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danarm
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London Open - Monday 2nd March
Good morning team London…
I trust you are all well and had a good weekend…
CABLE
• A lot of support below at 1.4100/50 level…(How many times can it test this level)
• 2 possibilities. 1) Its building up to smash the 1.4100 support for a big push lower or 2) 1.4100 will hold and the market gets tired of testing this support and we rally to 1.5000 and higher.
• 4hr MA´s are still heading south so heavy resistance at WP at 1.4300.
• Very hard to read direction.
• For any short plays keep a very tight stop above 60min 20ma, likewise any long plays look for break back above the 60min 20ma and a tight stop below.
• Watch GBPJPY for direction this am.
EURUSD
• Our call on EUR weakness from 1.2700 has been spot on and we now need to break below the 1.2500 level for confirmation of further EUR weakness.
• Look for further EUR weakness but wait for retracement before looking for further EUR weakness.
• Use the 60min 20ma and DP as resistance on 15min chart and watch EURJPY for EUR direction.
EURGBP
• A 4 hr triangle has formed.
• The direction of GBP is hard to read as GBPUSD is closely boxed in.
• Feeling is that EURUSD will continue its downtrend and if CABLE can hold the 1.4100 level then EURGBP will weaken (gladly).
• 4hr 50ma at 0.8860 level, if this holds and trigger starts to move south then an opportunity will arise here.
• 15min chart is showing tight channel, a break below the 0.8825 level would signal further weakness.
• You could look for a short play with a tight stop above the 0.8865 level.
• Look for EURUSD and CABLE to help with direction.
Verdict
• I feel unsure of direction this am.
• Patience needed…
Dan
Good morning team London…
I trust you are all well and had a good weekend…
CABLE
• A lot of support below at 1.4100/50 level…(How many times can it test this level)
• 2 possibilities. 1) Its building up to smash the 1.4100 support for a big push lower or 2) 1.4100 will hold and the market gets tired of testing this support and we rally to 1.5000 and higher.
• 4hr MA´s are still heading south so heavy resistance at WP at 1.4300.
• Very hard to read direction.
• For any short plays keep a very tight stop above 60min 20ma, likewise any long plays look for break back above the 60min 20ma and a tight stop below.
• Watch GBPJPY for direction this am.
EURUSD
• Our call on EUR weakness from 1.2700 has been spot on and we now need to break below the 1.2500 level for confirmation of further EUR weakness.
• Look for further EUR weakness but wait for retracement before looking for further EUR weakness.
• Use the 60min 20ma and DP as resistance on 15min chart and watch EURJPY for EUR direction.
EURGBP
• A 4 hr triangle has formed.
• The direction of GBP is hard to read as GBPUSD is closely boxed in.
• Feeling is that EURUSD will continue its downtrend and if CABLE can hold the 1.4100 level then EURGBP will weaken (gladly).
• 4hr 50ma at 0.8860 level, if this holds and trigger starts to move south then an opportunity will arise here.
• 15min chart is showing tight channel, a break below the 0.8825 level would signal further weakness.
• You could look for a short play with a tight stop above the 0.8865 level.
• Look for EURUSD and CABLE to help with direction.
Verdict
• I feel unsure of direction this am.
• Patience needed…
Dan
danarm
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GOLD , AUDUSD & USDCAD - Monday 2nd March
GOLD:
• After a solid retracement on the daily chart back to 930 and global indices plummeting we may see increased buying coming back into the market.
• Daily 21 CCI is on the 00 level and is looking for a bounce.
• Hourly Chart shows us boxed between the 4hourly and hourly MA’s a break of the weekly pivot (958) would signal a move higher, targeting the previous high of 977
• To the downside we are seeing a lot of support off the daily 20MA so we would need to see a clear break and then a 123 before playing down to the daily 50 MA.
AUDUSD
• Looks difficult to trade after a great 123 on the hourly chart on Friday.
• I will be looking for pullbacks into the hourly 20 MA before playing this back down again.
USDCAD
• Again USDCAD has had a great move up last week and now really needs a pullback on the hourly towards the 20MA
• On the 15 minute we do have an downward sloping resistance level obviously look for resistance of this but if this gets broken at around the 75 level look for it to retest the 1.2800 a break of this and we will see this moving higher still this week.
• I will be looking for a pull back into the 60 Min 20MA around the 1.27 level before playing the CAD.
James
GOLD:
• After a solid retracement on the daily chart back to 930 and global indices plummeting we may see increased buying coming back into the market.
• Daily 21 CCI is on the 00 level and is looking for a bounce.
