It's All About The Pips...

[ekanters]

Positive

Ofcourse Dan,

Markets on the positive side again this morning and the USD n retreat because of that. Its the 4 hr charts that realy do the trick. Man what a trades. when you would have been in all of these trades jumping up and down you should own a private eiland by now. And that just after 2 days or so. Volatility is increasing, massive fights between bears and bulls but for us traders its happy time. What do we want more??? LOL And the sun is also shining. Siting with my laptop outside near the Koi fish. I did not say to jump of a cliff Dan, I just said in a few words when you are smart and stay ahead of the cowd a lot of pips can be made. UP and DOWN.


Yours ???? well sometimes a bear but when I have to A bull.

Erik

 

[danarm]

hahahha

Good man...Now thats more like it.

I agree its good times for traders and even if you made the small amount of pips we made today you would have to be happy.

Cheers Erik.

D

 

[danarm]

Ok breaks are on...

UJ, GJ & EJ

Pips galore.

D

 

[danarm]

Ok so played break in EJ at 75, banked at DP which is support, shorted again at 80 for the 123 and looking for it to now break the DP which is the neckline. You can keep a tight stop above the figure if u like which was the previous break.

Lets see.

D

 

[danarm]

Banked the short again at the DP and will re enter on break of DP ...

A solid 100 plus pip trade...

D

 

[ekanters]

Thinking

Hi all,

When there has ever been a few days that realy proved we should stop thinking it was the last 2 days I think. Thinking yesterday everything should go down my thinking on this matter has change completly. But thinking about what could happen tomorrow my real thinking is why the .... am I still thinking.

Also old fashion stuff has prooved to be wrong these days. Wallstreet down, oil down, gold down and guess what the dollar also went down. I see you thinking this is just a freak day I think I have to disagree.

Lesson for the future. If you want to survive these markets you have to throw everything ever learned overboard and stop using your head because the only thing that can rescue you now is your eyes. Don't think but trade what you see.

I will keep hammering that the only charts that can show you the way right now are the 4 hour charts. They have been extremely accurate for me the last few weeks. All other charts only produce noise. I wish I did not need any sleep and trade 24 hours a day. Because the wonderfull reversal signal for the move up came overnight in Japan and at that time I was in dream land. Maybe the Japanese will do it again tonight.

4 hour charts are realy $ Charts.

Forever your Bear, Bull, Bear, Bull, Bear.... Can't think straight anymore.

Erik

 

[allgood]

got a courtesy call from kimmi last night. i thought that was a nice touch.

nicked 51 pips from eurjpy and usdjpy today. got a little left on usdjpy which ill close before 9 am.

dont normally trade Fridays but happy with that. lovely way to start the weekend.

cheers dan

 

[ekanters]

Asia

Hi guys,
Just woke up after I entered the reversals in Asia again as mentioned yesterday and see all is well on 6 pairs. How nice can trading be.

Closed them all right away because the 4 hr candles have come a long way.

Your Bear again.

Erik

 

[danarm]

Good morning all

This market could go either way today so lets be patient for the direction.

Wall St is stuck in its range above 8,000 and below 8,187. We really need to see a break of one of these levels to help kick start the market again.

Yesterday saw the USD weaken across the board and we should now keep a firm eye on USDCHF as a guide to see if this trend will continue. I for one will only be looking to sell USDCHF if it breaks back below 1.0785 which avoids the trap of the 15min 50ma. Wait for the break and play the 123 for confirmation.

CABLE
• A lot will depend on the USD (as mentioned) so keep an eye on DOW FT and USDCHF.
• The rally was strong yesterday and today we need to see early support for GBP to have any chance to remain up here.
• Technically the 60min trend is up but the 15min 50ma is above the price at the moment at 1.6340 so we must hold off.
• I would like to see a 123 through the MP with a positive bounce off the 15min MA Golden Cross. That would give me the confidence to go long.
• We have seen how strong the DPs have been in the past so on the downside I would need to see a break of the DP and a 123.
• 1st level of support is 1.6265 & DP at 1.6247. Wait for breaks.

