Currency Trading (Nov 27th - Dec 1st)

[ChowClown]

Well at least today is making up for yesterday's debacle. Still holding my long from overnight, up about 100 pips as we speak.

Good to see, a_g. Nice way to end the month.

 

[dc2000]

whats SIBKISS chow

 

[ChowClown]

whats SIBKISS chow

http://strategybuilderfx.com/showthread.php?t=9388

You might have to reg, if not already.

 

[candles]

2$ to the £ tomorrow?

 

[dc2000]

cheers chow will take a look later

looks like Im going to be short cable in the not too distant

 

[ChowClown]

...entry signal in play and will be long on a traders trick if the R:R stacks up at the time and it's not too late in the day - if not in by 6 i'll leave it.

...haven't been able to catch this leg up without chasing so far, so still sitting on hands.

 

[City Bound]

This is so flipping typical! I get a good position early on, get kicked out on the retrace, spend the rest of the day making largely good calls but bailing out early on the winners. That results in me jacking it in as all I'm doing is bleeding cash. Then, just to take the p*ss, the Chicago PMI comes in stupidly weak! At this point I'm away from my computer having closed my long minutes because the previous data did nothing.

So on a 250 odd pip day I end up making a loss! Lady luck has left me...or maybe she went for a nap.

 

[ampro]

I have to get out of bed - wife pulls the duvet off and the cat yells for its' food

You using 60ma momentum trading bands on that 5m chart Neil by any chance? (post 173)

Long time since I've seen anyone with that particular set up. How d'ya find it?

 

[ChowClown]

...you're not alone, i'm down 30 on the day. New start tomorrow.

Good night all.

 

[neil]

You using 60ma momentum trading bands on that 5m chart Neil by any chance? (post 173)

Long time since I've seen anyone with that particular set up. How d'ya find it?

It is borrowed from Newtron Bomb who used to post here. He uses it on a 15 minute chart. You use Metatrader to set up the ema then set two ma's minu and plus 20 above / below the ma. The ma is 100 but he states others can be used.

See here:

http://www.trade2win.com/boards/showthread.php?t=6432

I am only testing it live. I still use b/outs and/or price action.

Here is a 15 minute chart with newtrons settings (Ignore the 30ema - that is a Weinstein thing I am testing)

 

[dc2000]

still short only looking for 580 then that will do for the week

 

[ampro]

It is borrowed from Newtron Bomb who used to post here. He uses it on a 15 minute chart.

Ah, ok I see. It's not what I originally assumed.

Thanks for the reply.

 

[dewi141]

have moved my stop to b/e. Very tempted to close and go short soon but no obviuous reason to sell at the moment.

moved stop to 9650. tempted to short this, but still no signal, so maybe cable will spike to 2 before reversing?

 

[Sterile]

I just cant see any way it wont get to 2 - every day it's flying

 

[ChowClown]

Morning all,

vebo orders 9792.9 long, 9672.5 short. Another large Asian range, so vebo unlikely to deliver the goods again today, but i accept the risk.

My 60min trend signal = weak long and under further pressure now. Will wait for the 9am open and if still signalling long look for a 5min entry.

Good luck all.

 

[Offshore Trader]

I just cant see any way it wont get to 2 - every day it's flying

It's when a market is most bullish, that it's most vunerable. There need to be continually more buyers to take it higher but with loads of bulls there are lots of people ready to bale out if it starts going South. There is plenty of scope for a decent retracement without effecting the trend.

 

[City Bound]

We've got some good data coming out today. If UK PMI is strong we could see a move up as people reflect on the difference between it and the Chicago PMI. I'd have said that the ISM PMI at 3:00 would be similarly weak and should also send us higher. I can't see a reason in the fundi's for a significant move down. The last time we were up here the US economy was relatively strong, not any more it seems.

 

[Offshore Trader]

Morning all,

vebo orders 9792.9 long, 9672.5 short. Another large Asian range, so vebo unlikely to deliver the goods again today, but i accept the risk.

My 60min trend signal = weak long and under further pressure now. Will wait for the 9am open and if still signalling long look for a 5min entry.

Good luck all.

So,given the last few days the low bid of the day should be 1.9672.0 and the high offer 1.9793 :cheesy:

 

[City Bound]

Germany PMI = 58.3 = above expectations

France PMI = 56.5 = above expectations

Itlay PMI = 56.2 = below expectations

UK PMI = ?

 

[ChowClown]

So,given the last few days the low bid of the day should be 1.9672.0 and the high offer 1.9793 :cheesy:

...that's it, a new daily range indicator in the making. :idea: :cheesy: