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Sorry to hear you never pulled the trigger. WHYYYYYYYYYYYY ??
What was against the 4hr 21? The 4hr 20ema was above you so you know you are below 0.0 on 4hr21CCI. I have even added a 1008 to the bottom of this chart just for you to see exactly where the 4hrCCI would have been.
Don't worry if the 252 has not quite crossed. The important thing is the break of the 60m 20ema which is equivalent. I guess had the 21CCI been a 20, then a 252 would be a 240 and then it might have just broken the 0.0. Shall do some tests.
You been on the Guiness again ?
Oh, FX, the pain I'm feeling now.
I don't know what went wrong yesterday. I was reading the charts all wrong.
The one trade I did take yesterday, USDCHF short, was when crude and gold where heading down. I chopped it for -19 when I realised my mistake. I was reading the wrong direction.
I watched some othere set ups and let them go by too...........
Just a quick one this morning as my classical FM clock-radio never managed to rouse me from slumberland and I am running a little bit late.
Somwhow I managed to fall asleep at 9pm lastr night and so was scratching around at 2am looking for something to do.
Yhe joys of being on holiday.
Anyway, crude managed to smash through the weekly 50sma with some serious machinery, taking it all the way to $100 almost.
Surely it's time to move north again. Does anyone really think this can go back to $70 or $80. I don't.
Gold back at $500? No way.
Technically both are still very bearish, so lets wait a bit.
Shorter term, Crude has dounced off weekly S1, Gold off daily S1.
We need for them to break the pivots and the 60m 20's if we're going to see a way out of this.
On the currencies, Cable is really having a try, with the 60m 20 almost crossing the 50 with the 4hr 20 in range. A nice clean break of 1.7670 to the upside might see a little run north.
Will keep you posted with some updates but everything else looking messy at the moment
__________________ 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’ve moved over to the Pimpalicious template and here is how my 2 monitors look now. Just scroll to the right.
I believe in never wasting real estate space, so I’ve squeezed aud/usd into the top left. Besides, I only pay a 2 pip spread on it. So, why not?
As you can see I have the 5m and H1 charts up. This lets me see from 5 minutes up to 4 hours on each pair. If, as FX mentions a trade might develop, I can just step up to the higher timeframes.
Honest Bill
William where did you get the MTF trending indicator from.? May i have a copy of it ... Thanks
I realise I am on holiday and not doing any trading and instread preparing for my relocation opposed to sitting at a screen all day, but I was kind of hoping that in my absense a few participants would have taken over the helm for me.
I can still answer questions.
Or can I take it that everybody who is implementing this strategy is 100% comfortable with it and making good pips?
Well in that case let's see some of you results. Post some charts and show us all how well you are doing. I'd really like to see that.
If you're not making good money then tell me what you are doing wrong and I will try and rectify the problem for you.
One very lovely lady has been kind enough to put together the entry/exit rules together in a standard single-page word document.
This can be ammended for any timeframe and will give you a clearer insight into how to trade the standalone timeframe.
Whether it be 5m alone or 60m alone. Once you have practised that diligently, then move on to 2 timeframes, but I inderstand that many of you have just the one screen so this will help you guys.
This will be a very good concise overview of the do's and don'ts of the strategy and will save you some precious time and give you a little head-start when attempting this strategy for the first time.
Please request which timeframe you wish to trade and I will send you the appropriate page. thefxpimp@hotmail.com
__________________ 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
Crude oil is not really sustaining any kind of southerly run but instrad to choosing to have a little relax on or around the weeky S1 level at $102.
Not likely to do anything major until such time as the 4hr 20ema catches up a little bit, so you could possibly see the $102-$105 range being played out again today.
A break eirher side will give us an overall better direction but my immediate short-term preference is for it to stay above the daily pivot and make a move from it's current 103.35 upto the 4hr 20 some 160+ pips away.
It's not a clear run, there is the 60m 50sma to overcome but a break of 104 might pave the way for a further 100 pips or a break of 103 south would see a 100 pip fill.
Not very specific but it's a difficult one with no defined suppot lines.
Well yesterday Euro saw for the first time a sharper fall than in cable, so remembering the football analogy it shows that cable was a stronger side than euro which in turn saw EURGBP drop some 100 pips.
That's what I want to see just before cashing in some pounds for euros for my trip, so well timed lads !
Big big elastic band on the Euro this morning and I am almost temptedto play the eurusd back upto the 60m 20 against the 252.
Swissie too looks like theres a gap on the downside to fill.
Not really looking at anything else at the moment.
__________________ 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 Crude does fall through the 103 theres a trade to be had, which would also give way to Gold falling and Ozzie might just follow through this support line.
Keep your eyes on 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
If Crude does fall through the 103 theres a trade to be had, which would also give way to Gold falling and Ozzie might just follow through this support line.
Keep your eyes on it.
Now that's what I'm taking about. 1-2-3. Break-Retrace-Slam
Break see's 63 oversold retrace sees 63 pillback, trigger gets you in on the red Heiken.
An easy painless 100 pips from these two in 20 minutes work and I'm off to see the wizard.........
__________________ 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
Now that's what I'm taking about. 1-2-3. Break-Retrace-Slam
Break see's 63 oversold retrace sees 63 pillback, trigger gets you in on the red Heiken.
An easy painless 100 pips from these two in 20 minutes work and I'm off to see the wizard.........
Mr. Pimp,
You are the man. I'll miss your early morning posts and I've just seen the Ozzie set up. Another missed that you put up for us all to catch.
Please, don't be too upset with the lack of posts here. I for one am working hard on my discipline rather than the strategy and guess what? My winnings are improving. Even if I miss some or even a lot, I'm not losing.
Besides, you are supposed to be enjoying the break.
Last edited by Honest Bill; 09-11-2008 at 12:11 PM.
Linear Mode
