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danarm
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Good afternoon
CABLE has now broken the DAILY 20ma and the triangle from friday. As we discussed orders should have been set below the 4hr 20ma at 1.4170 and above the 1.4405 level. This way u can sit back and watch the pips come your way!!!
See you monday.
Dan
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Dollaryen
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Thanks
Hi Rollingstone
I just wanted to join Bearface and others in passing on my thanks for the indicators and your encouraging words over your last few postings. You keep me amused and inspired while I am still existing in the real world and am very grateful for that. You are the unsung heroine and I'm sure there are plenty of other people who benefit from your grounded input. Keep it coming.
Thanks Dan, as always for your charts and your excellent strategy.
Cheers
DJ
Hi Bearface
Thanks for your kind words, glad to be of help.
YOUR TRADE
Woohoo, great start. Keep going on demo, there's no rush. A journey of a thousand miles starts with one step. Congratulations on taking that first step.
Have fun, keep up the hard work.
RS
Hi Rollingstone
I just wanted to join Bearface and others in passing on my thanks for the indicators and your encouraging words over your last few postings. You keep me amused and inspired while I am still existing in the real world and am very grateful for that. You are the unsung heroine and I'm sure there are plenty of other people who benefit from your grounded input. Keep it coming.
Thanks Dan, as always for your charts and your excellent strategy.
Cheers
DJ
danarm
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Good morning all, I hope you have had a great weekend.
USDJPY is looking like it’s suffering from altitude sickness and is trying to make a push through the weekly pivot.It has broken through the 4hr 20ema and now looking set to tackle the 4hr 50sma at 89.30.Having broken the support line I am looking for a 15m 123 on this pair.
GBPJPY is just retracing on the 4hr chart to the 20ema. With USDJPY looking likely to fall I will not be going long on this just yet.Not a shorting opporunity for me and would need to break 127.00 before I’d be interested.
EURJPY is still looking very very weak but finding an entry is going to be quite difficult just looking at the big wall of red on 4hr chart. I will be interested in a short position after a nice pullback to the 60m 20ema around the 127.50 level.
CHFJPY is one I am holding onto from Friday. Again, not an ideal scenario for just throwing one on but a possible after a 15m retracement.
To summarize……..I am looking to short USDJPY if it holds below this weekly pivot. Stop would be at 89.85 and trying to get an entry around 89.50-60.5m chart looking nice in next couple of candles.1st target is 4hr 50sma at 89.30, the DS1 at 89.20 then finally 88.80 being DS2.
Have a great morning.
Zak
USDJPY is looking like it’s suffering from altitude sickness and is trying to make a push through the weekly pivot.It has broken through the 4hr 20ema and now looking set to tackle the 4hr 50sma at 89.30.Having broken the support line I am looking for a 15m 123 on this pair.
GBPJPY is just retracing on the 4hr chart to the 20ema. With USDJPY looking likely to fall I will not be going long on this just yet.Not a shorting opporunity for me and would need to break 127.00 before I’d be interested.
EURJPY is still looking very very weak but finding an entry is going to be quite difficult just looking at the big wall of red on 4hr chart. I will be interested in a short position after a nice pullback to the 60m 20ema around the 127.50 level.
CHFJPY is one I am holding onto from Friday. Again, not an ideal scenario for just throwing one on but a possible after a 15m retracement.
To summarize……..I am looking to short USDJPY if it holds below this weekly pivot. Stop would be at 89.85 and trying to get an entry around 89.50-60.5m chart looking nice in next couple of candles.1st target is 4hr 50sma at 89.30, the DS1 at 89.20 then finally 88.80 being DS2.
Have a great morning.
Zak
danarm
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Good morning all
CABLE – After a solid break of the 4hr 20ma at 1.4375 on Friday, GBP has since fallen back to the 4hr 20ma. Please note how overbought the 60min 21 CCI was on Friday for the pullback. Support overnight is at 1.4343 and any play short would be into the 4hr 50ma so be careful. Any GBP strength needs to push above the 1.4420 level for a retest of Fridays high above 1.4500. Still a good idea to keep order below the 4hr 20ma incase of a break down!
