It's All About The Pips...

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Good morning

Wall Street Future continues to climb and at some point soon I would expect this to retrace back to its MP & WP at 8,500. This impact would surely lead to a stronger USD for a short time.

However the USD does remain in a downward trend for now. The 1st sign of strength would be for the USD Index to break back above its DP at 79.00. Personally for real confirmation I would like to see a silver cross of the 60min 20ma and 4hr 20ma.

Wall ST and USD Index this morning do not give us concrete evidence of direction, so lets play the cautious approach, which was very different to yesterday.

CABLE
• Both longer term CCI´s are green, suggesting further strength in GBP
• However short term CCI´s are red suggesting a retracement is on for now.
• DP is at 1.6480 which was yesterday’s key resistance and consequently key support now.
• A break through 1.6480 would see a potential pullback to our original break at 1.6430.
• 1st level of support is 1.6492 and then 1.6480.
• 1st level of resistance and neckline is at 1.6525 and then 1.6556
• Patience is needed here

EURUSD
• Longer Term CCI´s are green suggesting further strength
• However short term CCI´s are red suggesting a retracement is on for now
• Potential Double bottom on DP with neckline at 1.4218 with key resistance at 1.4249
• A break through the DP at 1.4193 would see a potential pullback to the 60min 50ma at 1.4165 region.
• Patience is needed here.
 
We have been watching EURJPY with interest all morning. We have seen relative EUR strength against the USD, this has helped pull EURJPY back up off the 4 hourly 20 MA. Now looking for a possible break of the 134.10 level looking to retest the previous resistance at 134.60/70. A low risk trade and aim to bank up at the previous resistance levels whilst moving stops in tight ahead of earnings reports out this afternoon.
 
Wall ST Future is relentless..Glad we held off and stuck to our discilpined approach to the strategy.

A video has been sent out re UJ and Wall St but with this relentless buying and earnings out later i think we might need to be patient on the H&S in UJ.

Cheers
D
 
Whoa, respect!

Hi Dan

I didn't trade today, nothing leapt out at me saying "take me, take me" like yesterday so I kept my pips safely in the tin. I did however learn lots today, the most staggering thing was that Beyonce is your girlfriend! Whoa, way to go Dan. :cheesy:

Looking forward to some more revelations tomorrow.

See ya.

RS :)
 
The grab attack continued today however interestingly as the bond gappedtighter so did the CDS. Bottom line it feels as though shorts are beingtaken off and punters are strapping on some bonds for some nice summercarry and maybe a little capital appreciation. Clients all over me likeone of my suits in the morning and then a little profit taking in theafternoon. I'll be honest it really does feel like the last 18 monthshas been a bad dream (I call it a Bobby Ewing moment for people whoremember Dallas!) and the good old fashioned carry trade is back invogue. The good news about this rally is that we are now looking at thepossibility of seeing some EM new issuance. High grade syndicate deskshave been beehives of activity all year, EM on the most part stillquiet. That said there is a new Gaz deal on its way at a screen nearyou. The one thing I don't understand is why these deals are stillbeing priced to go, correct me if I am wrong but we are in a mad bullmarket where anything with a reasonable spread and rating will fly outthe door so why not price it accordingly? If this rally continuesexpect more issuance from the quasi space. Buy the dips continues to bethe right way to trade this market even though I vehemently don't agreewith the V shaped recovery and fear this will all end in tears yet again.
 
Rollingstone said:
Hi Dan

I didn't trade today, nothing leapt out at me saying "take me, take me" like yesterday so I kept my pips safely in the tin. I did however learn lots today, the most staggering thing was that Beyonce is your girlfriend! Whoa, way to go Dan. :cheesy:

Looking forward to some more revelations tomorrow.

See ya.

RS :)
Click to expand...

Why is this staggering RS?

:) :) :) :)
 
Hi,
Just been reading through your thread and wanted to hi, im new to this all and it is very interesting to read your thoughts, I have so much to learn, so thank you for sharing. I will definitely keep following your posts! :)

Julz
 
So far, another tough week but fair play to Dan, James and Zak. Ive still been hitting my daily targets.

Cheers Guys,

Brett
 
another nice cable

At the risk of sounding like a stuck record...

...another nice cable breakout this morning, banked my 40 pips just ahead of the MP, all done by 0830, just how I like to start the day :) Some I'm sure held for more like 70 pips but I'm well happy (y)

RS, missed the Beyonce revelation yesterday! hope you're not too upset Ken, what a tart!

P.S. Where is everyone?
 
I'm here...

jel31 said:
At the risk of sounding like a stuck record...

...another nice cable breakout this morning, banked my 40 pips just ahead of the MP, all done by 0830, just how I like to start the day :) Some I'm sure held for more like 70 pips but I'm well happy (y)

RS, missed the Beyonce revelation yesterday! hope you're not too upset Ken, what a tart!

P.S. Where is everyone?
Click to expand...

Hi Julie

Well done on your pips, I tinned some lovely piperoonies too, lots of us did. I've exceeded my weekly target just on two cable trades this week, how fab is that! (thanks Dan).

