The Fx London Open

[danarm]

Hi all



Some great pippage for you all out there this morning...Is the London Open back to its best..It brought a smile to my face this morning, watching the way it moved...Reminds me of how i use to own the dance floor when i was 21!!!



the IFO number was def leaked this am and EURUSD fell off accordingly from 1.5600 down to 1.5500..Many taking 50% of that move... Great money management with very limited risk.



USDCHF followed suit on the upside from 1.0350 to 1.0450... Think many found EURUSD more appealing with the gap between the daily 50 and 60min 200ma.



GBPUSD showed many the opening for an entry on a 123 move from 1.9740 to 1.9600 and USD strength was confirmed with USDJPY moving from 107.40 upto 107.90 with only a handful taking 15 pips or so from this trade...



EURJPY was alerted on a potential break down from the 60min 50ma to the 60min 200ma for 40 pips... Well spotted and great trade..



The Pimp talked the Crude up but there were not many takers due to it being the 1st trade of the week...It can be very jumpy as we know...Its always about building for the week and u all have your own targets... Write them down and make sure you work towards them...



Overall that is what i mean by the London Open and this is how you trade it... Low risk, high probability trades... Its been misbehaving recently and the afternoon sessions have been better but the good news is you are all learning so much and making great pips..



Well done to you all... You deserve the rewards!!



Dan007

 

[danarm]

Hi all

We discussed the break of the support line this morning...

Orders should have been placed either side of the support and resistance lines and wait for clear break...

902 and now trading at 882...Thats 200 points in 15mins down to the 60min 200ma...

Dan007

 

[FX Pimp]

Good Morning,

What a cracking day yesterday turned out to be. Amazing breakout play on the Gold. Didn't even have the trendline drawn-in, was only playing the whole 1-2-3 game, then BAM !!
They're the moves we like, 200 pips in under 30 minutes sort of moves.

The trouble now of course is that we're well oversold on the 4hr CCI still so if this is the next stage of the Dollar recovery then I'm on the bench for the moment.
Interestingly she managed to claw her was back over the 60m 200sma.
Not even going to talk about crude. It's such a mess at the moment but does look set to fall through to the 4hr at $135.70, IF it can break the 60m 20ema at $136.80 down so maybe a few points there to be had.

On the currencies we get an idea of how weak the Yen is overall.
Just some tiny little retracements from yesterdays falls on EURUSD & GBPUSD saw some pretty straight-forward bounces off the 60m 200sma's on both GBPJPY & EURJPY and some nice long opportunity trades with USDJPY holding up nicely. These former two look like they could continue this morning IF USDJPY doesn't fall.

The good cable trade of yesterday, which for some unknown reason I never took, is not so clear-cut today. It's wedged in-between the daily 20ema below and the 60m & 4hr 20ema above. It does look to be trying to find support though.

Euro looks like it's made a higher low on the 15m chart but with all the resistance from all timeframes above, what can you do?

Might need some news from Euroland to stir-it-up...........'lil darling.......

 

[danarm]

Hi all

Well a tough market this morning with GOLD and CRUDE tempting many of us in for a short trade...

However not to worry!!! Where do we make our pips back and some??? Yes the one tremding market the Indices...

Look at FTSE fall from 5695 to 5615..Thats 80 pips...

Look at DAX fall from 6650 to 6550...Thats 100 pips...

Look at DOW which led the way from 11850 to 11775...Thats 75 pips

Ok you wont maximise completely but many of you have taken over 100 so great trading...

Dan007

 

[Blazer1965]

Hello,

This same post appears in ff and forex tsd with the same participants.

The content is good but it is a camuflage attempt to attract new clients in a signial service.

Cheers.

B

 

[danarm]

Hi Blazer

Only trying to post honest strategies my friend...It makes good pips when the market conditions are in your favour... Difficult day this morning to be honest but Indices showed the way with a clear direction...

Its all very friendly and we make the most of what the market chucks at us!!!

Good luck with your trading and i wish you well with your PIP hunting.

Dan007

 

[FX Pimp]

Anyone reading the post this morning would have stayed out of shorting the Gold, which would have saved you some pips, and all those taking the possible short on USDCHF that was suggested made an easy 40.
All pretty good stuff with GBPJPY & EURJPY doing exactly as predicted too.
Unfortunately the Crude was very badly behaved but no-one got too badly burnt on that.

Lovely moves on the Indices we spoke about. I managed to pick-up 65 on the FTSE, which was nice and closed out my long position of yesterday on USDJPY with a little under 30.

Consumer confidence this afternoon in the States. Nothing exciting me at the moment, but interesting to see the CHF pairs falling and EURUSD not.
IF the numbers come out at 55.00 or lower, there could be some room on the upside there.

Great day for everyone yesterday. Not so great for Dan & I holding the fort and not trading. Not so good day for some this morning, but a good one for me. Swings n roundabouts. It's the long-term that matters most. If 1 candle doesn't make a trend, then 1 losing trade doesn't make a bad trader !

Blazer. Clearly you don't have a clue about us. We offer education like you see in these posts, not a 'signal' service. Just read and learn and you will make money without having to part with any cash. I can't say fairer than that, chap !
PS What's a Signial ??

 

[SimonRK]

Hi Dan & all,
Good day today - I only entered 2 trades today as the markets have no direction at present.

Took a short trade on the EUR/USD this morning down to the hourly 20 M/A. Thought it would found support there. - 32pips

Then had the choice of which trade I took for the dollar weakness that set in. All the Majors against the dollar found support & started to rally.

