KillPhil08
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Nah dude, the more the merrier.
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KillPhil08
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Right:
Yesterday and Today woke up later = NoNo. Never again! (unless for good reason)
.
Anyhoo, I really don't work well when markets start to trend, you have to identify it and I went against the grain.
I got a bit mucked up on cable and more or less had to scratch every trade or take minimal losses/gains. Fortunately I was long EURGBP which managed to cover all losses and more (really have to up my stake in EURGBP).
Time for some rundowns:
CABLE:
Daily: Well, I said it looked like it was going to breakdown and it has. There isn't any significant candle patterns but I hope this will be the start of a new trend.
Interesting little PA i saw happening:
4H: I just wanted to show you how it's trading under the old range.
1h: I'm really in a rush now sorry guys, basically I'm hoping this is trending down (is the jist of it) if not I REALLY want this to hold this new range area. The pictures should explain enough.
5m: Here are some of my trades, didn't get much done.
Yesterday and Today woke up later = NoNo. Never again! (unless for good reason)
.Anyhoo, I really don't work well when markets start to trend, you have to identify it and I went against the grain.
I got a bit mucked up on cable and more or less had to scratch every trade or take minimal losses/gains. Fortunately I was long EURGBP which managed to cover all losses and more (really have to up my stake in EURGBP).
-----------------------
Time for some rundowns:
CABLE:
Daily: Well, I said it looked like it was going to breakdown and it has. There isn't any significant candle patterns but I hope this will be the start of a new trend.
Interesting little PA i saw happening:
4H: I just wanted to show you how it's trading under the old range.
1h: I'm really in a rush now sorry guys, basically I'm hoping this is trending down (is the jist of it) if not I REALLY want this to hold this new range area. The pictures should explain enough.
5m: Here are some of my trades, didn't get much done.
KillPhil08
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Unfortunately I haven't been looking at EUR/USD lately but I think that it's on the daily trendline now. Might be some big players coming in soon!
USDCAD:
I traded the BoC announcement, I saw the support line (sorry i need to add 4h so you can see it). Went long small stakes, added more on the way up. Momentum died at 80-90 so I cut 50% with a 20pip stoploss, It kept going up (woohoo) and slowed down in the 20's. So I cut it fully. Then later I went long again realising there should be a triple / double top. This worked well and then I reversed my order once the DT/TT was hit getting stopped at 20 again due to lack of momentum (I ideally wanted the round number).
EURGBP:
Yesterdays losses on cable was made up by EURGBP, I tend to find that it only goes once direction a day fortunately I got in early. This picture didn't show the 1st exit on it (8915).
FTSE:
My old friend the ftse, Here are the trades I did on 1minute charts. Basically just opened the chart and hit it staight away. Easily the best market at the time for me.
Once again, sorry for the rush - I didn't really explain anything but I hope the charts might keep you entertained. I'll put pips risked and received for the last two days tomorrow.
Any questions just say, please join in the fun by making your own calls etc.
Phil.
PS: ****ing HELL, my grammar is bad "shows more older levels" what the hell am I on. I'll pay more attention next time.
USDCAD:
I traded the BoC announcement, I saw the support line (sorry i need to add 4h so you can see it). Went long small stakes, added more on the way up. Momentum died at 80-90 so I cut 50% with a 20pip stoploss, It kept going up (woohoo) and slowed down in the 20's. So I cut it fully. Then later I went long again realising there should be a triple / double top. This worked well and then I reversed my order once the DT/TT was hit getting stopped at 20 again due to lack of momentum (I ideally wanted the round number).
EURGBP:
Yesterdays losses on cable was made up by EURGBP, I tend to find that it only goes once direction a day fortunately I got in early. This picture didn't show the 1st exit on it (8915).
FTSE:
My old friend the ftse, Here are the trades I did on 1minute charts. Basically just opened the chart and hit it staight away. Easily the best market at the time for me.
Once again, sorry for the rush - I didn't really explain anything but I hope the charts might keep you entertained. I'll put pips risked and received for the last two days tomorrow.
Any questions just say, please join in the fun by making your own calls etc
.Phil.
PS: ****ing HELL, my grammar is bad "shows more older levels" what the hell am I on. I'll pay more attention next time.
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KillPhil08
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Well it broke out, pulled back, then kept going. I basically went long on the intention of reaching 9000 and at the time sterling was crapping itself. So thought it was a good bet
.
KillPhil08
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My trade of the day:
I really have to start updating this journal earlier. I think i'll do the morning rundowns in the morning combined with yesterdays trades if I don't have time in the evening.
Anyways, cable + euro have been chopping more than a butcher on a blood rampage. If you held your longs on it, I admire you [keano]. I'm going to post the trades I did on them tomorrow. It was more or less basic morning breakouts then overnight rbs scalping but for now I'll show you my perfect trade - I'm so pleased with this.
Now usually I don't trade oil, it's very volatile, you need large stoplosses and technicals don't always work. Today oil behaved perfectly and I couldn't ask for a better trade.
I decided to trade the inventories because I like news so much [requotes FTW]. When news comes out it usually either breaks out of a s/r if close to it or bounces into it then rebounds. This is what I was looking for.
First I chose a direction, I knew the double top was close so i decided that would be a perfect entry. My first trade was a scalp on the announcement on the half hour. Now here is something to remember - check you stoplosses - mine was 150 points away and I didn't realise until my 20tick gain turned into a 9 tick gain. Fortunately I stuck one in and managed to get out before the real chop happened.
Now I waited, It was either going to hit the trend line up for a long play into the double top then a chance to reverse - or - it was going to reach the double top. First time it hit I shorted with a 20 tick stoploss. I took after 16 ticks because it bounced off the roundnumber - like I said I had no idea oil was this predictable. Second time around it hit near the previous high but kept lower. I shorted again with the same SL (basically a free trade due to the previous profit) and held til my target was hit. This was one of the easiest trades I've done but at the same time it is very hard for me to see a winning position lose 30 ticks. I decided it was a free trade anyways so I would either take 40 ticks or hit my target. Persistance paid off and it hit the lower channel.
Now when it hit the lower channel I took 80% of my trade off then left 20% to run, It did break the trendline but the roundnumber of 4400 was too much and I lost out on 20% x 20 ticks.
Anyhoo, I'll remember that trade for a while.
Link to picture: Clicky
Link to picture: Clicky
Anyhoo, I gotta rush off again, I have some special person bothering me at the moment to watch mistresses...
I'll post more tomorrow.
Phil.
PS. I'm going to write down how to trade NFP this friday, I hope you guys make pips from it.
OH YES - Tomorrow is a very big day with news out regulary - BoE rate decision.
Best of luck again.
edit: the 4th and 5th purple circles should have a downtrend on it. Check previous posts if you really want to see it. lulz
I really have to start updating this journal earlier. I think i'll do the morning rundowns in the morning combined with yesterdays trades if I don't have time in the evening.
Anyways, cable + euro have been chopping more than a butcher on a blood rampage. If you held your longs on it, I admire you [keano
]. I'm going to post the trades I did on them tomorrow. It was more or less basic morning breakouts then overnight rbs scalping but for now I'll show you my perfect trade - I'm so pleased with this.Oil
Now usually I don't trade oil, it's very volatile, you need large stoplosses and technicals don't always work. Today oil behaved perfectly and I couldn't ask for a better trade.
I decided to trade the inventories because I like news so much [requotes FTW]. When news comes out it usually either breaks out of a s/r if close to it or bounces into it then rebounds. This is what I was looking for.
First I chose a direction, I knew the double top was close so i decided that would be a perfect entry. My first trade was a scalp on the announcement on the half hour. Now here is something to remember - check you stoplosses - mine was 150 points away and I didn't realise until my 20tick gain turned into a 9 tick gain. Fortunately I stuck one in and managed to get out before the real chop happened.
Now I waited, It was either going to hit the trend line up for a long play into the double top then a chance to reverse - or - it was going to reach the double top. First time it hit I shorted with a 20 tick stoploss. I took after 16 ticks because it bounced off the roundnumber - like I said I had no idea oil was this predictable. Second time around it hit near the previous high but kept lower. I shorted again with the same SL (basically a free trade due to the previous profit) and held til my target was hit. This was one of the easiest trades I've done but at the same time it is very hard for me to see a winning position lose 30 ticks. I decided it was a free trade anyways so I would either take 40 ticks or hit my target. Persistance paid off and it hit the lower channel.
Now when it hit the lower channel I took 80% of my trade off then left 20% to run, It did break the trendline but the roundnumber of 4400 was too much and I lost out on 20% x 20 ticks.
Anyhoo, I'll remember that trade for a while
.Link to picture: Clicky
EURGBP
Just wanted to show you that tails on this pair on 1h can be a good indicator. ONLY use this at the extremes! In the middle of a range it's any man's guess whether or not this is going to work.Link to picture: Clicky
Anyhoo, I gotta rush off again, I have some special person bothering me at the moment to watch mistresses...
I'll post more tomorrow.
Phil.
PS. I'm going to write down how to trade NFP this friday, I hope you guys make pips from it.
OH YES - Tomorrow is a very big day with news out regulary - BoE rate decision.
Best of luck again.
edit: the 4th and 5th purple circles should have a downtrend on it. Check previous posts if you really want to see it. lulz
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KillPhil08
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Once you go black you never go back
HaHa - You should know
Right uploaded a pic of yesterdays overnight range breakout and rbs overnight play. Yesterdays I managed to get 8 trades off in the first hour or so. Anyhoo, hopefully today will be the same. Basically, look for the trend of the overnight channel - most of the time it will break this way (eventually you'll be able to tell fakeouts from real moves). Then play rbs/sbr if you miss the breakout - you usually don't get a chance to do this in trending markets though.
Oh yes, some breakouts happen very early morning, but be aware for fakeouts - there is less volume so less chance of a good move (i think). Trading after 7 is usually better than before.
Today I'll try to upload some stuff in my spare time - longer timeframes FTW.
Good luck on BoE decision - I'll upload more later.
Oh and shout out for keano who held whole day just to hit 14200 on cable..
Right uploaded a pic of yesterdays overnight range breakout and rbs overnight play. Yesterdays I managed to get 8 trades off in the first hour or so. Anyhoo, hopefully today will be the same. Basically, look for the trend of the overnight channel - most of the time it will break this way (eventually you'll be able to tell fakeouts from real moves). Then play rbs/sbr if you miss the breakout - you usually don't get a chance to do this in trending markets though.
Oh yes, some breakouts happen very early morning, but be aware for fakeouts - there is less volume so less chance of a good move (i think). Trading after 7 is usually better than before.
Today I'll try to upload some stuff in my spare time - longer timeframes FTW.
Good luck on BoE decision - I'll upload more later.
Oh and shout out for keano who held whole day just to hit 14200 on cable.
.
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KillPhil08
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Just for reference. Scalping overnight range.
EURO held it's overnight, 142 on cable was heavily defended, I hope this reaches the overnight so I can go long again.
Don't forget 12pm = anouncements.
Economic Calendar
EURO held it's overnight, 142 on cable was heavily defended, I hope this reaches the overnight so I can go long again.
Don't forget 12pm = anouncements.
Economic Calendar
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KillPhil08
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For longer term I try to choose the spot where it's not going to get back to. Reversal spots. At these points I go all in and stick to b/e asap - if it hits this level again i'll try for a better entry.
During breakouts and mid range, I test the water first then add to it but also scale out if i think it had more to go but my target has been met.
Hope this answers your question? Not sure if it does.
Could you please explain / link PN's MM method please.
Cheers:cheers:
Phil.
During breakouts and mid range, I test the water first then add to it but also scale out if i think it had more to go but my target has been met.
Hope this answers your question? Not sure if it does.
Could you please explain / link PN's MM method please.
Cheers:cheers:
Phil.
For longer term I try to choose the spot where it's not going to get back to. Reversal spots. At these points I go all in and stick to b/e asap - if it hits this level again i'll try for a better entry.
During breakouts and mid range, I test the water first then add to it but also scale out if i think it had more to go but my target has been met.
Hope this answers your question? Not sure if it does.
Could you please explain / link PN's MM method please.
Cheers:cheers:
Phil.
It's just exiting a portion of your position so that if price reverses back to your orginal position you break-even, without having to trail your original stop. For example, exit half at the size of your stop.
The theory behind it is that price naturally retests the entry level (if you've chosen a signficant level), so the "trailing to breakeven" method results in a lot of unnecessary stopped-out trades.
However, I'm sure it's also used by vendors to boost their win rates :cheesy:
Personally, I think it's appropriate for breakout trading, because of the large number of "fakeouts", but for fading I would rather scale-in.
Thanks for the reply, and good trading.
KillPhil08
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Ah I see, I would never let a 40pip+ position reverse against me, It's against my will. I'd rather take the 40pips, let it come back and reenter off a more significant place. However, this is why I'm practicing hourly's and targets - I need more pips
.Also, not sure if you have a post, but what exactly is your *mean trades*
- There is some type of rotation around it, any chance you could elaborate/explain it for me?Good trading to you too.
Phil.
Ah I see, I would never let a 40pip+ position reverse against me, It's against my will. I'd rather take the 40pips, let it come back and reenter off a more significant place. However, this is why I'm practicing hourly's and targets - I need more pips
Also, not sure if you have a post, but what exactly is your mean trades
Good trading to you too.
Phil.
It's just a limit order resting there, just anticipating it will happen, mainly because the S&P is so violent and to wait for confirmation ruins the reward of the trade.
The rotation bit means the tendency of price to rotate up and down when it re-enters an area where it previously ranged. The mean is the high-frequency point (should really be called the "mode" since it isn't really an average), and tends to be an excellent support or resistance number.
Incredibly reliable for the S&P, I'm happy to say, but the jury's out on FX unfortunately.
KillPhil08
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I'm uploading two videos on youtube at the moment. Unluckily the size of both combined is 300mb, it'll probably be another hour for the next one to be uploaded.
Now, this is my first video, so don't laugh - infact - PM me if you want a link to them.
I'm going to be uploading the rest of the weeks trades tomorrow as I'm going ot be busy after 4pm today and i'll probably be trading from 1pm to 4pm (pre NFP and post NFP reactions).
If you have anything you want in a video which you need explained please tell me now so I can make them on saturday and you can watch them over the weekend. The two videos I've made is on overnight trading range and news trading. I'll probably record one on the NFP results but if there's anything else you want me to cover - trendlines, S/R, SbR RbS, longer term trends etc etc, don't hestitate to leave a message or PM me.
Have fun trading, I can't wait til 1:30.
Now, this is my first video, so don't laugh - infact - PM me if you want a link to them.
I'm going to be uploading the rest of the weeks trades tomorrow as I'm going ot be busy after 4pm today and i'll probably be trading from 1pm to 4pm (pre NFP and post NFP reactions).
If you have anything you want in a video which you need explained please tell me now so I can make them on saturday and you can watch them over the weekend. The two videos I've made is on overnight trading range and news trading. I'll probably record one on the NFP results but if there's anything else you want me to cover - trendlines, S/R, SbR RbS, longer term trends etc etc, don't hestitate to leave a message or PM me.
Have fun trading, I can't wait til 1:30.
webinvester
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Very interested and I promise, no laughing!:cheesy: I'll PM you for the link.
I'm still very much in the 'rookie' stages at the moment - you know, the stage where you watch the markets, apply the methods and/or strategies that you have learnt, and enter on what looks to meet all the criteria. But the market 'knows' you are a rookie so as soon as you enter it does the opposite to what it is supposed to do!
