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rags2riches
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Danarm is that you? 
Great thread BTW. I like the idea of catching the 1st swing on crude every am.
YouTube - Cadbury's Gorilla Advert Aug 31st 2007
YouTube - Cadbury Gorilla goes ape on set!
Great thread BTW. I like the idea of catching the 1st swing on crude every am.
YouTube - Cadbury's Gorilla Advert Aug 31st 2007
YouTube - Cadbury Gorilla goes ape on set!
todd960960
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Hi Dan....Great board and a wealth of education. Thank you.
When the CCI63 drops down below the zero line and it's color is grey, is that not to be taken until it turns yellow or red? Today at 19:45 I took the 5m short eur/usd when it brokedown below 1.3800 I was only trying for 20 pips and ended up losing about 30 or so. I did notice gold was flat and slowly inching it's way up after I took the trade. Was that a losing trade before I even took it? When it sat there for 3 or 4 bars going sideways, was that a signal to get out? I used the 20ma as a s/l
Thx,
Todd
When the CCI63 drops down below the zero line and it's color is grey, is that not to be taken until it turns yellow or red? Today at 19:45 I took the 5m short eur/usd when it brokedown below 1.3800 I was only trying for 20 pips and ended up losing about 30 or so. I did notice gold was flat and slowly inching it's way up after I took the trade. Was that a losing trade before I even took it? When it sat there for 3 or 4 bars going sideways, was that a signal to get out? I used the 20ma as a s/l
Thx,
Todd
danarm
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Morning all
Following some big falls in brent crude yesterday, crude still looks weak. It is still below the 15 min 20 and the 15 min 50 moving average. A break above the 15 min 20 and support of the 90.20 area would be a sign for a small pullback towards weekly pivot (ws3). The 252 CCI has been down for a long time, and although the crude still looks weak, how much more can it go without a pullback.
With crude starting to fall again, and gold just below the daily pivot at 846 if the 5 min 20 MA can cross we may see a play down to WS2 at 834.60. Alternatively, a break above the daily pivot at 846.50 with a 123 move may see a play to WS1.
EURUSD has broken above the daily pivot. If gold can break above the pivot a long on EURUSD, is setup for good play to 1.3950
GBPUSD has broken up to with the angle of the 1 hour moving averages showing some strength in a move north. A break of 1.7730 with support of the WS2 would be a good sign of some
USDJPY 105.10 is the key level, is the 63 CCI can break back down for a short play.
D
Following some big falls in brent crude yesterday, crude still looks weak. It is still below the 15 min 20 and the 15 min 50 moving average. A break above the 15 min 20 and support of the 90.20 area would be a sign for a small pullback towards weekly pivot (ws3). The 252 CCI has been down for a long time, and although the crude still looks weak, how much more can it go without a pullback.
With crude starting to fall again, and gold just below the daily pivot at 846 if the 5 min 20 MA can cross we may see a play down to WS2 at 834.60. Alternatively, a break above the daily pivot at 846.50 with a 123 move may see a play to WS1.
EURUSD has broken above the daily pivot. If gold can break above the pivot a long on EURUSD, is setup for good play to 1.3950
GBPUSD has broken up to with the angle of the 1 hour moving averages showing some strength in a move north. A break of 1.7730 with support of the WS2 would be a good sign of some
USDJPY 105.10 is the key level, is the 63 CCI can break back down for a short play.
D
Hi
Frustrating morning for me...lost 20 pips on eurusd and 10 on Crude...
EURUSD didnt participate due to the GOLD after a strong start and CRUDE was just painful. Got in at 90.20 as mentioned on the chat and then it stalled, i was hungry and it started to drift so i cut it and then bam 120 pips higher...Oh well this happens.
Loking forward to trading this avo...Could be a gd one.
D
Frustrating morning for me...lost 20 pips on eurusd and 10 on Crude...
EURUSD didnt participate due to the GOLD after a strong start and CRUDE was just painful. Got in at 90.20 as mentioned on the chat and then it stalled, i was hungry and it started to drift so i cut it and then bam 120 pips higher...Oh well this happens.
Loking forward to trading this avo...Could be a gd one.
D
Also frustrated today. I went short cable, was happy with the trade. Noticed the guys in the chat room going long EUR/USD and Cable instead and thought I must have missed something so closed out for 25pips. Missed the subsequent 100 pip move. Will listen to myself going forward!
Been too busy this week to trade properly. Back to normal from Monday so should be better. We'll see!!
Been too busy this week to trade properly. Back to normal from Monday so should be better. We'll see!!
Rollingstone
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Chat Room Blues
Hi All
It's so great seeing you all make obscene amounts of pips with Dan in his chat room. Sadly I haven't made it in there yet due to being stuck in the rat race (I must have one of the only jobs in property that's still manicly busy!), but it sounds amazing. Please, please, please carry on posting your success stories to keep inspiring me!
I can hardly wait for my next day off to join in the action - and thank you Dan for all your words of wisdom and charts you have posted on this thread, they are all very much appreciated.
Good luck next week pipsters and have a great weekend y'all.
RS
Hi All
It's so great seeing you all make obscene amounts of pips with Dan in his chat room. Sadly I haven't made it in there yet due to being stuck in the rat race
(I must have one of the only jobs in property that's still manicly busy!), but it sounds amazing. Please, please, please carry on posting your success stories to keep inspiring me!I can hardly wait for my next day off to join in the action - and thank you Dan for all your words of wisdom and charts you have posted on this thread, they are all very much appreciated.
Good luck next week pipsters and have a great weekend y'all.