• Hourly Chart shows us boxed between the 4hourly and hourly MA’s a break of the weekly pivot (958) would signal a move higher, targeting the previous high of 977
• To the downside we are seeing a lot of support off the daily 20MA so we would need to see a clear break and then a 123 before playing down to the daily 50 MA.
AUDUSD
• Looks difficult to trade after a great 123 on the hourly chart on Friday.
• I will be looking for pullbacks into the hourly 20 MA before playing this back down again.
USDCAD
• Again USDCAD has had a great move up last week and now really needs a pullback on the hourly towards the 20MA
• On the 15 minute we do have an downward sloping resistance level obviously look for resistance of this but if this gets broken at around the 75 level look for it to retest the 1.2800 a break of this and we will see this moving higher still this week.
• I will be looking for a pull back into the 60 Min 20MA around the 1.27 level before playing the CAD.
James
danarm
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JPY Notes - Monday 2nd March
Good morning all.
I hope you’re all well and relaxed after the weekend break.
USDJPY
• Still above the 4hr 20ema and technically still long unless it breaks down through 97.00
• On the upside we need to see a break of 98.00 as 60m m.a’s have crossed indicating possible bearishness
• Not really looking for a positions here
GBPJPY
• I’m a bit undecided here at the moment
• Wedged in between 4hr 20&50 needs some clearer direction before I’m getting excited
• A break of WP at 13800 could see it push lower yet a push above 60m 50sma at 13950 could see it pushing higher
• Again, not looking for anything here unless I have confirmation from both USDJPY and GBPUSD
EURJPY
• Looks to have found some support of WP so needs to break 12200 now to see it lower
• Can’t touch it on the upside unless it breaks 60m 20ema at 12400
Verdict…….
EURJPY does look the best of these IF it breaks down but need EURUSD to push lower too.
Zak
Good morning all.
I hope you’re all well and relaxed after the weekend break.
USDJPY
• Still above the 4hr 20ema and technically still long unless it breaks down through 97.00
• On the upside we need to see a break of 98.00 as 60m m.a’s have crossed indicating possible bearishness
• Not really looking for a positions here
GBPJPY
• I’m a bit undecided here at the moment
• Wedged in between 4hr 20&50 needs some clearer direction before I’m getting excited
• A break of WP at 13800 could see it push lower yet a push above 60m 50sma at 13950 could see it pushing higher
• Again, not looking for anything here unless I have confirmation from both USDJPY and GBPUSD
EURJPY
• Looks to have found some support of WP so needs to break 12200 now to see it lower
• Can’t touch it on the upside unless it breaks 60m 20ema at 12400
Verdict…….
EURJPY does look the best of these IF it breaks down but need EURUSD to push lower too.
Zak
danarm
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A tough morning in the room but a few pips made in GOLD, EURGBP and EURUSD...
Barry M was student of the day with 130 pips. Some decided not to trade and others crept in with a solid 30-60pips...
78 pips for me so happy to get off to a good start. Not as much as Barry but happy overall in these conditions.
See u later.
Dan
Barry M was student of the day with 130 pips. Some decided not to trade and others crept in with a solid 30-60pips...
78 pips for me so happy to get off to a good start. Not as much as Barry but happy overall in these conditions.
See u later.
Dan
danarm
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New York Notes - Monday 2nd March
Afternoon all
Its been a good day with GBP weakness across the board.
CABLE
• Broken the 1.4150 & 1.4100 support level.
• The price needs to pullback and remember to trade as close to the 60min 20ma as possible.
• The trend is down so look for short plays so no entry available at the moment.
EURUSD
• Been trading sideways all day and 1.2500 is holding as support.
• Last two highs have been 1.2622 and look for opportunities off this resistance level.
• EURJPY will need to cooperate and move lower for EUR to have any realistic chance of breaking 1.2500 today.
EURGBP
• With EURUSD holding 1.2550 and GBPUSD falling aggressively EURGBP has powered up.
• Look for support off the 60min 20ma when it crosses the 60min 50ma.
• A retracement is needed so be patient.
• EURGBP is proving to be hard to hard to trade, so only take 20 to 30 pip targets at the moment.
Thanks
Dan
Afternoon all
Its been a good day with GBP weakness across the board.
CABLE
• Broken the 1.4150 & 1.4100 support level.
• The price needs to pullback and remember to trade as close to the 60min 20ma as possible.
• The trend is down so look for short plays so no entry available at the moment.
EURUSD
• Been trading sideways all day and 1.2500 is holding as support.