EURUSD
• Similar to CABLE and we must be patient.
• For me only long play if we have a 123 through the MP at 1.4041.
• The 15min 50ma is above so we need to be patient on any long plays and wait for 15min Golden cross.
• On the downside we are boxed between the 60min 20ma and 50ma which makes it hard to trade from here.
• All CCI´s suggest down and a break through 1.3962 would suggest weakness in EUR but technically we might be better to play EURJPY.

GBPJPY
• Technically the 4hr looks reasonably weak but the short term charts showing signs of strength.
• The 60min trend is up for now but a break below 150.75 must surely mean further weakness in GBP, with the 4hr trend winning the battle.
• Lets look for a break of this level and if the CCI´s are oversold at entry then wait for the 123.

EURJPY
• 4 hourly and Daily trend are down.
• The previous low on the 4 hour candle is 129.64.
• This is probably setup better than any other chart as we stand with limited risk.
• Lets look for the break of this support and hopefully UJ below 92.76 for a move lower.
• The DP, 60min 20ma and 50ma etc are behind us so all we need is a break of 64 to test WS3 at 129.20 region as 1st target.
• Lets keep an eye on UJ and EURUSD for any signs of JPY strength and EUR weakness.



Verdict

EURJPY is set up the best for a short through support at 129.64 but would like to see UJ and EURUSD pushing lower.

 

[danarm]

Morning all

We said we wanted to make early pips and we did just that.

As per the notes EURJPY was our lowest risk and highest probability trade. Some shorted EURUSD as well so got double the amount of pips.

We shorted on teh break at 129.64 and chipped away with small banking on the way down with the last bank at 128.90. (We also sold Uj and chipping away with that as well from 92.75 to 92.47)

As mentioned before June was a sideways market so limited pips for me. July starts and trends come flying our way and we make 1000+ pips in a week again.

Golf this afternoon so enjoy the rest of the day and lets get 1000 pips again next week.

D

 

[volector]

Gutted. Caught a little of Monday, and then off to the UK to spend the week in the office with IT rules preventing me from logging in. Now stuck in Charles de Gaul, and will not return home until the end of the day. Next week, may find myself in Malaysia...

 

[sinib]

Hi Dan

I was in the fx500club abot two months,but now I am on holiday I will be back in the room next week.Now, sometimes I take some trade here,but I am not able to follow room here, I am waiting only to be back at home and I am comming in the room.Every trade I have opened here I took it with things i learned in fx500club and I have closed every with profit except one. Thanks to fx500club and thank you Dan.

Sinisa Brkic

Morning all

We said we wanted to make early pips and we did just that.

As per the notes EURJPY was our lowest risk and highest probability trade. Some shorted EURUSD as well so got double the amount of pips.

We shorted on teh break at 129.64 and chipped away with small banking on the way down with the last bank at 128.90. (We also sold Uj and chipping away with that as well from 92.75 to 92.47)

As mentioned before June was a sideways market so limited pips for me. July starts and trends come flying our way and we make 1000+ pips in a week again.

Golf this afternoon so enjoy the rest of the day and lets get 1000 pips again next week.

D

 

[ekanters]

Hi Dan

Every trade I have opened here I took it with things i learned in fx500club and I have closed every with profit except one. Thanks to fx500club and thank you Dan.

Sinisa Brkic

Hey Sinib,

I totaly agree with you but don't forget James and our Mr Pimp. I am doing quite well but have to say from the bottom of my heart I could not have come this far without a few bangs against my head from these masters in trading. They have given me the tools like banking and targets. I myself added the perfect entries and discovered that by accident. The combination of the FX 500 club and my own dressing on top of that does wonders. I can recommend the club to every trader and when I say every trader I also mean professional traders because it could fresh up some basic things.

Hail to the FX 500 team without a doubt.

