It's All About The Pips...

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Well GOLD didnt hold the support and after entering long below the 848 resistance i bought again at just above 844.5 to average around the 866 level. It looked all set but was struggling at 848 on the 2nd run so i banked it for 10 pips.



The support was then retested and a perfect 123 opportunity was offered.



After a messy morning it has turned out ok with a few cheeky long pips on the USDCHF.



Cheers



D
 
Hi guys

USDCHF getting vv close to weekly pivot. Watch this for break.

Eurusd found support off weekly pivot. Will have to see if this turns back down.

I´m off.

See u tom.
D
 
Hi

Good morning ladies and gentlemen, I trust you are all well.

We have seen some continued selling in Brent Crude yesterday testing the $70 level. On the hourly chart, it seams that it may be finding some support at the weekly pivot. A break of the small support line at $71 may see a continuation play. Alternatively if we see a break of the 15 min 50 ma we may see a play north testing the four hourly 20ma.

Gold look like it is in a channel between $856 and $830. On the 5 min chart it looks rather week and seams that it wants to re-test the $836 mark.

Cable as created a double top on the hourly chart and doesn’t look like it want to go much higher. We have some support with the weekly pivot just below. If it can break through this at 1.7200 we may see an opportunity for a medium term position, re-testing the lows of 1.67. For a long position, look for a break above the four hourly 20 ma.

EURUSD has seen an early move testing S1 and could be creating a double bottom on the 5 min chart. For a short we are looking at the break of s1 for a short position or a break of the 15 min 20 ma for a long. In my opinion, it’s one to stay away from until we get a clearer setup
Have a great day.

Dan
 
Morning all

Gorilla is in a good mood today and looking forward to the weekend.

Crude has recovered some of its losses from yesterday and looks rather bid. If it breaks the resistance line from the previous two highs at $70.50 we may see a play up to $71.50 as a first target. Alternatively if it breaks the daily pivot at $69 and does a 123 move we may see a play south re-testing the lows at $66

Gold has moved aggressively over the past twenty four hours and is finding a bit of support of the support line from the lows at $786. If it holds this support we may see a play up to $813. If it breaks the support line we may see a move down to $785.

EURUSD is in a triangle on the 15 minute chart. We are in a down trend so a break of 1.3420 and a small 1234 move may see a play down to 1.3325. The upside potential is limited due to the fact that the four hourly 20 ma is just above.

GBPUSD has some immediate resistance at 1.7350; so look for a break of this before taking a long position. Alternatively, a break of the daily pivot at 1.7280 may see a play down to the weekly pivot at 1.7200. It could go either way at mom and know many traders short and many long so hard one to call.

Have a great day.

D
 
Morning all

The asians have moved the markets well overnight and seems the majors need a pullback as we speak. CABLE is falling off the R1 level and EURUSD pulling back to the pivot. Keep an eye for continuos trends this am.

OIL has the 60min 20ma crossing the 50ma, which is positive. Look for pullbacks b4 entering...

GOLD is in box formation between 60min 20ma and 50ma. Look for 123 long with a pullback to the 50ma.

EURUSD is showing signs of support at 1.3350 level but a lot of resistance above with the weekly pivot at 1.3550.

USDCHF is a flat as a table. Draw a channel and wait for a breakout.

USDJPY showing signs of strength. The 60min 20ma and 50ma are strong. Look for pullbacks b4 entering.

D
 
Morning all

Brent Oil is trying to pullback after falling to a low of $67.00. The Daily pivot is still below the weekly pivot but the 60min 20ma is above the 50ma which is a bullish sentiment. If it can hold the 60min 20ma then there could be a bounce, if not look for the break of the 20ma towards teh 60min 50ma (150pips lower)

Gold is in a clear triangle on the 15min chart. It looks weak at mom after retracing back to the pivot and it is starting to fall off as we speak. Look for the break of the support around the $791 level.

EURUSD had a powerful move down yesterday after a solid retracment back to its 50ma.The downtrend is most certainlyback on but i dont like to enter so far away from my 60min 20ma so i might be patient here.