EURUSD – The EUR is struggling as expected. 60min chart is oversold and risk of pullbacks so you need to be careful. Trend is down and I don’t particularly want to trade against it so continue to look for short entries until it breaks the 60min 20ma. Play triggers for momentum. Support at 1.2700…
EURGBP – If you are going skiing, you will be happy! 0.8800 is overnight support and look for further break of here. The 60min 20ma is resistance and trade as close as possible to this MA. The 4hr 20ma is a large gap away from the 60min 20ma. Wont look for any longs unless the EUR breaks above the DP at 0.8915 to close gap to the 60min 50ma.
USDCAD – Boxed between the DP and 4hr 50ma. Look for break of these levels. With GBP potentially weakening USDCAD should look to test the 4hr 50ma at 1.2365.
Dan
CABLE – After a solid break of the 4hr 20ma at 1.4375 on Friday, GBP has since fallen back to the 4hr 20ma. Please note how overbought the 60min 21 CCI was on Friday for the pullback. Support overnight is at 1.4343 and any play short would be into the 4hr 50ma so be careful. Any GBP strength needs to push above the 1.4420 level for a retest of Fridays high above 1.4500. Still a good idea to keep order below the 4hr 20ma incase of a break down!
EURUSD – The EUR is struggling as expected. 60min chart is oversold and risk of pullbacks so you need to be careful. Trend is down and I don’t particularly want to trade against it so continue to look for short entries until it breaks the 60min 20ma. Play triggers for momentum. Support at 1.2700…
EURGBP – If you are going skiing, you will be happy! 0.8800 is overnight support and look for further break of here. The 60min 20ma is resistance and trade as close as possible to this MA. The 4hr 20ma is a large gap away from the 60min 20ma. Wont look for any longs unless the EUR breaks above the DP at 0.8915 to close gap to the 60min 50ma.
USDCAD – Boxed between the DP and 4hr 50ma. Look for break of these levels. With GBP potentially weakening USDCAD should look to test the 4hr 50ma at 1.2365.
Dan
danarm
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Morning Trades
Morning all
Its been a good am with trades for me in CABLE short, long EURGBP and short AUDUSD.
I should have hit GBPJPY and USDJPY but not feeling that sharp today so only hit the 3.
CABLE - Short at 1.4344..Banked at 1.4310, 1.4280, 1.4252
EURGBP - Long on break of 60min 20ma 0.8885...Banked at 0.8930 & 0.8950 & 0.8960
AUDUSD - Short on break of DS1 at 0.6290...Banked part at 0.6260.
Feel awful so going home to bed. Video will be on the fx500clubblog with the summary.
See u tom. Zak and James will be running the afternoon session.
Dan
Morning all
Its been a good am with trades for me in CABLE short, long EURGBP and short AUDUSD.
I should have hit GBPJPY and USDJPY but not feeling that sharp today so only hit the 3.
CABLE - Short at 1.4344..Banked at 1.4310, 1.4280, 1.4252
EURGBP - Long on break of 60min 20ma 0.8885...Banked at 0.8930 & 0.8950 & 0.8960
AUDUSD - Short on break of DS1 at 0.6290...Banked part at 0.6260.
Feel awful so going home to bed. Video will be on the fx500clubblog with the summary.
See u tom. Zak and James will be running the afternoon session.
Dan
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Fantastic morning today. 75 pips, my best for a morning 
Cable behaved nicely and I entered 123's on the dot once or twice which was rewarding!
If I had stayed longer I think I could've made more on cable and usdjpy but at the moment i'm not a fan of leaving trades open while I go off to work! (even with stops etc!)
Roads were horrendous by the way! But so clear I got to work in the normal time!
Cable behaved nicely and I entered 123's on the dot once or twice which was rewarding!