• Last two highs have been 1.2622 and look for opportunities off this resistance level.
• EURJPY will need to cooperate and move lower for EUR to have any realistic chance of breaking 1.2500 today.
EURGBP
• With EURUSD holding 1.2550 and GBPUSD falling aggressively EURGBP has powered up.
• Look for support off the 60min 20ma when it crosses the 60min 50ma.
• A retracement is needed so be patient.
• EURGBP is proving to be hard to hard to trade, so only take 20 to 30 pip targets at the moment.
Thanks
Dan
danarm
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GOLD, AUDUSD , USDCAD - Monday 2nd March
GOLD:
• After a steady start and building up to the weekly pivot we failed to break and a lot of you guys managed to bank 50% or the full position.
• On the hourly chart it does look like we have setup a higher low and could possibly come back to retest the 60 minute 20 MA
• The 15 minute does look like we want to retest the monthly pivot, if we see this break then we could see Gold retesting the previous lows I would be very cautious at this point and wait for a clear setup.
AUDUSD
• As per notes earlier we retested the 60 minute 20 ma before a small 40 pip drop back to the lows. We have failed to break through and we will now need a move back into the averages before we can play this again.
• 15 minute chart could be setting up for a small play with a tight stop but do wait for the trigger as this is not a break out play purely resistance on the 15 minute 20 MA
USDCAD
• Great break on USDCAD through the 1.2775 level which then rallied to 1.2900.
• Will be looking for further strong moves up after a retracement back onto our shorter term MA’s on the 15 minute charts.
James
GOLD:
• After a steady start and building up to the weekly pivot we failed to break and a lot of you guys managed to bank 50% or the full position.
• On the hourly chart it does look like we have setup a higher low and could possibly come back to retest the 60 minute 20 MA
• The 15 minute does look like we want to retest the monthly pivot, if we see this break then we could see Gold retesting the previous lows I would be very cautious at this point and wait for a clear setup.
AUDUSD
• As per notes earlier we retested the 60 minute 20 ma before a small 40 pip drop back to the lows. We have failed to break through and we will now need a move back into the averages before we can play this again.
• 15 minute chart could be setting up for a small play with a tight stop but do wait for the trigger as this is not a break out play purely resistance on the 15 minute 20 MA
USDCAD
• Great break on USDCAD through the 1.2775 level which then rallied to 1.2900.
• Will be looking for further strong moves up after a retracement back onto our shorter term MA’s on the 15 minute charts.
James
danarm
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New York Open - Monday 2nd March
Good afternoon all
Some personal spending numbers and core PCE out today so not trading until after the numbers. Be careful if you are in anything at 1:30
USDJPY –
• Failed to put a hole in the 97.00 level and now looking likely to move up a bit
• Still needs to break 97.00 for push lower or 98.00 for move higher
GBPJPY-
• Nice break on weekly pivot sees a little 150 pip move here with sterling weakness
• Has made new lows so possible of a further move lower
• Hard to steam in at this level and prefer to wait for retracement to 13800
EURJPY-
• Failed to take out previous lows so needing to break 122.00 for a push
• Very difficult to jump in here with EURUSD looking flat
Verdict-
Can’t touch any Yen pairs at the moment so not a promising session I was hoping for, sadly.
I have cut my EURJPY position but it looks like weak sterling may prevail, it’s just finding an entry point which I am stumped on at the moment.
Will keep you posted.
Zak
Good afternoon all
Some personal spending numbers and core PCE out today so not trading until after the numbers. Be careful if you are in anything at 1:30
USDJPY –
• Failed to put a hole in the 97.00 level and now looking likely to move up a bit
• Still needs to break 97.00 for push lower or 98.00 for move higher
GBPJPY-
• Nice break on weekly pivot sees a little 150 pip move here with sterling weakness
• Has made new lows so possible of a further move lower
• Hard to steam in at this level and prefer to wait for retracement to 13800
EURJPY-
• Failed to take out previous lows so needing to break 122.00 for a push
• Very difficult to jump in here with EURUSD looking flat
Verdict-
Can’t touch any Yen pairs at the moment so not a promising session I was hoping for, sadly.
I have cut my EURJPY position but it looks like weak sterling may prevail, it’s just finding an entry point which I am stumped on at the moment.
Will keep you posted.
