It's All About The Pips...

[danarm]

Hi all

Just got home and GBPJPY and CABLE worked out perfectly.

If u r patient the setups will come to you. Look how the 15min trigger and stochastic came back up on GBPJPY and CABLE for the retracment and then turned back down again...

Its a perfect setup...Theres no buying off the 60min 50ma with the 15min 20ma and 60min 20ma just ahead... the only option available is to sell as u r below the 15min and 60min 20ma....U always look to sell with the trend unless the market is overbought...

I have drawn two arrows to show you where to enter...Remember the rule always sell after green..

GBPJPY - Banked part in GBPJPY for 100pips
CABLE - Banked part in CABLE for 100 pips

Well done to those who took it.

Speak later

Dan

 

[danarm]

Hi all

Well done to u all who took CABLE and/or GBPJPY...

Great to see so many make 100-150 pips. Thats made me chuffed to bits.

Remember patience is everything... I hold back, wait and then when i am happy to trade i enter a position.

Targets hit...Thats 175 in GBPJPY and CABLE 175...Lovely little pips in the bank and now i can relax.

Must run and take the dog to his 5 star luxury kennel. Unbelievable how he has such an easy life...Eats, sleeps, swims and sunbathes..Dogs hey!!

See u tom.

D

 

[elitejets]

Oil update

It worked! The crossing of the ma's got me +304 pips, even with entering without waiting for the 1-2-3
I added a WTI short which collected +174 pips too.

Also managed +134 pips today on GBPJPY (my only currency trade today)

What can I say. this method and strategy really works (when I am disciplined and follow it).
Nicola
Probably will not trade oil tomorrow. Should be a downtrend but it may rally temporarily if there is an inauguration rally in the indices. Will see.

PS Not perfect - went -20 on a poorly judged Gold long

 

[danarm]

Nicola

That says it all..Well done.

D

 

[PaulKing]

about time too

Will be an interesting start to the week with Obama taking the helm i have put some orders in on the dow to the upside a break of 8350 and I'll be in.
Lets see what the man can do !! Personally I think short term rally back to the 4 hourly MA's then another large move to the down side and possibly breaking the November lows.
Have a great weekend

Hey James

Well done. Its about time some-one had the nerve to bring this Gorilla down a peg or two (even on his own formum blog thread!) - only joking Mr.A.

Equaly valuable to readers would be your insights on the indicies. Dan has recently started posting Zaks morning reviews (with no acknowledgement to the original author) along with his own, it would be great if you could add yours too?

 

[elitejets]

Barclays Capital say Oil $17-25 per barrel

Watch this video, interesting, includes crude chart analysis also DOW & some currency analysis:

Charts Predict: Oil Heading towards $17 - Economy * Europe * News * Story - CNBC.com

Pips galore!
Nicola

 

[danarm]

Good morning all. I hope you are well and that you had a good day yesterday.

Looks like we have the potential of a quiet morning on my side.
The Yen pairs drifted off nicely yesterday but I won’t be looking to jump in to GBPJPY or EURJPY at these levels, not after a 600 and 300 pip drop from specified entries points of yesterday morning.

USDJPY is the only one of these Yens that I am interested in for this session. It hasn’t done a great deal the last couple of days, but although we have a conflick of opinion with 4hr 20 above the 4hr 50 and 60m 20 below 60m 50 it will be interesting to see where this goes.
Need’s to break 90.00 to confirm a move south and certainly wouldn’t be looking for a long position on this.
If it does break the 90.00 level we can look at a short with a stop at 90.50 (above the 60m 20ema), targeting 89.40 for most part of the position then holding the remaining balance to 89.00 then 88.50
Need to wait for 21CCI and trigger on 15m chart.

and the rest………..

GBPJPY-Make fresh lows on 4hr chart. In real danger of 100.00 in the not too distant future, making Japanese beer about 30 pounds a pint!!
No immediate entry available. look for retrace on 4hr chart first.

EURJPY-Not yet taken out the lows of last week so an unconfirmed major continuation. Can only hold tight with this one and wait for some 4hr green.

