hr 20ma and 50ma. Look to play break. Support at WP at 0.7050 and top side resistance at 0.7125
EURUSD – Order still set below the WS2 at 1.3510. Boxed between the 60min 20ma and 50ma. Look for break. A break of the 50ma at the 1.3625 would signal a push towards the WS2 level
CABLE – Has had a strong run and 4hr ma´s look a little overbought. 15min chart shows a little strength as its above the 60min 20ma and DP at 1.5190. A 123 with trigger could see a push to old high but I have my reservations how high this go. A break below previous low at 1.5160 would see a pullback to the 60min 50ma
USDCAD – A solid retracement back to the 60min 20ma. A break below the 15min 50ma around the WS2 1.1820 level would signal a further move south. No long play unless we see a break above the DP and 4hr 20ma around the 1.1900 level
Happy pipping!!!
Dan
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USDJPY-Finding the Daily pivot and Weekly pivot quite hard to penetrate down at the 91.00 level. Hasn’t found much in the way of support off the daily 20ema at 91.50 so likely to continue its hasty retreat IF breaking the 91.00 number
GBPJPY-Has been trickling along the 4hr 20ema for a whole day (see 5m chart). Not likely to progress in a notherly fashion unless the 60m 20&50 are broken, circa 139.50 and looks far more interesting south IF that 4hr 20ema can succumb to so downward pressure.
EURJPY-A few of you managed to ’steal’ 50-100 on this one yesterday with a naughty richochet off the 60m 20ema. Very nicely played!It actually looks like this could continue down, but with the daily 50sma looming just below this will be a tricky area in which to trade with all the indecision the will be present in this region. A break of 124.40 could see this take on that lower regio
USDCHF-Boxed between the 60m 20&50 and still looking threatening to 10800 but a possible double bottom and no significant fresh lows yesterday tells me to tread with caution. 5m chart looks like a cheeky short for a few pips to 10900.
EURCHF-Looks like it’s found some temporary support on 5m and might be an indication of CHF weakness all-round for the time-being. Can’t really go long into the pivot and MA’s. Look elsewhere unless it breaks 14350 to the downs
GBPCHF-I quite liked this to the upside this morning. Waiting for 5m 1-2-3 to show the way and decided it might not be the way forward. After getting burnt a bit on this pair yesterday I am leaving this alone for now.Must see USDCHF steady above 10930 and cable to make some headway to confirm
Summary-A little vague this session, sadly.My main pick would have to be USDJPY IF it breaks 91.00. There is a lot of downside potential with the daily 20ema not holding so I will be looking to place a sell order at 90.90 with a stop at 91.55, targeting 87.00 for a slightly longer-term-play!!! EURCHF through 14950 would be a little alternative.
Zak
Hey Dan,
One question why do you not take oil earlier from DP? Trigger was in play looking at your charts? Or have I misread your charts. It looks like you took the trade on a break. My preference would have been to trade from DP in order to minimise my s/l. But would be interested in your thoughts. Yes, you are right I have finished my cleaning. Good exercise if nothing else and gets me big pips with Mrs Rock.
Have a great weekend - Party hard while you still can!!
Rockie
Hi all
Traded GBPJPY for a few cheeky pips just after NFP...
OIL is a good one for a south play. QUite a few in the room are short. Watch MP but this baby should break and go.
I am knackered and off to have a BBQ at home and a fine glass of Rioja.
Enjoy and have fun. Got to love this trading game hey!!!
D
Hey Dan, One question why do you not take oil earlier from DP? Trigger was in play looking at your charts? Or have I misread your charts. It looks like you took the trade on a break. My preference would have been to trade from DP in order to minimise my s/l. But would be interested in your thoughts. Yes, you are right I have finished my cleaning. Good exercise if nothing else and gets me big pips with Mrs Rock. Have a great weekend - Party hard while you still can!! Rockie
Hi Rock
12 years b4 i can go out again? You are having a laugh...
Anyone want to be my nanny? Double room and pool included. Must be able to cook BBQs, walk my dog, be under 23, femal and swedish. Please apply below.
Rock re the OIL. I did take 100 today from OIL but think i missed the one u r talking about. Got spanked by USDCAD, EURJPY and EURGBP for them to all be good trades later. Oh well thats trading and you need to get spanked and put back in the box sometimes. Cant win all the time. Not a bad day but could have been so much better...
Back on monday with a vengence...Havent had this amount of energy trading for ages and loving getting to know you all better in the room. Its a great team and bring on the pips!!!
D
Swedish au - pairs and spanking!
Wow, our ultra conservative Danny Boy is loosening up!
Let me know when you get them and I'll see if I can get permission from my "Oh Pair" to join in the party
Rock On
Swedish au - pairs and spanking! Wow, our ultra conservative Danny Boy is loosening up! Let me know when you get them and I'll see if I can get permission from my "Oh Pair" to join in the party Rock On
Swedish au-pairs, spanking, party!!!! Could go horribly wrong.
I think i am digging myself a hole.
Beautiful day here. Off to take my lazy dog for a swim in the sea.
Catch u later.
D
Its sunday and i want to trade!!!
Looking forward to next week.
See u at 7.00am.
D