Zak
danarm
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JPY Desk - Tuesday 3rd March
Good morning all, I hope you are well……
USDJPY-
• After a consolidation period this pair looks set to continue it’s march up
• Not one to get overly carried away with but a 30 pip risk from here on the break of .60 and a stop below the pivot at .30 could represent some value
• Not looking for shorts here at all
GBPJPY-
• A nice break from WP to MP yesterday was good for a couple of hundred pips but now wedged between 60m 20&50
• Needs to break WP 60m 50 and 4hr 20 to advance further
• Wait for break up of 13800
• Not looking for shorts from here
EURJPY-
• Bounced perfectly off 4hr 50sma yesterday and now finds itself back above the averages so a move higher imminent
• It has moved quite a lot so going to be patient and wait for a few reds on 60m chart before contemplating a long position but definitely 60m 123 material
• Again, not looking for short positions today
Verdict……..
Watching for sterling strength against USD and CHF to gauge the potential of a push through resistance for GBPJPY but 13800 is the level here if other 2 pairs look bid, which potentially they are for the time-being.
Also interested in small long position on UJ if it breaks 97.60 with a stop just behind the daily pivot.
Have a good morning
Zak
Good morning all, I hope you are well……
USDJPY-
• After a consolidation period this pair looks set to continue it’s march up
• Not one to get overly carried away with but a 30 pip risk from here on the break of .60 and a stop below the pivot at .30 could represent some value
• Not looking for shorts here at all
GBPJPY-
• A nice break from WP to MP yesterday was good for a couple of hundred pips but now wedged between 60m 20&50
• Needs to break WP 60m 50 and 4hr 20 to advance further
• Wait for break up of 13800
• Not looking for shorts from here
EURJPY-
• Bounced perfectly off 4hr 50sma yesterday and now finds itself back above the averages so a move higher imminent
• It has moved quite a lot so going to be patient and wait for a few reds on 60m chart before contemplating a long position but definitely 60m 123 material
• Again, not looking for short positions today
Verdict……..
Watching for sterling strength against USD and CHF to gauge the potential of a push through resistance for GBPJPY but 13800 is the level here if other 2 pairs look bid, which potentially they are for the time-being.
Also interested in small long position on UJ if it breaks 97.60 with a stop just behind the daily pivot.
Have a good morning
Zak
danarm
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GOLD , AUDUSD, USDCAD - Tuesday 3rd March
Morning All
Gold:
• 4hourly 20 MA has now been broken and we are $28 dollars from the 4hrly 50 MA.
• 1 Hourly chart is oversold and I would like to see increased buying pressure back into the MA’s
• 15 minute, look for resistance on the hourly 20 MA around 933, look for triggers but if we see the 60 minute 20 ma being broken look for a 123 back up to the MP.
• Remember money management as after yesterday’s falls on indices we could see a bounce any time soon although sentiment is weak.
AUDUSD
• AUD Interest rate raised against market trend by 0.25% to 3.25%
• This news caused a rally back up to the 0.6450 level and we could see further rises as more investors seek a better return on their money.
• I will be looking for a retracement onto the 4hourly 20 MA to see if we can find some support around these levels and then make a move back up towards the 0.65 level and the MP.
USDCAD
• After retesting the daily chart highs of 1.2950 the Cad does now finally look ready for a retracement before retesting these levels.
• We have broken back through the 60 Min 20 MA and will now be looking for a break of 1.2830 to see us moving back down to the 4 hourly 20 MA
• This looks like it might be a good potential.
James
Morning All
Gold:
• 4hourly 20 MA has now been broken and we are $28 dollars from the 4hrly 50 MA.
• 1 Hourly chart is oversold and I would like to see increased buying pressure back into the MA’s
• 15 minute, look for resistance on the hourly 20 MA around 933, look for triggers but if we see the 60 minute 20 ma being broken look for a 123 back up to the MP.
• Remember money management as after yesterday’s falls on indices we could see a bounce any time soon although sentiment is weak.
AUDUSD
• AUD Interest rate raised against market trend by 0.25% to 3.25%
• This news caused a rally back up to the 0.6450 level and we could see further rises as more investors seek a better return on their money.
• I will be looking for a retracement onto the 4hourly 20 MA to see if we can find some support around these levels and then make a move back up towards the 0.65 level and the MP.
USDCAD
• After retesting the daily chart highs of 1.2950 the Cad does now finally look ready for a retracement before retesting these levels.
• We have broken back through the 60 Min 20 MA and will now be looking for a break of 1.2830 to see us moving back down to the 4 hourly 20 MA
• This looks like it might be a good potential.
James
danarm
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London Open - Tuesday 3rd March
Good morning all…
Lets make some pips! I missed the GBP move at 5.30am but lets see how we can make pips elsewhere.
