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Turns out that Cable and Euro and JPY charts were all weak in the end.
Can't get it right all the time. Back to the drawing board.
Good to have the girls back. Great work last week Diva. You really are the soul sister of the markets !!!
See you later for the asian session preview which I now have time to do each day.
Morning session will be by 7am
Afternoon will be by 2pm
Evening will be by 8pm
ALL LONDON TIMES
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
This is a potentially very nice set up if EURUSD and USDJPY continue down.
I fancy it to the weekly pivot.
CCI's are down price is under the Ma's which are in close proximity.
A tight stop above the daily pivot may well be the answe for a good 150 pip run south.
I'll see you in the morning. Have a good evening.
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
If USDJPY does fail to stay down then there wouldn't be an opportunity to short EURJPY but there might be one to go long on USDJPY.
Depending on what the Dow does. If it counces off the pivot and finds some support then we would expect to see this pair breakout to the north side.
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
This is a potentially very nice set up if EURUSD and USDJPY continue down.
I fancy it to the weekly pivot.
CCI's are down price is under the Ma's which are in close proximity.
A tight stop above the daily pivot may well be the answe for a good 150 pip run south.
I'll see you in the morning. Have a good evening.
This is exactly why I try to use the 15m or 30m or 60m charts.
Take a look att this 15m chart from the EURJPY trade.
There is no way anyone in their right mind is getting scared out of that trade, although the daily pivot was breached.
However, the 5m chart (not shown) could of quite easily put the frighteners on many a novice trader not accustomed to a 50 pip stop.
For the sake of this shot I highlight the 7ema (5m 20) in a thicker colour. One can clearly see that this was always south of the 20ema and therefore, the trend was likely to continue.
Not once has it come close to crossing and after a little umming and arring the target has been hit with military precision and the 150 pips are in the bank.
I'll be back in a couple of hours for the morning report.
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
Nice call Pimp. Have to admit, I read your report on EURJPY about an hour after you posted it but was scared off the trade due to the pivot being broke. Looking forward to more Asian calls.
Some monster moves on Cable Euro and Swiss yesterday and you'd have to fancy a little rebound or retracement 1st thing this morning.
The Asians haven't really smashed into anything significantly and so it's all set.
Some dangerous potentials would be Euro possibly from 12600 to 12650-60, Cable maybe 15700 to 15800
but one I really like the look of is a Short Swiss.
Yes it's against the trend but with a stop beyond the WR1 at 17780 this could well fall to the 5m support at 11740, then the 60m 20ema at 11715, then ultimately the daily pivot 11675.
This is a risky proposition and maybe more prudent to be conservative to wait for the main trends to continue. However Pimps don't do patience and I'm in an a reduced stake when I see some red emerge.
Have a good morning. I'll be back later
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
Some monster moves on Cable Euro and Swiss yesterday and you'd have to fancy a little rebound or retracement 1st thing this morning.
The Asians haven't really smashed into anything significantly and so it's all set.
Some dangerous potentials would be Euro possibly from 12600 to 12650-60, Cable maybe 15700 to 15800
but one I really like the look of is a Short Swiss.
Yes it's against the trend but with a stop beyond the WR1 at 17780 this could well fall to the 5m support at 11740, then the 60m 20ema at 11715, then ultimately the daily pivot 11675.
This is a risky proposition and maybe more prudent to be conservative to wait for the main trends to continue. However Pimps don't do patience and I'm in an a reduced stake when I see some red emerge.
Have a good morning. I'll be back later
Hey Guys, will be doing an afternoon post in about an hour, so 1PM UK time.
A little round up from this morning.
Anyone who likes a little play against the trend could have picked up.
Sure, you need to hold these for a couple of hours, but do this on a regular basis and you will soon discover that trading is not ALL about 20-30 pips.
The real money comes when you hold them a while longer.
Speak soon
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
Hello,
What is the best way to tell the difference between a reversal and a retracement?
Please be kind,
Matt Thomas
Hi Matt,
A little retracement should see the price pullback to the m.a's and then continue, whereas a reversal will see the price break the 5m ema, then the 15m ema, then the 5m 20 cross the 15m 20.
By this time the 63 should have crossed too indicating a retracement on a 60m chart (retracing now toward 60m 20) BUT a reversal on a 5m chart.
this is where we look for the trigger.
Picture demonstrates
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
Linear Mode