I know Julie :LOL:, that Beyonce :LOL:, poor ol' Ken. Dan just came out with it in the room, cool as a cucumber. He's a boy. It was his halo that started it all. Mind you, he is a bit of a catch, us mere mortals don't stand a chance. :(

Have a good day, shall we go round and cheer Ken up later with lots of chocolate?

RS
 
Rollingstone said:
Hi Julie

Well done on your pips, I tinned some lovely piperoonies too, lots of us did. I've exceeded my weekly target just on two cable trades this week, how fab is that! (thanks Dan).

I know Julie :LOL:, that Beyonce :LOL:, poor ol' Ken. Dan just came out with it in the room, cool as a cucumber. He's a boy. It was his halo that started it all. Mind you, he is a bit of a catch, us mere mortals don't stand a chance. :(

Have a good day, shall we go round and cheer Ken up later with lots of chocolate?

RS
Click to expand...


Sounds like a plan, I've got 2 x Fruit & Nut and a giant bag of Cadbury buttons, do you think that'll be enough?

That's great to have exceeded your weekly target by Wednesday morning! I'm a huge fan of CABLE as you know, 2 or 3 of those moves a week and I'm very happy indeed. I do feel a bit boring though, it's all I can talk about :sleep:

Good to see you're here, I was getting a bit lonely. Maybe I should get on with a bit of work instead ha ha

Where are you Dan? :)
 
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LOL !

This Beyonce / Dan biz somebodies idea of a joke ?

Last I heard she married Jay-Z last year ???

:LOL:
 
Also caught the cable trade this morning. Thanks James. Dan, I forgive you over Beyonce. Give me pips anyday.

You girls are welcome anytime with chocolate (prefer Galaxy though). ;)
 
jel31 said:
Sounds like a plan, I've got 2 x Fruit & Nut and a giant bag of Cadbury buttons, do you think that'll be enough?

That's great to have exceeded your weekly target by Wednesday morning! I'm a huge fan of CABLE as you know, 2 or 3 of those moves a week and I'm very happy indeed. I do feel a bit boring though, it's all I can talk about :sleep:

Good to see you're here, I was getting a bit lonely. Maybe I should get on with a bit of work instead ha ha

Where are you Dan? :)
Click to expand...

Dan is probably off canoodling with B (sorry Ken).

We can be boring together because I'm a huge Cable fan too, I feel really comfortable with it, you sort of know what to expect and it delivers consistently if you wait for the best set-ups, I'm really loving the London Open at the mo, much better than the afternoon sesh.

I can add some Cadburys Caramel, the last of my Cadburys Mini Eggs and three chocolate brownies. Sounds like we're on!

RS

Oooh, got Galaxy too.

PS Actually Dan is still in the room, masquerading as James, looking after all the afternoon pipsters (before I get in trouble).
 
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Good Morning all,

With WSFUT breaking the June highs yesterday we now see it settling just above the 8850 level. This morning I can see both sides with USD weakness and strength so I will be looking for break out plays on both EUR and GBP

GBPUSD:

• Daily Pivot is now above the 4 hourly and hourly 20 this to me suggests further moves down to be expected.
• A break through the lows at 1.6385 would trigger a move to the MP at 1.6340 and potentially to WP at 1.6300
• To play to the upside I would like a break of the Daily pivot and a 123
• 4 hourly 20 may act as a major resistance level so we might look for the kiss there.
• Play the breaks if you are unsure.


EURUSD

• Has really struggled to break through the previous highs and make an attack on the 1.43 or 1.45 level.
• This morning we have again the DP above the hourly 20 and the potential that this MA will act as a major resistance now.
• I am looking for a break of the 4 hourly 20 MA at 1.4170
• To the upside I will be looking for a break of the DP and 1.4230


Verdict:

Personally at this moment in time it looks as if there may well be a small amount of dollar strength this morning so I will be looking for early selling opportunities.
 
Afternoon all

Well what a morning and good to see a few of you make your weekly target from our CABLE trades on Monday and Wednesday.

I dont know how often i need to remind myself not to trade the afternoon sessions. If you can make 500 pips per week b4 10am why bother trading the US open. I am still short DOW Future and UJ. After being 60 pips up in UJ and only banking 50% at DS1, i am now back to flat at DP. Wall St was silly and i will blame that on James. We are 40 pips down and have a stop not far above from here
:(

I wont run this out of court too much as hits have to be made, but technically this beast needs to pullback. A good trader knows when to take a hit no matter how much it hurts. It purely offsets my UJ from the day which is purely frustrating rather than hurting too much on the pip count. At least CABLE was a cracker and we made a lot there so happy days again with the morning session.

Ok well backs to the wall and watching DOW as we speak. Infact shorted again at the figure so hedged in at not too bad a level....Get down u beast!!!!

See u tom

D
 
Bought back some DOW at 70 to reduce risk after selling at 8900

Will leave 50% stake on for now.

Limited risk.

D
 
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