CABLE
• 60min chart suggests downtrend after breaking 1.4100 and 1.4000 however the likely retracement is on to the 4hr 20ma, after such aggressive selling yesterday.
• 15min chart shows price above the 60min 20ma confirming the retracement. Look for support off the 60min 20ma.
• However the downward trend should continue later today so any break of the 60min 20ma on the downside would suggest a good entry.
• Watch GBPJPY for help with GBP direction.
EURUSD
• 60min chart has retraced back to the 4hr 20ma
• 15min chart confirms this with support off the 60min 20ma.
• However the downward trend should continue later today so any break of the 60min 20ma on the downside would suggest a good entry.
EURGBP
• Broken 4hr triangle to the upside
• Look for support off the Daily 20ma off the 0.8900 level
• The 4hr 20ma will be key as well and if that holds at 0.8900 then look for further strength this am.
• As mentioned before EURGBP has been difficult to trade and changes by the minute.
• Watch CABLE and EURUSD for potential strength or weakness in their respective currencies.
• If CABLE breaks back below the 60min 20ma GBP will show signs of weakness against the EUR.
Happy pipping.
Dan
Good morning all…
Lets make some pips! I missed the GBP move at 5.30am but lets see how we can make pips elsewhere.
CABLE
• 60min chart suggests downtrend after breaking 1.4100 and 1.4000 however the likely retracement is on to the 4hr 20ma, after such aggressive selling yesterday.
• 15min chart shows price above the 60min 20ma confirming the retracement. Look for support off the 60min 20ma.
• However the downward trend should continue later today so any break of the 60min 20ma on the downside would suggest a good entry.
• Watch GBPJPY for help with GBP direction.
EURUSD
• 60min chart has retraced back to the 4hr 20ma
• 15min chart confirms this with support off the 60min 20ma.
• However the downward trend should continue later today so any break of the 60min 20ma on the downside would suggest a good entry.
EURGBP
• Broken 4hr triangle to the upside
• Look for support off the Daily 20ma off the 0.8900 level
• The 4hr 20ma will be key as well and if that holds at 0.8900 then look for further strength this am.
• As mentioned before EURGBP has been difficult to trade and changes by the minute.
• Watch CABLE and EURUSD for potential strength or weakness in their respective currencies.
• If CABLE breaks back below the 60min 20ma GBP will show signs of weakness against the EUR.
Happy pipping.
Dan
danarm
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Good morning
No trades for moi...James took GOLD and USDCAD for a few cheeky pips and Zak took USDJPY but closed for 1 pip. Good to see some of u hold USDJPY for 20 to 25 pips.
Difficult am to get head around GBP and EUR movement and patience needed.
Will wait for correlation to agree across the board before i trade.
Cheers
D
No trades for moi...James took GOLD and USDCAD for a few cheeky pips and Zak took USDJPY but closed for 1 pip. Good to see some of u hold USDJPY for 20 to 25 pips.
Difficult am to get head around GBP and EUR movement and patience needed.
Will wait for correlation to agree across the board before i trade.
Cheers
D
danarm
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Beware the ides of March and all that! The moment I got constructive onthe market on Friday it was bound to sell off, that will teach me! I amnot entirely sure what put the skids up the market this time whether itbe another huge bail out for AIG, a shambles of a G20 summit or arealisation by investors that the end is nigh. As always I was thinkingabout life and this credit crunch in depth over the weekend and I keepcoming to the same conclusion. Savings rates have to increasedramatically, we the consumer, and particularly the US consumer andgovernment cannot continue to be funded by the Chinese, debt cannot berolled over forever and at some stage needs to be repaid. People areall concerned about the pension time bomb, the solution is simple. Wehave to stick a hell of a lot more in our pensions otherwise ourchildren and grandchildren will want to have us put down as they willrefuse to look after us physically and financially. More in our pensionfunds means a lot less in our pay packets, corporate profits down andconsumers saving more and spending a lot less and we all know what thatmeans for growth going forward. What worries me is that our futures,our children's future are in the hands of politicians that think the wayto get out of a debt bubble is to spend even more. These are ultimatelythe same people who did not police this situation, allowed AIG amongstothers to lose astronomical amounts of money and then bail them out atthe end (US tax payer is on the hook for $160bn plus so far!).Whichever way I look at it the future doesn't look so bright. All thatsaid the market is not going to go down in a straight line, maybe thegovernments beats the demons of deflation with moneyprinting/quantitative easing and creates inflation that is good for EMand certainly the lesser of the two evils, only time will tell. For the record not a great deal going on in my world, market was widerand there are bonds for sale particularly in the Steel sector however atthe moment there is no sense of panic out there, yet! I will repeatwhat I have said on several occasions lately, EM at these levels doesnot look like an attractive asset class (aside from the odd specialsituation) and I am thinking on this occasion EM is not ahead of thecurve.
