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Here's a little 100 pip Gold trade from today.
Even with no U.S session just trading Gold and Crude alone today could have netted over 500 pips !!
Dr FX Pimp,
Don't know anything anymore....for example, looking over your Gold chart today we don't understand why it was a good set up. It was sitting on the weekly pivot when you got in. Or did you get in after it broke your weekly and S1 line? But when it did & you waited for retracement, the CCI252/1hr was indicating oversold at -200 level. But having said that, we know that the 4hr CCI is not oversold as it's just crossed 0.00. So was you going by the 4hr CCI and ignoring this 1hr CCI?
Sorry, but this bug is not budging! We think it's a unique strain and we're the only one's that have it
Don't know anything anymore....for example, looking over your Gold chart today we don't understand why it was a good set up. It was sitting on the weekly pivot when you got in. Or did you get in after it broke your weekly and S1 line? But when it did & you waited for retracement, the CCI252/1hr was indicating oversold at -200 level. But having said that, we know that the 4hr CCI is not oversold as it's just crossed 0.00. So was you going by the 4hr CCI and ignoring this 1hr CCI?
Sorry, but this bug is not budging! We think it's a unique strain and we're the only one's that have it
Hi Larries.
I hope you're not losing the plot there. Keep it Krisp as Monkey Boy would say !!
Thanks for your post regarding this trade. We were talking about it in the room for quite some time yesterday morning and with Crude falling it was a definate player, ever if it started a little later.
There were numerous ways to have played this. One of which was where you have rightly pointed out.
It was acrually the previous candle when the signal came, but as you rightly mantioned there was the S1 level there, which needed to break which did take it oversold a little bit but not massively. It was boderline and considering what Crude was doing it was a low risk trade. Look how close the 20ema was. Look at the trajectory of the others all nice and neat above (your chart)
There is another way in which you could have taken the trade.
Look at the bigger picture.
I say it time and time again, but people seem to have an infactuation with 1m and 5m chart because they only need a 20-30 pip stop.
That's great but look at the 4hr chart.
Clearly below the weekly pivot (thick olive)
Neither 4hr or daily CCI were oversold. Definate break of support line that EVERYONE should have had on their charts, not just Honest Bill.
Even the Mornning post of yesterday said about a break of either 842 up I think it was and 825 down would show the way.
Why don't you try putting your 4hr trendlines on every 2-3 days in one colour, then maybe 30m or 60m ones in another each day, then 5m ones in yet another colour so you know where you are.
This support line in question went back nearly 3 weeks, so clearly very significant.
Don't panic. It'll come.
Accept that it's not an exact science everytime and only take trades the fit your criteria.
Personally for you, I would suggest stick with the major currencie pairs for now. If you can cope with 2 more to add to your 4 then go for AUDUSD and USDCAD so you now have 6 $-related pairs to trade on the back of Gold/Crude strength/weakness.
Think about it. It's very easy to lose 50 pips trading Gold but howmany times do you bank 50 playing Swissie ? Got to keep a good balance.
I hope this helps
__________________ 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
Those with the short orders on Euro and Cable at 1.46 and 1.80 were duly rewarded in the night with 100 pips so well done to you guys.
Todays action looks interesting with Crude hitting the lows of mid-august and Gold looking like she could use a little retrace back to 820 before a further fall.
Will be interesting to see what Crude does at these levwels so very important to remain on your toes.
Both are below daily pivots which are below the weekly pivots so consensus is definately down, just how far is another question all together.
FX. Miss Yen bouncing off the 60m 50sma this morning could see this a lot lower. With limited action in DOW futures yesterday this morning we are already seeing some selling off.
This can and often does have an adverse affect on USDJPY so below the 108 and a break of the daily 50 could see this a bit lower to 107
Not looking to trade cable after alreading falling a lot.
IF Gold and Crude find support JPY is the one to be on this morning. If not, Euro might be worth a pop if she falls through S1 at 1.4560
__________________ 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
__________________ 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
How much further can cable fall?
60m and 15m CCI's are not oversold, theres the brekout of a little descending triangle chart pattern, a break of the weekly S1 and the 7CCI cross.
I like it.
__________________ 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
Even if you only managed 50% of the 70 pips available, in 30mins you'd have made your daily target !!
__________________ 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
Thank you Mr FX Pimp for all stuff you do here. It is really very very good to learn here.
I'd like to ask you about more risky entries. I've just jumped in and collected about 50 pips. I'm considering this as a luck and this was on demo account. But I'd like you to comment this.
I entered short on EUR&USD becouse on 15min GOLD I saw that it is still falling after retracement. I know that it was risky becouse CCI shows oversold but.. I'm very very impatient
I've entered Cable on short and USD&JPY long the same tame and got:
EUR&USD -> about 20pips
GBP&USD -> about 20pips
USD&JPY -> about 8pips
I've closed them all becouse it is enough to test luck
Of course I've check it in higher timeframes for overall trend..
Morning Pimpsters,
After a 7 week break and much anticipation the Rock comes good on his first live trade and trousers a sneaky 86 pips on u/chf (1.1027 - 1.1113). Got in on the break early this morning and have held until 15m 21CCI crossed back the +100. Maybe could have held for some more, but wanted to put some pips in the tin.....
Will be looking at the bad boys from tomorrow, and will see if I can get some attitude with the black and gold........Happy pipping.
I'm very very impatient 
Linear Mode