USDCHF-Looking pretty bid since breaking-out yesterday. Has capability of pushing up to 1.1500 but could use some red on the 60m chart to around 1.1320 before looking for a possible long position.

GBPCHF-Falling nicely with GBPJPY yesterday, but again at a dangerous level just to warrant jumping in. Best to steer clear of this until we get some green on 60m chart.

EURCHF-Failed to break the 1.5020 level yesterday. Looking good on a 4hr chart to continue the move down. Are we going to see this re-test that 1.43 level? It loos likely and definately on thats technical set-up suggest it’s not hugely oversold.
a test of resistance at 1.4820 (60m 20ema) now on the 60m chart, along with the trigger confirming as it crosses back down through the 0.0 could be the move to look out for.

Summary……….

Look for USDJPY to remain BELOW the 60m 20ema at 90.45. If it does then turns back down there may be an opportunity short to the 90.00 region, where we would like to see a break where we can add to the position.
Wait for EURCHF to move up to the 60m 20ema at 1.4820, then see what it does on 15m chart. Should it turn back down on the 15m chart with trigger conriming there would be a nice opportunity for a slightly longer-term short play with a stop above the pivot at 1.4860
and targeting 1.4750, 1.4700 & 1.4650.

Have a good morning.

Zak

 

[danarm]

Good morning all

Well GBP has made its move and on its way to 1.2500…

—————————————-

GOLD – Looks weak. Look for 60min trigger to line up for downward move.Be patient with AUD, EUR & GBP as retracements are on…

EURGBP – Broken the daily 20ma which is very positive. Look for support off this level. The 4hr 20ma should hold below the DP at 0.9050. Important to watch CABLE today as yes it should continue its fall but the 60min chart suggests a retracement could be on which could limit EURGBP this morning. Worth waiting for 60min trigger on this one.

GOLD – Hasn’t managed to hold the MP at $835.00. Needs a small retracement but should fall again from here. 60min 20ma will protect the upside at $834.00. Looks good for downside on 15min chart.

AUDUSD – With GOLD potentially moving lower AUD will follow. Large support at WS1 at 6550. Look for pullback on 60min chart b4 selling with trend. A break of WS1 would signal a more aggressive move lower.

EURUSD – Yes GBP is weak but what hope has EUR got…Its bad in Europe and I fancy the EUR a lot lower from here. The 60min chart is oversold after yesterday. Too many red candles so going to be patient and wait for retracement b4 selling with trend again.

CABLE – Well we predicted this would happen and it has made new lows. 1.2500 is on the cards but today leaves us with the challenge of a potential retracement. Look how many red candles are on our 60min chart. The risk has increased for us and it is hard to sell here. Look for pullback b4 trading with the downward trend.

OIL – 60min chart shows a clear triangle forming. Look for a break lower and a break below the MP at $43.40 for a move towards the $38.00 level.

Have a great morning and well done for yesterday.

Remember to be patient and wait for trades to come to you.

Dan

 

[danarm]

Good morning all,

What an aweful day yeesterday for UK financial stocks. We saw record losses being posted by RBS of -£20 b and shares in the Royal back traded as low as -70% but ended the day at -66% down at 11.52 pps. Gordon Brown has critisized the bank for taking extreme risks buying up huge chunks subprime debt and also their purchase of ABM Ambro for £20 b three months before the start of the credit crunch.

Mr Darling has introduced his new structure to help increase lending between banks key poionts below.

• Banks will be able to take up government insurance against their expected bad debts

• The Bank of England will be able to buy up to £50bn worth of assets in companies in all sectors of the economy

• Northern Rock has been given extra time to repay its loans from the government

• The government is increasing its stake in RBS to nearly 70% from 58%. RBS also said it was set to report a huge loss for 2008, with asset write-downs of up to £20bn.

President Obama will be taking centre stage today with the historic Inauguration. He will immediately inherit an economic mess so grave that it recalls the Great Depression, wars in Iraq and Afghanistan, and the burden of being first. Obama has signaled he will make audacious moves on all fronts.

Problems facing the US

The rate of job loss is accelerating, with 2.6 million jobs lost in 2008 alone, and the unemployment rate has soared to more than 7%.