About 15 min ago I could not let it go and sold GBPUSD and GBPJPY. What more can one disire. I would never ever have traded these things before my learning path at the FX 500 club.

Your forever Bear,

Erik

 

[tommac]

What Ekanters said---Last day today--thanks team--its been great. Off to chill for summer and back later to continue topping up the bank balance hopefully--cheers
Tom

 

[ekanters]

GBPJPY and GBPUSD

Just for the record. I closed GBPUSD with 85 pips and GBPJPY with 175 pips.

Erik

 

[sinib]

Hi ekanters

No,no. I do not forget ever James and our Mr Pimp,especily Mr Pimp I have tried frist his strategy 5 min and 1h and afther that I have discovered fx500club, because of that Mr Pimp is no.1 for me I do not think in school, I think in trading, he has changed my view in this forex market, as you just told :

(They have given me the tools like banking and targets. I myself added the perfect entries and discovered that by accident. The combination of the FX 500 club and my own dressing on top of that does wonders. I can recommend the club to every trader and when I say every trader I also mean professional traders because it could fresh up some basic things.)

Same things with me. Thank you very much fx500club.

Best regards

Hey Sinib,

I totaly agree with you but don't forget James and our Mr Pimp. I am doing quite well but have to say from the bottom of my heart I could not have come this far without a few bangs against my head from these masters in trading. They have given me the tools like banking and targets. I myself added the perfect entries and discovered that by accident. The combination of the FX 500 club and my own dressing on top of that does wonders. I can recommend the club to every trader and when I say every trader I also mean professional traders because it could fresh up some basic things.

Hail to the FX 500 team without a doubt.

About 15 min ago I could not let it go and sold GBPUSD and GBPJPY. What more can one disire. I would never ever have traded these things before my learning path at the FX 500 club.

Your forever Bear,

Erik

 

[danarm]

Hi Dan

I was in the fx500club abot two months,but now I am on holiday I will be back in the room next week.Now, sometimes I take some trade here,but I am not able to follow room here, I am waiting only to be back at home and I am comming in the room.Every trade I have opened here I took it with things i learned in fx500club and I have closed every with profit except one. Thanks to fx500club and thank you Dan.

Sinisa Brkic

Hi Sinisa

That is really nice to hear... I am very happy for you and long live those pips.

We are over our dry period from June and back in the big piparoonies for July.

Trading is all about being patient and waiting for those big moves.

We look forward to seeing you back in the room again soon.

See u soon my friend.

D

 

[danarm]

What Ekanters said---Last day today--thanks team--its been great. Off to chill for summer and back later to continue topping up the bank balance hopefully--cheers
Tom

Hi Tom

I have to say it has been a pleasure trading with you.

Have fun and look forward to your return.

D

 

[ekanters]

H&a

Maybe maybe not. Inversed Head and shoulder on 4 hr eurusd????

 

[danarm]

That was one long week and I am glad we are done. The market continuesto trade like an old man well past his peak. There is not a strongsense of panic yet, however Russia in particular seems to be driftingslowly wider on a daily basis. The news flow has been ok of late andyet the green shooters are starting to lose their voices. You all knowmy view so I wont repeat it however for me the most important event ofthe past few weeks was the BOE halting its QE programme. Now there arevarious theories as to why this happening and as always I have one. Idon't buy the fact they are halting as its been successful and the Vshaped recovery is well on its way. I think the opposite, there is dataout there to suggest that QE and the market rallying are linked. Banksare still not lending directly so the money instead of finding its wayinto the real economy is being recycled back into the market creatinganother bubble. This of course is my theory only and the BOE havepaused their operations to assess what happens to the markets and moneysupply in the interim so watch this space. Its not all D&G however as Ihave some good news for you green shooters out there. 4 of my friendswho lost their jobs over the last 6 months have all found themselves newroles relatively easily in the past few weeks so there is some realanecdotal evidence! I am looking forward to next week, more earnings,will the market hang in there, and THE OPEN begins. Enjoy the weekend!

Mr P......