CABLE fell from the 1.7500 level down to 1.7100 yesterday and again looks weak. I am still targeting the 1.6500 level for a longer term play. The 60min 20ma still needs to catch up so i need to be careful on any shorts here this am. It will come but be patient.

Have a great day...GOLD looks best at the moment (in the triangle) as probability in the others are too much against us...

Cheers
Dan
 
Last edited:
Well what a day...So much on offer and i didnt take it all.

Am i gutted no, as i made plenty of pips in GOLD and a few tidy pips in EURUSD.

GOLD def had the best setup and we hit a 795.00 bid early this am. Then using the CCI´s we traded with the trend and banked on the way down.

Bunny and the others made some great calls on the Cable and shared pips all round which was good to see. Others traded GBPJPY and made over 250 pips and the record for the day (i am hearing) is over 800 pips, so well done there.

Excellent trading to you all. I was conservative but hey thats the way it goes.

Speak tom.

Dan
 
Morning all

Well who would have thought that GBP would have fallen that much over night.

I have been predicting 1.6500 but not in a day!!!

Brent is in free fall, as well as GOLD, EUR and Indices.

I wouldnt stand in their way.

Trade with the trend and go with it.

Speak later

D
 
I am technically expecting retracments in cable, eur etc but want to see london show their support...

D
 
Well support held as u can see from the cable and eurusd charts. The 123 gave us the entry levels and it ended up being a great morning with a long in cable at 1.6315 and banking at 75, 90, 12 and 68...

We also took the gold gap trade for a ckeepy 25 pips b4 it broke down.

All flat now but london open ended up quite profitable.

Speak later
D
 
Watch cable and eurusd for upside this am...

Could test and break pivot here.

D
 
Morning

How much further can the EUR and CABLE fall without a retracement.

I thought yesterday we might get a few pips on the upside through the pivot but it never materialised.

I have nerves this am as the market looks so weak still but selling through the weekly support 3 makes me tingle in my bones. Any other market conditions and you would see a big pullback but this shows how weak the GBP and EUR currencies are... Stay with the trend until it shows otherwise.

OIL and GOLD are in free fall as well, as demand for OIL is falling. Key support at the $64 per barrel so beware of any turbulance around this area.

Ok speak later.

D
 
Morning all

So are we going to see retracements or are we going to see continuos weak GBP and EUR.

The way the charts are they are set for a fall so lets see what 7am brings.

D
 
Last edited:
Well all worked out quite well....

Short cable at 1.5685 and banked at 1.5605, 1.5555, 1.5505, 1.5520, 1.5410, 1.5410. Banked 6 times for a few cheeky pips.

Also shorted cable at 717.5 and banked at 715.0, 712.0, 709.0, 711.8. Banked 4 times here...

All flat now...was tempted on long cable on bounce off fridays low but missed the bounce.

Anyway good day so far.

D
 
Daily pips

powermillionx said:
hi everyone,

does anyone here have a system that can make pips everyday?

i appreciate your help.
Click to expand...


Hi powermillionx

You have come to the correct place. Send Dam a private message regarding the London Open live chat room. Its a rare day when less than 50 pips are made by 9:30am

hope to see you there
Paul
 
Everything is above pivots so look for retrcaements b4 a push higher.

Sorry report is short but rushed this am.

D
 
Morning all

Sorry will respond to indiviual messages today. Apologies for delay.

Big retracements are on and what a pullback in GBP. When u r that far below the S3 pivots the pullbacks were going to be aggressive.

I am not sure how long this move will last for but any cross with the 60min 20ma and 50ma will see heavy selling back into play in the next week or so. Be aware of this as the GBP down move is probably not over as rate cuts are expected to be cut to around th 2% level, if not below.

Yes the US cut 0.5% but that was expected and thats why the DOW didnt respond as well as thought.

USDJPY could have a play up. Be aware of daily 20ma. EURUSD and CABLE shoudl remain bit but need retracements first.

Gold is in a triangle sowait for break and OIL will remian bid so buy on dips.

Enjoy

D
 
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