The housing market is still in freefall after two years of declines, and the number of foreclosures, or repossessions, is at a record high.

Federal government’s budget deficit to over $1 trillion, the highest in history and more than double what it was during the last financial year.

Credit Crunch.

Lets see how his $800 b stimulus package will work.

James

 

[danarm]

Good morning all

Made a few cheeky pips in EURUSD and GOLD this morning. Many taking 20-40 on GOLD and some holding.

I am in twice on GOLD from $830.00 and $825.00 with a stop at $835.00. 70 pip risk and lets see what happens.

Need to watch EURUSD for any bounce but technically forgetting about correlation i like the setup targeting $821.00 and $815.00. I just hope that EURUSD doesnt mess up my plan.


Speak later.

D

 

[danarm]

I am looking very closely at OIL to the downside and EURGBP on upside.

 

[TheMonkey]

Key Levels of Support and Resistance
DOW FUTURES: 8000/8080 to 8370/8400
FTSE FUTURES: 4000 to 4220
DAX FUTURES: 4300 to 4440
Breaks of these levels could be very significant

 

[danarm]

Well well well...I take a hit on GOLD.

U cant win them all.

Lost 60 piparoonies so with +20 on eurusd i am down 40 pips for the day.

Not happy...Dont like being down pips but going to be patient and wait for next entry.

I read that poorly and was too stubborn not to cut at breakeven.

Speak later

D

 

[danarm]

Will look to re-enter if the short term charts give me the opportunity.

 

[danarm]

Ok hands up...The rub of the green is not going my way today..

I wasnt expecting a 1000 pip move in CABLE in 24 hours.

I missed the entry on GOLD long.

I missed EURGBP long.

What else can i miss today...Luckily i drive myself or otherwise i would miss the bus.

D

 

[Kappa]

Ouch Dan!

Not so well for me, I had +36 pips (which is good for 1st day using your strategies, still demo'ing, will put real money at the start of Feb)

HOWEVER, I thought I'd grab gold by the balls and go for it also, was going well for a bit and thought I'd do a longer trade than usual, got in at $826, set the stop at $830, and take profit at $822, and left for work. (price now is ~$847)I'm still learning so I'm going to keep it to trades while i'm there I think.

I'll make it up tomorrow

 

[grimweasel]

Gold is hawked by the true trading pros and I've lost more trying to read that bad-boy than I have ever made. Just when you think it's gonna head one way, then you are trapped and taken to the pip penitentiary!
What caused today's BO? Normally if inflation figures come out below expectation one would think gold would sell off, being an inflationary hedge??

 

[danarm]

GOLD is now on the back bench... I can get these currencies playing ball so i will stick with that for now.

See u tom.

D

 

[TheMonkey]

Well what a bad day and another great example of how waiting for a politician or head of a central bank to speak can be a complete waste of time. I was to concerned by the short term and Obamas speech that I removed my short orders from the levels suggested this morning in the room on the Dax Dow and FTSE.
There we go silly monkey smack my head against a brick wall and trade the longer term... well back in tomorrow lets see where we are then.....

 

[PaulKing]

Great levels Monkey - well missed

Well what a bad day and another great example of how waiting for a politician or head of a central bank to speak can be a complete waste of time. I was to concerned by the short term and Obamas speech that I removed my short orders from the levels suggested this morning in the room on the Dax Dow and FTSE.
There we go silly monkey smack my head against a brick wall and trade the longer term... well back in tomorrow lets see where we are then.....

Hi Monkey (& Dan)

I am just catching up on the days trading (what on earth has happened to cable, where are those green candles Dan?) by reading through the am analysis & levels from Pimp & Dan and comparing them to the charts (which have obviously moved on 15 hours or so since the anaysis was done). It was really interesting to see your levels posted as well, Monkey, particularly with the subsequent moves. I was really impressed, imagine how I chuckled when I read this post!

Great stuff, hope you don't hurt your head too much, but always a good idea to walk the talk (as you were spot on, once again!)

have a great one in the morning, surely there must be a pull back on cable (Dan you always wanted 1.42 / 1.43 didn't you?)

Paul