RS
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peppertree2
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HI Dan,
Nice to speak with you again. It's great you, Zak, Monkey and Hemal have the chat room up and running. Thanks so much for all you and the others do. Will be looking forward to joining you in the AM!
Thanks, Pepper
Nice to speak with you again. It's great you, Zak, Monkey and Hemal have the chat room up and running. Thanks so much for all you and the others do. Will be looking forward to joining you in the AM!
Thanks, Pepper
danarm
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Good morning everyone, I hope that you all had a good weekend.
Following a volatile day in the markets with Non Farm Payroll crude is still in a strong downtrend with our 4 hour moving averages still very stretched. We have a daily support coming in at $87. On the shorter time frame, we some resistance at the $89.80 level for which we need to see a break of the $88.90 mark. I would be concerned about shorting crude at this level because of the gaps to the upside, however we may see a play down to the support at $87.
Gold is also still on a down trend on the 1 hr chart, holding resistance of the daily 20 ma and support of the daily 50ma at $826. A break of 829 or $826 may see a play down to $819. The upside break of $835 may see an attack towards $845.
EURUSD is setup similar to the 1hr crude chart. It is still in a strong downtrend with the immediate support at 1.3600. The 252 CCI has been down for sometime and it does not seem to have the momentum to go much lower at the moment. However a break of 1.3580 may see a move towards the weekly 200 ma at 1.3400. A break of 1.3650 may see an attack to close the gaps on the moving averages, with a first target of 1.3720.
Cable is also still in a down trend, with the daily lows at around 1.7450. A break of ds2 at at 1.7560 would signal that it wants to go lower towards the daily support. However, with so much red on the daily chart, this certainly needs a pullback. A break of ds1 at 1.7610 may see a move higher with a first target of 1.7660
Have a good day.
D
Following a volatile day in the markets with Non Farm Payroll crude is still in a strong downtrend with our 4 hour moving averages still very stretched. We have a daily support coming in at $87. On the shorter time frame, we some resistance at the $89.80 level for which we need to see a break of the $88.90 mark. I would be concerned about shorting crude at this level because of the gaps to the upside, however we may see a play down to the support at $87.
Gold is also still on a down trend on the 1 hr chart, holding resistance of the daily 20 ma and support of the daily 50ma at $826. A break of 829 or $826 may see a play down to $819. The upside break of $835 may see an attack towards $845.
EURUSD is setup similar to the 1hr crude chart. It is still in a strong downtrend with the immediate support at 1.3600. The 252 CCI has been down for sometime and it does not seem to have the momentum to go much lower at the moment. However a break of 1.3580 may see a move towards the weekly 200 ma at 1.3400. A break of 1.3650 may see an attack to close the gaps on the moving averages, with a first target of 1.3720.
Cable is also still in a down trend, with the daily lows at around 1.7450. A break of ds2 at at 1.7560 would signal that it wants to go lower towards the daily support. However, with so much red on the daily chart, this certainly needs a pullback. A break of ds1 at 1.7610 may see a move higher with a first target of 1.7660
Have a good day.
D
danarm
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Hi Stuart
Yes agreed..Mondays can be like this..The Asian market had the fun and that always makes the london open difficult.
Important not to rush trades if nothing is there...
Morning to watch now and regroup for US open.
Lost on Cable and made some back on GOLD. Small down now for day on pips..
Speak later.
D
Yes agreed..Mondays can be like this..The Asian market had the fun and that always makes the london open difficult.
Important not to rush trades if nothing is there...
Morning to watch now and regroup for US open.
Lost on Cable and made some back on GOLD. Small down now for day on pips..
Speak later.
D
JTrader
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Hi Dan
one thing that i think needs pointing out concerns Gold.
You said that you include gold in your monthly 1000 pip target. Gold moves like greased lightening, and the spreads is 50 pips alone. Making 1000 pips profit just on Gold is maybe equal to making 100 pips profit on EURUSD.
Gold would therefore also require MUCH bigger stop losses than eg. EURUSD. This would be accounted for in the % capital risk per trade, meaning that 200 pips P/L on gold is equal to the P/L of maybe 20 pips on EURUSD in terms of £/$/€ net profit/loss (depending on the average daily range etc. of both instuments. My factor of 10 is just a guess), if gold requires 10 times the SL size of EURUSD.
Therefore its worth remembering and pointing out that all pips are not equal.
one thing that i think needs pointing out concerns Gold.
You said that you include gold in your monthly 1000 pip target. Gold moves like greased lightening, and the spreads is 50 pips alone. Making 1000 pips profit just on Gold is maybe equal to making 100 pips profit on EURUSD.
Gold would therefore also require MUCH bigger stop losses than eg. EURUSD. This would be accounted for in the % capital risk per trade, meaning that 200 pips P/L on gold is equal to the P/L of maybe 20 pips on EURUSD in terms of £/$/€ net profit/loss (depending on the average daily range etc. of both instuments. My factor of 10 is just a guess), if gold requires 10 times the SL size of EURUSD.
Therefore its worth remembering and pointing out that all pips are not equal.
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JTrader
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.....Looking at the High-Low range of the Hourly gold chart, the last candle, 1100-1200 UK time today, by my definition of what a pip is, has moved 2110 pips in one hour - from 838.95 - 860.05.
Is my understanding of what a Gold Pip actually is - correct?
Cheers.
Is my understanding of what a Gold Pip actually is - correct?
Cheers.
danarm
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JTrader
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Ah thats good. So for you, if this is your definition of gold pips, this is better than i was suspecting. So by this definition, 1000 gold pips, is actually 10000 gold pips by the definition i was proposing/suspecting.
Cheers.
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