Mr P......
Mr P......
danarm
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New York Open Notes - Tuesday 3rd March
Good afternoon all. I trust you have all had a good morning.
USDJPY looking pretty good to the upside again and giving some updraft to GBPJPY and EURJPY, the latter mentioned earlier on the videos as a good looking bet after a 60m 123
Anyway onto this afternoon’s session…..
USDJPY
• looks to be targeting previous highs at 98.11 then 98.67.
• be careful at the 98.11 level with Mr Bernanke speaking a little later
• needs a small retracement on 15m chart now with 20/50 needing to show signs of support
GBPJPY
• Looks good again above 13800
• Needing to see sterling confirming this move so the pound needs to break up above the pivot vs the dollar at 14100 to tempt me into a position
EURJPY
• A little bounce off the crossing 60m 20&50 paved the way for a relatively easy 50 or so pips with the ‘kiss’ technique this morning
• Needs EURUSD to help further gains so be very careful at 12400
• Look how perfect the 123 on the 60m chart was. It’s textbook stuff so learn it well
VERDICT……….
All Yen pairs looking very strong again now so once again not looking for short positions.
5m/15m continuation plays preferred. Just need to be patient and wait for good, low-risk entries
Have a good afternoon
Zak
Good afternoon all. I trust you have all had a good morning.
USDJPY looking pretty good to the upside again and giving some updraft to GBPJPY and EURJPY, the latter mentioned earlier on the videos as a good looking bet after a 60m 123
Anyway onto this afternoon’s session…..
USDJPY
• looks to be targeting previous highs at 98.11 then 98.67.
• be careful at the 98.11 level with Mr Bernanke speaking a little later
• needs a small retracement on 15m chart now with 20/50 needing to show signs of support
GBPJPY
• Looks good again above 13800
• Needing to see sterling confirming this move so the pound needs to break up above the pivot vs the dollar at 14100 to tempt me into a position
EURJPY
• A little bounce off the crossing 60m 20&50 paved the way for a relatively easy 50 or so pips with the ‘kiss’ technique this morning
• Needs EURUSD to help further gains so be very careful at 12400
• Look how perfect the 123 on the 60m chart was. It’s textbook stuff so learn it well
VERDICT……….
All Yen pairs looking very strong again now so once again not looking for short positions.
5m/15m continuation plays preferred. Just need to be patient and wait for good, low-risk entries
Have a good afternoon
Zak
danarm
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GOLD , AUDUSD, USDCAD NY PM - Tuesday 3rd March
Good Afternoon all,
GOLD:
• Currently setup into a perfect triangle.
• A break to the upside would be limited with the 60 Min 20 MA just above
o If we do see a move through the 60 Minute 20 MA we will look for a 123 off this.
• A break to the downside could signal a move back down to the 4hourly 50 MA that we have been looking for.
o Key level 920.50
AUDUSD:
• Sadly the 123 I was looking for this morning on the 4hourly 20 has come and gone. I missed this one too.
• If there is a retracement I will be looking for support from the WP and the triggers to line up.
• If these are not in place I will not trade.
USDCAD:
• After a slow start this morning which gave us a few small pips, Cad came to retest the daily high and failed to break.
• This should help us to the downside and I will look for a 123 off the 60 min 20MA for an further play down.
James
Good Afternoon all,
GOLD:
• Currently setup into a perfect triangle.
• A break to the upside would be limited with the 60 Min 20 MA just above
o If we do see a move through the 60 Minute 20 MA we will look for a 123 off this.
• A break to the downside could signal a move back down to the 4hourly 50 MA that we have been looking for.
o Key level 920.50
AUDUSD:
• Sadly the 123 I was looking for this morning on the 4hourly 20 has come and gone. I missed this one too.
• If there is a retracement I will be looking for support from the WP and the triggers to line up.
• If these are not in place I will not trade.
USDCAD:
• After a slow start this morning which gave us a few small pips, Cad came to retest the daily high and failed to break.
• This should help us to the downside and I will look for a 123 off the 60 min 20MA for an further play down.
James
danarm
Experienced member
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CABLE, EURUSD, EURGBP NY PM - Tuesday 3rd March
Good afternoon
It seems USDJPY has won the battle and is now dragging the other JPY pairs up.