If I had stayed longer I think I could've made more on cable and usdjpy but at the moment i'm not a fan of leaving trades open while I go off to work! (even with stops etc!)
Roads were horrendous by the way! But so clear I got to work in the normal time!
Fantastic morning today. 75 pips, my best for a morning
Cable behaved nicely and I entered 123's on the dot once or twice which was rewarding!
If I had stayed longer I think I could've made more on cable and usdjpy but at the moment i'm not a fan of leaving trades open while I go off to work! (even with stops etc!)
Roads were horrendous by the way! But so clear I got to work in the normal time!
Hey Kappa
Nice one! Making pips before breakfast is a great feeling, isn't it?
I'm doing a lot of "wish I'd kept my order, wish I'd kept hold of that trade" at the mo, but like you I still don't like to have open trades while I'm away from the computer.
Definately something to work on for the future though, so many more pips to be had
Many more 75 pip mornings to come!
Julie
Great morning, cheers Dan!
Hey Kappa
Nice one! Making pips before breakfast is a great feeling, isn't it?
I'm doing a lot of "wish I'd kept my order, wish I'd kept hold of that trade" at the mo, but like you I still don't like to have open trades while I'm away from the computer.
Definately something to work on for the future though, so many more pips to be had
Many more 75 pip mornings to come!
Julie
Yep, until I learn more, the best thing I've learnt is to just say, 'oh well, another chance will pop up soon' and just leave it (even though you close your position then it goes in your favour 50 pips in 30 seconds!). After being in the room for good few weeks I've learnt that, if I miss out on an opportunity, it will turn up again. Something Dan always drills home!
You'll go mad otherwise!
Kapil
danarm
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The USD Desk - Tuesday 3rd February
Good morning all
Not sure if I can talk so James and Zak will be running the live room again this am.
CABLE – Looks weak again. Boxed between the 4hr 20ma and 50ma. The WP will be 1st line of support at 1.4154 and the 4hr 50ma will be 2nd line of support. The psychological support of 1.4000 will need to be broken again. If we can drive the price through here the lows at 1.3500 will be surely tested again. I won’t be looking for any long plays unless we break back above the daily 20ma. Play triggers again here as WP will need momentum behind to break it.
EURUSD – 15mimn chart suggests strong support below with the 60min 20ma and 50ma. 60min chart suggests heavy resistance above with the 4hr 20ma and 50ma. On any short play wait for a break of the DP at 1.2800 and be careful for any long play. There is a lot of resistance so u will have to play the gaps between the MA´s. Personally will only be trading this if it breaks down below DP.
EURGBP – With EUR finding support the EURGBP is either setting up for a double top on the 60min chart or its going to make a push to break the MP at 0.9090.I will only be looking for a short play here, unless we break the Monthly Pivot. If EURUSD weakens and CABLE holds the 4hr 50ma, look at EURGBP for the break back below the 60min 20ma.
USDCAD – WR1 (1.2460) is proving to be a strong resistance. Look for a break if USD continues to power up against other currencies.
AUDUSD – The oversold market found support as expected yesterday…Only look for short plays if and when trend reverses eg lower highs or lower lows. At moment the 4hr 20ma will be resistance and 60min 20ma support. Wait for confirmation in change of direction.
GOLD – Boxed between the 4hr 20ma and 50ma.. There is 100 pips down to the WS1 level at 890.00. Resistance will be the 60min 20ma so looking for short plays to the 4hr 50ma. Play trigger and stop above the 4hr 20ma.
Have fun…Great day yesterday and lots of pips made.
Dan
Good morning all
Not sure if I can talk so James and Zak will be running the live room again this am.
CABLE – Looks weak again. Boxed between the 4hr 20ma and 50ma. The WP will be 1st line of support at 1.4154 and the 4hr 50ma will be 2nd line of support. The psychological support of 1.4000 will need to be broken again. If we can drive the price through here the lows at 1.3500 will be surely tested again. I won’t be looking for any long plays unless we break back above the daily 20ma. Play triggers again here as WP will need momentum behind to break it.