I don't think Saturday will be long enough for you to do the extra videos I'd like, so I'll pass on your kind offer for now and just watch the ones you've already done/plan to do.
Happy trading
KillPhil08
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Old Videos Only Released to some on Friday
Hey guys, I'm uploading the NFP youtube video on how I traded it. If you can't be bothered to watch and prefer to view the pictures no problem, They'll be up within the next 1-2 hours.
In the mean time, to keep you entertained (by laughing at me) you can view these two videos I made on friday. They were mainly just to explain to two people:
1, what the overnight range is.
2, how i news trade.
If you want any other videos on how I trade or if you have any suggestions people don't hesistate.
I will add a summary below the videos of what I covered. Anyhoo, enjoy:
YouTube - tradingrange
Summary = vid 1
1, Overnight range is 00:00 to 06:00, If you get up earlier keep adding them in unless there is a real breakout.
2, The direction of the range is usually the direction of the breakout
3, On cable watch out for small pullbacks before the real move, for euro watch out for fakeouts
4, Watch out for sbr / rbs on the overnight range
5, In the hours of 05:00 to 06:30 there will be a less likely chance than after 07:00 (imo).
YouTube - newstrading
Summary = vid 2
1, Mark Highs/Lows/Trends and Major levels.
2, Watch for the reversal after the spike into these
3, Watch out for bounces on round numbers (play the opposite direction into it).
4, Trade the end of the spikes, not the middle - only trade middle range on breakouts.
5, Tops and bottoms = small stops, Middle = large stops, News = high volatility, High volatility = large stops = ****ced.
This is my channel, subscribe if you want but I'll be putting any trading videos on here from now on:
YouTube - killphil04's Channel
Hey guys, I'm uploading the NFP youtube video on how I traded it. If you can't be bothered to watch and prefer to view the pictures no problem, They'll be up within the next 1-2 hours.
In the mean time, to keep you entertained (by laughing at me) you can view these two videos I made on friday. They were mainly just to explain to two people:
1, what the overnight range is.
2, how i news trade.
If you want any other videos on how I trade or if you have any suggestions people don't hesistate.
I will add a summary below the videos of what I covered. Anyhoo, enjoy:
YouTube - tradingrange
Summary = vid 1
1, Overnight range is 00:00 to 06:00, If you get up earlier keep adding them in unless there is a real breakout.
2, The direction of the range is usually the direction of the breakout
3, On cable watch out for small pullbacks before the real move, for euro watch out for fakeouts
4, Watch out for sbr / rbs on the overnight range
5, In the hours of 05:00 to 06:30 there will be a less likely chance than after 07:00 (imo).
YouTube - newstrading
Summary = vid 2
1, Mark Highs/Lows/Trends and Major levels.
2, Watch for the reversal after the spike into these
3, Watch out for bounces on round numbers (play the opposite direction into it).
4, Trade the end of the spikes, not the middle - only trade middle range on breakouts.
5, Tops and bottoms = small stops, Middle = large stops, News = high volatility, High volatility = large stops = ****ced.
This is my channel, subscribe if you want but I'll be putting any trading videos on here from now on:
YouTube - killphil04's Channel
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KillPhil08
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Eurusd
Right unfortunately when I was loading up the NFP video, It completed but I pressed back. I went to check to see if it was on my channel and it wasn't. This might be because it's 12minutes long and the max limit is 10minutes. So I'm trying again, hopefully it will be up by 6-6:30.
Right Euro analysis time.
I must say the last week i've neglected euro quite a bit although now it's at a critical point and making some lovely new swings which led me back to this. It is also being very well behaved when it comes to breakouts and overnight ranges.
All picture apart from the daily is fairly HIGH DEF to give you a wider analysis and to see where I was taking trades. If you want these blank or would like any of the future ones blank so you can make your own analysis, leave a message and i'll post it up.
EURUSD
I've done most of my analysis on the pictures, tomorrow I'll write out what I'm looking for during the day. Although, I would look out on the hourly chart - not sure yet, but euro might be making a swing up. The weekend gap will decided I hope.