A tough AM with a lot of conflicting views. I asked many of you where GBPJPY was going and some said up, some said down and others said sideways. What does that tell you? Difficult day for trading…Yes opportunities were there but as you know its safer to trade when you have either strength or weakness across the board. If you are boxed in between the 60min 20ma and 50ma in either GBP/EUR or JPY it is best to be patient!!!
CABLE
• With USDJPY winning the battle, GBPJPY has popped and this has powered GBPUSD.
• WS1 is support now at 1.3985 level.
• Key is GBPJPY here and if this breaks the 4hr 20ma then watch GBP to hold up against other currencies.
EURUSD
• Again with USDJPY leading the way again, EURJPY has found support and EURUSD is now holding.
• Will this EUR strength last? Well it depends if EURJPY holds up above the 60min 20ma.
• EURUSD boxed between the DP and 4hr 20ma. Wait for break of these levels.
EURGBP
• A difficult one to trade to be honest.
• No trend so stay away.
Verdict
• Watch JPY´s for direction and then watch breakout in EURUSD
Dan
Good afternoon
It seems USDJPY has won the battle and is now dragging the other JPY pairs up.
A tough AM with a lot of conflicting views. I asked many of you where GBPJPY was going and some said up, some said down and others said sideways. What does that tell you? Difficult day for trading…Yes opportunities were there but as you know its safer to trade when you have either strength or weakness across the board. If you are boxed in between the 60min 20ma and 50ma in either GBP/EUR or JPY it is best to be patient!!!
CABLE
• With USDJPY winning the battle, GBPJPY has popped and this has powered GBPUSD.
• WS1 is support now at 1.3985 level.
• Key is GBPJPY here and if this breaks the 4hr 20ma then watch GBP to hold up against other currencies.
EURUSD
• Again with USDJPY leading the way again, EURJPY has found support and EURUSD is now holding.
• Will this EUR strength last? Well it depends if EURJPY holds up above the 60min 20ma.
• EURUSD boxed between the DP and 4hr 20ma. Wait for break of these levels.
EURGBP
• A difficult one to trade to be honest.
• No trend so stay away.
Verdict
• Watch JPY´s for direction and then watch breakout in EURUSD
Dan
Rollingstone
Active member
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- 18
SuperWoodie CCI indicator
Hi all
At the risk of appearing nerdy (again), I see there have been over 50 downloads of the SuperWoodie CCI indicator that I posted a while ago and thought I would post the updated indicator.
I have worked out how to get rid of all the numbers that appear across the chart, and shorten the indicator name too, so now attach the revised indicator and a screenshot of the section of code you need to change in case anyone wants it.
For all you wannabe coders you have to add this IN THE RIGHT PLACE (as per the pic)...
string short_name;
and then change these individual lines:-
short_name="SW"+CCI_Period+" ";
SetIndexLabel(0,NULL);
SetIndexLabel(1,NULL);
SetIndexLabel(2,NULL);
SetIndexLabel(3,NULL);
SetIndexLabel(4,NULL);
Or you could download the revised indicator, copy and paste the whole code and just change the CCI period to whatever you want.
RS
Hi all
At the risk of appearing nerdy (again), I see there have been over 50 downloads of the SuperWoodie CCI indicator that I posted a while ago and thought I would post the updated indicator.
I have worked out how to get rid of all the numbers that appear across the chart, and shorten the indicator name too, so now attach the revised indicator and a screenshot of the section of code you need to change in case anyone wants it.
For all you wannabe coders you have to add this IN THE RIGHT PLACE (as per the pic)...
string short_name;
and then change these individual lines:-
short_name="SW"+CCI_Period+" ";
SetIndexLabel(0,NULL);
SetIndexLabel(1,NULL);
SetIndexLabel(2,NULL);
SetIndexLabel(3,NULL);
SetIndexLabel(4,NULL);
Or you could download the revised indicator, copy and paste the whole code and just change the CCI period to whatever you want.
RS
Attachments
Last edited:
danarm
Experienced member
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- 1,183
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London Open Notes - Wednesday 4th March
Good morning
Its mid week and I keen for more pips. I didn’t trade yesterday for numerous reasons so I am in the hunt today…
CABLE
• The downward trend continues with USD strength across the board at the moment.
• 1.3980 is yesterdays low and watch break of here.
• Remember to watch GBPJPY for help in direction with GBP. Any break above 138.25/30 would signal GBP strength.
• If GBPJPY powers up with USDJPY and EURJPY then watch break back above the 60min 20ma in CABLE.
