It's All About The Pips...

[jev]

Hi all,

New member here, though not new to Dans strategy, been following him for a while now.

Steve, you need to make sure you are using the same MT4 as Dan, ideally download the one from WHC as that shows all the same instruments.

Once you have installed it and have your "Dan Charts" up and running goto view ...MarketWatch, right click in there and select "show all", this will bring up everything that is available, you will then be able to select oil which is listed as CL

Hope this helps

I get the full list...but on mine CL refers to Light Sweet Crude Oil...which gives me a price for Nov US Crude...CLX8

 

[jev]

D
Is eur/usd looking oversold at these levels...the 252cci is -424?
Jev

 

[stevexyg]

Hey Jev,
looking at Dan's previous chart for crude looks like he's using WTI which is two lines below CL. It's also a future Nov (ICE?). It's like looking for the proverbial needle in a haystack searching through the tiny market watch screen but I've found if you click the 'new order' button on the task bar you can then search through a larger-text list and atleast easily see if the stock you're after is at the begining, middle or bottom of the market watch screen from where the desired chart is selected.
Steve

 

[danarm]

Morning

It seems Wall Street is going to get bailed out. Do we see small USD recovery today with CRUDE and GOLD lower!!!

CRUDE is below weekly pivot on 60min chart and i am short on the 5min on entry at 102.40 level. Its set below the daily pivot and looks potential for a few cheeky pips this am. GOLD is similar and the 63CCI looks set for a break as well. Short at 875.00 so lets see how this moves from here.

The Asians have had fun overnight and the USD has strengthened and i presume this will continue into London, so far. I would prefer a retracement on the 5min chart for entry in EURUSD as there have already been a few red Heiken's. Allow the 63 CCI to pull itself back. The 60min chart shows very little support below so could this be a bigger move down to the 1.4000 level.

CABLE is in a similar state and just crossing the daily 20ma as we speak. Could this be the next move down to below 1.8000 and again to 1.7500. The 5min suggests i need a retracement and S1 is just ahead so not going to jump in yet.

Speak in a bit. Need to watch this.

D

Hi all

Look at that EURUSD and CABLE go...

If you look at the 4hour chart, look how little support there was below and that is why we are targeting 1.7500 and 1.4000 on our longer term play. Not far to go with the EURUSD.

Speak soon.
D

 

[jev]

Hey Jev,
looking at Dan's previous chart for crude looks like he's using WTI which is two lines below CL. It's also a future Nov (ICE?). It's like looking for the proverbial needle in a haystack searching through the tiny market watch screen but I've found if you click the 'new order' button on the task bar you can then search through a larger-text list and atleast easily see if the stock you're after is at the begining, middle or bottom of the market watch screen from where the desired chart is selected.
Steve

No not on mine ...Natural gas is below CL...thats then the end...

 

[JTrader]

Hi all

Look at that EURUSD and CABLE go...

If you look at the 4hour chart, look how little support there was below and that is why we are targeting 1.7500 and 1.4000 on our longer term play. Not far to go with the EURUSD.

Speak soon.
D

Exactly, there are big gaps in the H4 chart between the support levels. Once they fail, price has moved quickly down to the next. The same can be seen on H1. Entries can be refined on M5-M15-M30 from these said levels.

Obviously there needs to be some fundamental reason for price to drop 300 pips also maybe. But because these S/R levels have been formed by price action over the big ranging last 2 weeks, with big swings, and leaving big gaps between S/R, it stands to reason that these big gaps between S/R will be quickly filled until the daily range (has reason to) calms down a bit.

 

[danarm]

No not on mine ...Natural gas is below CL...thats then the end...

No i am using OIL with ODL...

This chat is nearly set up.

That means we can have live commentary in the mornings.

D

 

[Stuart14]

Exciting!!

Although i'm an **** in the mornings. Maybe i'll just listen in!!!

 

[danarm]

Exciting!!

Although i'm an **** in the mornings. Maybe i'll just listen in!!!

Ok my new office is all set up...Lovely.

I´m off home and will see u all tom. Hopefully get u in this live chat tom, for those who are keen.

D

 

[stevexyg]

Support around 1.7760 on gbp/usd, are we saying this has a good 200pips on the way down today? or longer term than that would you say?
cheers, steve

 

[options]

Ok my new office is all set up...Lovely.

I´m off home and will see u all tom. Hopefully get u in this live chat tom, for those who are keen.

D

What are the details Dan?

Just download skype and find you?

 

[jev]

Ok my new office is all set up...Lovely.

I´m off home and will see u all tom. Hopefully get u in this live chat tom, for those who are keen.

D

D
Let me know how to get on board...still not tried out my skype...like having a new toy, but can't open the box...
Jev

 

[stevexyg]

jev-
are you using the mt4 from odl? i think that's the answer cause it shows up 'OIL' as being brent crude non-future whereas there are variations on the same platform (mt4) depending on the providers options eg whc,metaquotes,odl etc. i just switched from whc to odl mt4.

 

[rossobonks]

Im fancying another short on crude if it breaks the 60m 20. CCI`s lookin down so I might just pull the trigger...if and when..

Dave

 

[stevexyg]

Support around 1.7760 on gbp/usd, are we saying this has a good 200pips on the way down today? or longer term than that would you say?
cheers, steve

OK i can see that is a stupid question as it's already fallen 300pips today still, made an acceptable 30pips shorting the big bounce at 1.7810
small beginings!

 

[danarm]

Want to go home but look at this setup in Cable for a few cheeky pips above the figure. Its risky as GBP is very weak so need to see if it breaks the 1.7800 level.

Very tempting... Ok i must go soon...

D

 

[stevexyg]

Want to go home but look at this setup in Cable for a few cheeky pips above the figure. Its risky as GBP is very weak so need to see if it breaks the 1.7800 level.

Very tempting... Ok i must go soon...

D

In on this one at 1.7808. Can u see this reaching 1.7900 region this afters? Looks reasonable!
Cheers.

 

[stevexyg]

nice call Dan, going strong at 1.7830...

 

[rossobonks]

Very nice call indeed...pure professional... all the way back upto daily S1 support.

Excellent stuff

Dave

 

[jev]

Want to go home but look at this setup in Cable for a few cheeky pips above the figure. Its risky as GBP is very weak so need to see if it breaks the 1.7800 level.

Very tempting... Ok i must go soon...

D

D
Just got back in the office...what does 'the figure' mean?
Jev