EURUSD – 15mimn chart suggests strong support below with the 60min 20ma and 50ma. 60min chart suggests heavy resistance above with the 4hr 20ma and 50ma. On any short play wait for a break of the DP at 1.2800 and be careful for any long play. There is a lot of resistance so u will have to play the gaps between the MA´s. Personally will only be trading this if it breaks down below DP.
EURGBP – With EUR finding support the EURGBP is either setting up for a double top on the 60min chart or its going to make a push to break the MP at 0.9090.I will only be looking for a short play here, unless we break the Monthly Pivot. If EURUSD weakens and CABLE holds the 4hr 50ma, look at EURGBP for the break back below the 60min 20ma.
USDCAD – WR1 (1.2460) is proving to be a strong resistance. Look for a break if USD continues to power up against other currencies.
AUDUSD – The oversold market found support as expected yesterday…Only look for short plays if and when trend reverses eg lower highs or lower lows. At moment the 4hr 20ma will be resistance and 60min 20ma support. Wait for confirmation in change of direction.
GOLD – Boxed between the 4hr 20ma and 50ma.. There is 100 pips down to the WS1 level at 890.00. Resistance will be the 60min 20ma so looking for short plays to the 4hr 50ma. Play trigger and stop above the 4hr 20ma.
Have fun…Great day yesterday and lots of pips made.
Dan
danarm
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The JPY Desk - Tuesday 3rd February
Good morning all. I hope you are all revelling in your wealth of pips from yesterday. A great day across the board according to reports back to me last night, so well done to you guys who racked in 300 plus on just a few trades.
Swiftly moving into today before the moves happen, GBPJPY looks pretty solid IF it breaks below the weekly pivot at 126.65. I’ll be looking at my 5m chart to find a short entry below this level.
USDJPY-Caught me yesterday after being 70 pips up then giving it all away. A lesson to take from that about turning profit into loss. Live room trades should be in and out, not “holding it all day” material, so apologies there. I hope a few of you banked some or all with a profit.
We need to see a break below the daily pivot at 89.35. I am not looking for any long position in this pair.
EURJPY-Needs to break the daily pivot at 114.60 and with the 60m chart saying “double-top” I would not be surprised to see this level go.
Play the 123 on 5m chart if it does.
GBPJPY-Watch 126.60. That’s the level, targeting 125.00!
CHFJPY-Needs to break previous low of 76.70 to show me this could move lower.
Summary……..
I am watching cable for sterling weakness and see a nice opportunity IF the .60-.65 level breaks on GBPJPY. My stop would need to be beyond the daily pivot at 127.25, so a 60 pip risk with a possible 200 pip reward.
More to follow.
Zak
Good morning all. I hope you are all revelling in your wealth of pips from yesterday. A great day across the board according to reports back to me last night, so well done to you guys who racked in 300 plus on just a few trades.
Swiftly moving into today before the moves happen, GBPJPY looks pretty solid IF it breaks below the weekly pivot at 126.65. I’ll be looking at my 5m chart to find a short entry below this level.
USDJPY-Caught me yesterday after being 70 pips up then giving it all away. A lesson to take from that about turning profit into loss. Live room trades should be in and out, not “holding it all day” material, so apologies there. I hope a few of you banked some or all with a profit.
We need to see a break below the daily pivot at 89.35. I am not looking for any long position in this pair.
EURJPY-Needs to break the daily pivot at 114.60 and with the 60m chart saying “double-top” I would not be surprised to see this level go.
Play the 123 on 5m chart if it does.
GBPJPY-Watch 126.60. That’s the level, targeting 125.00!
CHFJPY-Needs to break previous low of 76.70 to show me this could move lower.
Summary……..
I am watching cable for sterling weakness and see a nice opportunity IF the .60-.65 level breaks on GBPJPY. My stop would need to be beyond the daily pivot at 127.25, so a 60 pip risk with a possible 200 pip reward.
More to follow.
Zak
mauzj
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