• Verdict difficult to trade unless GBPJPY falls and we break previous low.
EURUSD
• The downward trend continues with USD strength across the board.
• 1.2500 has been tested and broken.
• Use the 4hr 20ma to your advantage here as immediate term needs a pullback.
• EURJPY is trying to pop up so EURUSD should pullback to the 60min 20ma.
• Verdict difficult to trade on the pullback. Tight stops needed.
EURGBP
• EURGBP has been a tough one to trade.
• 60min chart showing signs of support with trend line at 0.8880.
• However 15min chart shows Golden Cross for south side.
• Yes could look for short play if GBPJPY and CABLE move higher with tight stop above the 60min 50ma around the 0.8940 level.
• To be honest its not great but it is limited downside risk of 20 pips on 15min chart.
Verdict
Tough on my side…Will watch JPY´s closely this am.
Dan
Good morning
Its mid week and I keen for more pips. I didn’t trade yesterday for numerous reasons so I am in the hunt today…
CABLE
• The downward trend continues with USD strength across the board at the moment.
• 1.3980 is yesterdays low and watch break of here.
• Remember to watch GBPJPY for help in direction with GBP. Any break above 138.25/30 would signal GBP strength.
• If GBPJPY powers up with USDJPY and EURJPY then watch break back above the 60min 20ma in CABLE.
• Verdict difficult to trade unless GBPJPY falls and we break previous low.
EURUSD
• The downward trend continues with USD strength across the board.
• 1.2500 has been tested and broken.
• Use the 4hr 20ma to your advantage here as immediate term needs a pullback.
• EURJPY is trying to pop up so EURUSD should pullback to the 60min 20ma.
• Verdict difficult to trade on the pullback. Tight stops needed.
EURGBP
• EURGBP has been a tough one to trade.
• 60min chart showing signs of support with trend line at 0.8880.
• However 15min chart shows Golden Cross for south side.
• Yes could look for short play if GBPJPY and CABLE move higher with tight stop above the 60min 50ma around the 0.8940 level.
• To be honest its not great but it is limited downside risk of 20 pips on 15min chart.
Verdict
Tough on my side…Will watch JPY´s closely this am.
Dan
danarm
Experienced member
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- 1,183
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GOLD, AUDUSD, USDCAD - Wednesday 4th March
Morning All,
Great day for trading Gold yesterday now back around 900 we will start to assess the long term potentials again.
GOLD:
• Great break of the 920.50 level last night saw us pulling back towards the 4 hourly 50 ma
• We still have roughly another $12 down to this level.
• On a 15 minute chart I would be looking for a break of the previous low (911.50) or a retracement into the 60 minute 20 ma before another push down.
• As we all know if the 60 min 20 ma is broken then 123’s will be what we are looking for
AUDUSD:
• 100% retracement of the interest rate bounce
• Looking for a move back into the longer term MA’s before any position will be considered.
• I am looking for this to come back towards 0.6360 before failing to break the 60 min 20 MA.
• Around these levels I will then look for resistance and the triggers to start falling into place.
USDCAD:
• 1 Hourly chart looks massively over bought and we are right on the daily resistance.
• The fan of MA’s is spread well and a retracement could well be on the cards with a break of the 60 minute 20 MA (15min Chart)
• Support on the 60 Minute 20 may also give a short term move back up to the daily resistance which is only 20/30 pips away.
I will keep you updated have a great morning.
James
Morning All,
Great day for trading Gold yesterday now back around 900 we will start to assess the long term potentials again.
GOLD:
• Great break of the 920.50 level last night saw us pulling back towards the 4 hourly 50 ma
• We still have roughly another $12 down to this level.
• On a 15 minute chart I would be looking for a break of the previous low (911.50) or a retracement into the 60 minute 20 ma before another push down.
• As we all know if the 60 min 20 ma is broken then 123’s will be what we are looking for
AUDUSD:
• 100% retracement of the interest rate bounce
• Looking for a move back into the longer term MA’s before any position will be considered.
• I am looking for this to come back towards 0.6360 before failing to break the 60 min 20 MA.
• Around these levels I will then look for resistance and the triggers to start falling into place.
USDCAD:
• 1 Hourly chart looks massively over bought and we are right on the daily resistance.
• The fan of MA’s is spread well and a retracement could well be on the cards with a break of the 60 minute 20 MA (15min Chart)
• Support on the 60 Minute 20 may also give a short term move back up to the daily resistance which is only 20/30 pips away.
I will keep you updated have a great morning.
James
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