I felt like it would be over at around 1.9928. The MA on the one hour held pretty much. The 4hour and 1 hour RSI's were coming back to the top i thought. The 5 minute showed the diamond and a weakening trend. We shall see.

Took the news short (as well as the pre-news long --- for 2 pips!) Unfortunately I made a mistake I will never, ever make again. I placed a market order manually and forgot to check the size of lots traded and lost out on a lot of profits. The lesson is to know your default lot sizes or check each time how much is being traded.

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I thought about doing that. That retail number was horrible. After the 12 bar the CCI overheated, and i thought about neglecting that to short. I guess that begs the question - is this just an 8% trade (keeps going) or if news will have a pronounced impact should you neglet the signal?

Best,

cl

thks cl.

i use a 30 cci for fx. Its kinda similar to something I use for futures which is set at 5,14.
i think i saw somewhere in here on an indi called eco. Which is the ergodic candlestick osc. Thats what i use in place of a cci for futures.

in addition, like the pbf heatmap indi for tradestation, its pretty much a cci.
But coded in histogram dual color and shows extremes for px move where the
bars change to yellow.

So cci is one thats used widely in many system/method set-up

thks again cl


cheers

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Price and timing is all thats important for pips.

He ya we got it !

+50 pips and on the greedy account i stay in, protected @ breakeven.

KEEP THE FAITH !

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Picasso is the best !

:-)

I took the re-entry on the 5 min at 1255....good for +25 ( time for the day job...). NIce short on the Eur as well.

Best,

cl

WOW Cl, how did you take this Short with an announcement lurking in the shadows? You must have made a very nice profit here? I did not trade it due to the announcement.

Thanks for doing the "homework" - glad you found the same as I did.

Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

100 pips achieved !

Attached Images

ScreenShot273.jpg (81.8 KB, 136 views)

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Picasso is the best !

Congratulations Joe. My question though is why have you taken the trade against the H4-RSi and on top of that the price bounced off the 100-EMA?? How big was your STOP?

Shaun also got sucked in there, but after i explained to him about the 100-EMA, he won't be entering into losing trades for a while.

At the point where you shorted, I still felt that the direction was LONG - only after the announcement that the direction changed.

Please share with us some of your wisdom.

Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

I agree with Valeo - the market was showing a long bias right up till the UK news - CBI Distributive Trades Realized - at 10:00am GMT. Immediately thereafter it switched and has been running short ever since.

To illustrate this I have attached a 1hr chart of cable. I run 3 windows of the 3PER RSI combination - 1hr, 4hr and Daily to give a clear view of possible movement opportunity. You can see from the chart that the last 4 candles have had a short bias as the RSI-2 (green)/RSI-4 (red) crossed down below RSI-8 (blue) in all windows simultaneously. That often signals a good run - especially when RSI-4 (red) is below 50% line for a short and vice versa for a long.

Thanks
Shaun

Below is the cable 1hr chart of today:

Attached Images

290708 cable H1 all.jpg (203.5 KB, 129 views)