I went long on Gold as it found support for 180 pips. Under normal conditions I would have kept this trade on & keep moving my stop under the 20 M/A - but not with this unpredictable market.

Happy trading

Simon

 

[live_trader]

What Charts do you use?

Hi Danarm,

I like this strategy and would like to give it a go, I also am a novice - have traded futures a long time ago when there was no computer link up - had to do it off the teletext etc...
anyway could you please let me know what charts you use? so that i can get it right, also do i have to pay for using the charts?
I also like to trade around 6am to 10am London open suits me fine - although I must admit i am trading or looking at the prices almost all day to keep an eye on things.

Thanks
Nick - Live-Trader Ilford, Essex, UK

Hi all

Trust everyone is well...

My philosophy in trading is TO keep it simple and stick to your trading plan...

I use a 200ma & 50ma simple and a 20ma exponential...The 21CCi and 10CCI are key as well for trends...

I work off a Daily, 60min and 15min charts for specific entry points.

The 1st point is to always remember where you are compared to to your 200ma. This is critical and the greater the distance you are away from the 200ma the greater the chance of an aggressive pullback to the 200ma.

There are 3 stages in a move...

1) The drive away from the 200ma..Use the 20 and 50ma as a support or resistance.

2) The pullback and break of 20ma and 50ma..This is what we call the Box strategy when the candles are boxed between the 200ma and the 50ma... Be careful here as u never truely know the exact support and resistance levels... However the 50% retracement rule is key here and calculate this before every trade... Look at the GBPJPY chart below... The 1st higher low before the break of the 20ma was key and then the break of the 50ma for a 50% move, then a retacement for a 123 setup and a bounce off the 50ma for a pullback to the 200ma....

3) At the point of return to the 200ma is key..This is the resting point and you need to wait for a clear move for the direction... The 21CCI is key here and on every time frame the 21 CCI shows me the trend...

Recently with the markets being so bad i have had to move onto the 15min on the currencies for entry points so i can grab at least 25 points on each trade on the london open...

I have specialised on this for ages and it definitely works...

I focus on pairings of CHF's , GBP, EUR's and then JPY's and when these pairs move together i then look for the best setup and then trade the 2,3 or 4 pairs and this tends to bank me quite a bit each am from 6.30 am to 10am...

There is a little bit more to it and i will cover it later but that is the idea...

Thats a start for now...

Will post each day around midday...

Good luck

 

[danarm]

Good morning all

Quietish day but good direction in GOLD which showed the way for the EURUSD and USDCHF 1st thing this morning. Many making 20 plus pips...

Paul alerted us to the DAX break and the indices traders picked up pips there as well...Well done

The JPY’s moved far too early for an exact low risk entry point but overall a good day for those who traded..

However CABLE (30 PIPS) and EURUSD (30+ pips) have been the big movers in the last 30 mins..

Controlled trading today which is good to see and should pick up 100+ today. Keep up the good work.

I would like to officially welcome Hemal onto the MBC and we look forward to hearing his views each morning.

Have a good afternoon.

Dan007

 

[danarm]

Hi everyone...

Its all coming together really well... I have to thank you all for your emails. Very positive which is great to see.

I dont have time to read every reply so if you need to ask me anything please message me in my private messages.

Have a great day...

Gold double topped hey!!!

Dan007

 

[danarm]

Good morning all

Well no surprise, Crude and Gold remain bid today and USD weakens further…The Indices remain exceptionally weak and their trends continue down.

There are many opportunities out there and make sure you are patient and wait for the correct setups on the CCI’s before jumping in. A very positive room today and many making 30 + pips and some novices making over 100 pips which is fantastic to see. Well done to you all…

The Indices started to move very early today with a few entering at 11,350. Thats over 100 pips lower…

The DAX fell and many entered at 6,450..We are now trading at 6,350… Remember to use the CCI’s to keep u in the trades.

The FTSE was called a short at 5,600 and again we are trading at 5,500 now… Where next i ask!!! 5,000???

The Crude was a fantsic call today with many making over 50 + pips here from 141.10…Its easy looking back but what a bid market… Now trading at 142.50.

Hemal called GOLD brilliantly today and waited for the confirmation of a 123 trade…926.50 as an entry and an exit at 930.00..Excellent trade.

Cable got away from us this am and we were waiting for a 123 long play.. This never materialised but when the currency moved over 110 pips to the 2.000 figure, a cheeky short was taken by Cako and Hungry Horse for 30 - 50 pips back down..Well traded guys…

Other than that, USDJPY and EURJPY went out the blocks vvv early and a few held the positions in the am for small pips..

Overall a great day and to see novices make 100+ pips today has given me a huge boost. This is what it is all about and i am so happy for u all.

Excellent work.

See you tomorrow.

Dan007

 

[danarm]

Hey everyone

That crude was an excellent 123...Use the 15min and the shorter 5 min time frame to get you...

Tough conditions to be honest... Dont feel a need to trade if you are unsure and have questions on setups.

Dan007

 

[danarm]

Hi

FTSE has an interesting setup for a move... CCI's moving... Wait for 123

Watch DOW this avo with crude inventories as this might pull it all about!!!

Dan007

 

[trendie]

where do you get your CCI histogram?

I thought I recognised it! Its Woodies, isnt it? it counts a change of trend when there have been about 5-6 bars under/over the zero-line.

 

[blancspa]

where do you get your CCI histogram?

I thought I recognised it! Its Woodies, isnt it? it counts a change of trend when there have been about 5-6 bars under/over the zero-line.

Do you know how to determine time interval for CCI short timeframes?