It's All About The Pips...

[danarm]

Morning all

Its cold here but hopefully the sun will come out to play late morning...

OIL - Higher lows and higher highs. The 4hr 20ma is still below the 4hr 50ma but the squeeze is on. Look to buy on dips until it breaks the clear support level on teh 60min chart. A retest of the WR1 level should be tested again.

EURUSD - I am gutted i missed this one. I have made 90 pips and its moved 700pips. I read the break perfectly but hesistated and before i knew it, it was off. Thats trading but a real shame as easy pips got away! EUR is very toppy here but also bid. There is a good chance of a pullback to the 60min 20ma so look for a cross on the pullback. Will go through this in detail in teh live chat when u can see my charts.

CABLE - What a move yesterday. At least i nailed this one. Again it needs a pullback after flat lininig. Only problem is the 60min 20ma isnt a huge distance away. Any break of this would see a further fall off. Any break of the WR2 would push to MP. Clear support line on 60min chart that i will be watching closely.

USDCAD - Still like USDCAD lower but it needs to break support level. Will go into this live with you.

AUDUSD - Trying to get higher but seems to be struggling. With GOLD a little toppy i need to ask questions but going to stick with the view that this should push higher. A break of 0.6750 is much needed and it needs to hold the daily 50ma.

I also cover 3 JPY and 3 CHF pairs for anyone interested.

Cheers

Dan

 

[tlmaffiliates]

Very Interested in your views

Hi

This is my first posting on this site. Your introduction caught my attention. I am very interested in money management strategies and look forward to reading your thoughts on the subject aswell as your views on how to best trade the fx markets. I to would like to be somewhere nice/warm enjoying a better quality of life.

 

[tlmaffiliates]

Hi

Forgive my ignorance but how doe's one join your live chat room. Thanks in advance.

 

[danarm]

Morning all

As planned the pullbacks are on.

CABLE, EURUSD and EURCHF been very profitable for the group.

Cheers

Dan

PS Off for a quick breakfast.

 

[mauzj]

Hi Dan,

Under what conditions will you short a currency if it's above the longer term moving averages?

Cheers,

Mauzj.

 

[danarm]

Usdcad

USDCAD...Been waiting for this from 25.

Pefect break..Need it to break the MP for a solid move lower.

EURUSD and CABLE have shown a good bounce off DP and cross of MA´s.

Dan

 

[danarm]

Gold

Keep an eye on this Gold if EUR remains supported.

Cheers

D

 

[danarm]

Oil

Watch OIL as well...

 

[danarm]

Hi guys

Ok i am off...Great day overall.

GOLD worked out a treat for 60pips, USDCAD 75+, OIL 100 and more pips from this am with small short on cable and small short eur...

Well done today.

Have fun and speak tom.

D

 

[danarm]

Morning all

Hope you all made some good pips yesterday.

Gold - As expected GOLD has gone bid and hit the target of 850.00. Its had a great rally so watch the 60min 20ma for support. Any break of that should signal a pullback to the 60min 50ma.

EURUSD - What a rally yesterday after the States cut 0.75BPS to 0.25%. Not a lot of amo left but they have had to do this...Short term charts suggest a pullback and look for cross of 5min and 15min 20ma. Any break back above teh 15min 20ma would suggest a further play higher.

CABLE - Wow - 1.5700 was hit but again we are faced with teh possibility of a london open with a pullback. Watch the 5min and 15min 20ma again for this.

USDCAD - Posted this one for you yesterday. What a trade and what a good amount of pips to be taken. Perfect break of the MP and a solid move lower. Again is the USD retraces elsewhere watch the short term charts for a pulback this am.

AUDUSD - Most have been long from 0.6600 and 0.6700 level so you should all be up 300ish pips. Look to buy on dips but again for this session we need to be aware of pullbacks.

Ok off to the live session.

Thanks
Dan

 

[danarm]

Morning all

Another solid morning...

Hat off to Bob Andrews banking 500 pips on teh two trades in AUD and CAD.

This morning gave us a few opportunites short of EUR from 85 for 30 pips. CABLE short from 95 down to 50 for 45 pips.

Hands up i messed up with the long on EURUSD. Full apologies and missed that one.

USDCAD looking good for pullback as well so watch it closely.

Overall a great week so far.

Dan

 

[danarm]

Usdcad

Afternoon all

As mentioned through all the morning session USDCAD was going to pullback to the 60min 20ma.

Perfect 100 pip trade.

Keep up the good work and what a December its turning out to be!!!

Dan

PS Really got some good plans for this room. Its going to be a great 2009..

 

[danarm]

Afternoon all

Perfect break on EURUSD above the 1.4130 and short USDCAD from 48 down to 15.

Overall a great day again...

August was the last month that kicked off like this... October was slow and hardly traded...November a little better and then this loveable month December...What a beauty and a great end to 2008.

Patience is everything and the difference between traders...

Its so important to keeps the pips in the bank when the charts are hard to read and then times like this you bank as many pips as you can.

Great...Enjoy...I am off for a good glass of red.

D

 

[danarm]

Morning all

AUDUSD - All ma´s are still suggesting a long but there is a large gap between the 60min 20ma and the 4hr 20ma. Any pullback through the 60min 20ma should suggest retracement. Otherwise look to buy off DP with a reversal if it breaks.

GOLD - A bid market but looking heavy. Any break of the 60min 20ma and MR1 would suggest a move lower to close the gap down to the 4hr 20ma.

EURUSD - What a move yesterday and EUR is finishing 2008 very strongly. Yes its bid and yes you should be buying on dips but please it needs a pullback. The bungee strategy has to come back into play here on the 60min chart.

CABLE - GBP needs to break the daily 50ma. There are so many mixed views on cable but i will stick to myguns and i still believe the 1.4200 will get hit again soon and broken. Today however we are at a critical level. Will it break or double top so draw a resisatnce line on your chart now. If it cant break teh old high it will get tired and pullback to the 60min support line from earlu december.

USDCAD - Great 45 pips yesterday and come in today to see our support line get broken. Oh i wish i had placed an order or that i didnt have to sleep. At WS2 support now. Any break below this support would suggest a further move lower.

Have a great day.

EURUSD looks best on the pullback,

Dan

 

[danarm]

USDCAD and EURUSD

Moring all

70 pips in EURUSD and 50 pips in USDCAD.

Well done to the team this morning.

Lets keep the 100 pip mornings consistent.

Dan

 

[danarm]

Eurusd

Hi

Just been for a scan with the wife and all looking good.

I have to say i am really enjoying my trading at the moment. Went long on break of the 1.4450 in EUR and then in again on the 123...

Banked at 75 for part b4 running out and hit TP 100 pips higher.

Good solid day again and love making 200+ pips a day. Hungry for pips so on the hunt again and looking forward to this afternoon.

Well done to you all in the room. Great results...

Dan

 

[danarm]

Cable

Hi

Watch CABLE break of WR2 and 4hr 20ma. Make sure u get triggers in line on short term entry.

Dan

 

[danarm]

Oil

Hi

Watch OIL..Could be interesting on the break of support at 85/90.

Dan

 

[danarm]

OIL and CABLE

Hi

CABLE 100 pips

OIL 85 pips.

Well played to the team... Building nicely for a 500 pip day.

Cheers

Dan

 

[danarm]

Hi all

Top student made just under 500 pips today...

I am seriously impressed with how the team is moving forward.

Well done to you all.

Dan