On the daily, it hasn't reached the 2005-2009 trendline yet NOR has it hit octobers low, this week or next will be the deciding factor imo.
Right unfortunately when I was loading up the NFP video, It completed but I pressed back. I went to check to see if it was on my channel and it wasn't. This might be because it's 12minutes long and the max limit is 10minutes. So I'm trying again, hopefully it will be up by 6-6:30.
Right Euro analysis time.
I must say the last week i've neglected euro quite a bit although now it's at a critical point and making some lovely new swings which led me back to this. It is also being very well behaved when it comes to breakouts and overnight ranges.
All picture apart from the daily is fairly HIGH DEF to give you a wider analysis and to see where I was taking trades. If you want these blank or would like any of the future ones blank so you can make your own analysis, leave a message and i'll post it up.
EURUSD
I've done most of my analysis on the pictures, tomorrow I'll write out what I'm looking for during the day. Although, I would look out on the hourly chart - not sure yet, but euro might be making a swing up. The weekend gap will decided I hope.
On the daily, it hasn't reached the 2005-2009 trendline yet NOR has it hit octobers low, this week or next will be the deciding factor imo.
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KillPhil08
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Ok. Well **** it, youtube is a piece of **** which wasted 5 hours of my life.
I'm putting the video on AVI format on my gotoedinburgh server. Will have the link tomorrow morning. THOROUGHLy pissed off.
I'm putting the video on AVI format on my gotoedinburgh server. Will have the link tomorrow morning. THOROUGHLy pissed off.
KillPhil08
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sup guys, some quick pics.
The video was going to analyse nfp, why things bounced broke out etc etc. Im going to watch a film right now on the internet so i'll be uploading my video on friday afterwards.
Watch this space for the link to the site.
Infact - I've just decided that for any video longer than 10minutes I'll use google videos; otherwise it'll go on youtube. I think this will solve the problem.
Hope you've all had a good weekend!
Lets make some money.
Phil.
ps, ignore the paint error on the last picture please. All was done in a rush! and just found out google videos will be discontinued so will use piscasa instead after they shutdown!
The video was going to analyse nfp, why things bounced broke out etc etc. Im going to watch a film right now on the internet so i'll be uploading my video on friday afterwards.
Watch this space for the link to the site.
Infact - I've just decided that for any video longer than 10minutes I'll use google videos; otherwise it'll go on youtube. I think this will solve the problem.
Hope you've all had a good weekend!
Lets make some money.
Phil.
ps, ignore the paint error on the last picture please. All was done in a rush! and just found out google videos will be discontinued so will use piscasa instead after they shutdown!
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KillPhil08
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http://video.google.com/googleplayer.swf?docid=1908268790438862586&hl=en&fs=true
No idea how to embed this. I gave it a go and failed - I think I forgot to add HTML code ON in this thread! Damn. If an admin can do this please do so! (i noticed crapbuddist can do it).
Anyways, click on the link - bottom right of the video "double size" or "original size" so you can actually see the trendlines. The actual video quality takes up a 19" pc but when I upload it to youpoo or googlevids it turns out rubbish!
quicky pic of my charts atm, nothing special. EURGBP failed. CAD breaking up. CABLE downtrend still in force. EUR broke past 12600. FTSE off its lows waiting for direction.
finally got 4 screens to so might cover some more markets.
No idea how to embed this. I gave it a go and failed - I think I forgot to add HTML code ON in this thread! Damn. If an admin can do this please do so! (i noticed crapbuddist can do it).
Anyways, click on the link - bottom right of the video "double size" or "original size" so you can actually see the trendlines. The actual video quality takes up a 19" pc but when I upload it to youpoo or googlevids it turns out rubbish!
quicky pic of my charts atm, nothing special. EURGBP failed. CAD breaking up. CABLE downtrend still in force. EUR broke past 12600. FTSE off its lows waiting for direction.
finally got 4 screens to so might cover some more markets.
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