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Basket Knights - A Basket Trading Round Table

  • #541
  • Oct 9, 2019 4:28pm Oct 9, 2019 4:28pm
Quoting TyLamai
{quote} Either I or others do. By the way, the current Sell basket isn't our first in this thread. Why not read the thread to see what happened during the other basket flips? Regards and Stay fluid, Ty
Thanks will do. Appreciate all the info and work you put into this.
  • #542
  • Oct 9, 2019 4:33pm Oct 9, 2019 4:33pm
Hello TyLamai,
Here is my chart of C5 H4. Would really appreciate ifi can be added to the skype Group.

And thanks for the resurrection of basket trading and all your posts.
Attached Image (click to enlarge)
Click to Enlarge Name: #TyC5#05H4.png Size: 50 KB
Let your plan trade for you, not your emotion!!!
  • #543
  • Oct 9, 2019 11:50pm Oct 9, 2019 11:50pm
Quoting xremmy
Hello TyLamai, Here is my chart of C5 H4. Would really appreciate ifi can be added to the skype Group. And thanks for the resurrection of basket trading and all your posts. {image}
Hello xremmy,

You are welcome to the round table and you gat mail!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #544
  • Oct 10, 2019 12:02am Oct 10, 2019 12:02am
TyLamai
Waht is your forecast for NZDJPY
  • #545
  • Oct 10, 2019 12:38am Oct 10, 2019 12:38am
Quoting Sankar1978
TyLamai Waht is your forecast for NZDJPY
Please read Post#1.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #546
  • Oct 10, 2019 6:13am Oct 10, 2019 6:13am
Quoting TyLamai
{quote} Hi aaven, My DCs are not defined based on retracement percentages. I simply wait until I see a CONTRARY Tidane Trend signal on a lower timeframe. Example: A Sell basket on the H4. A valid DC for me would be a Buy signal on the m15/H1 depending on what I perceive is ongoing in the market. Once I get a Buy signal, I BEGIN to look for reasons (on the m15/H1) to re-enter a Sell trade in the direction of the prevailing Sell basket (on the H4). I hope this is not confusing. What informs my entering a Sell position? 1. Fundamentals: Like today...
Nicely Put, easy to understand
  • #547
  • Oct 10, 2019 6:35am Oct 10, 2019 6:35am
Quoting candyman752
{quote} Nicely Put, easy to understand
Thank you candyman752!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #548
  • Edited 6:51am Oct 10, 2019 6:36am | Edited 6:51am
Fundies: Truths and Rumours.

"FX Goes on a Rollercoaster
Major pairs went on a wild rollercoaster ride in Asia session trade today driven by a series of contradictory headlines regarding US-China trade talks.

Risk-off flows dominated the start trade when China Morning Post reported that the Chinese ministerial delegation would only stay for one rather than two days of talks. That headline was denied by the White House only to be reaffirmed by Fox news. But the bad news was quickly offset by reports that the US and China would agree on a currency pact suggesting that trade talks are actually making progress.

The situation remains fluid, but for now, the markets have given the benefit of doubt to risk on flows taking yen crosses higher especially against the commdollars. AUDJPY remains the primary barometer of US-China trade sentiment and nothing reflected the topsy turvy nature of today's trade than that pair.

Ahead of NY open its was trading at session highs of 72.70 indicating that the market was primed for some positive news from US-China talks. There is certainly a great incentive for Trump to make any kind of a deal with China that would buy him positive press for the next few weeks. With impeachment inquiry suggesting that there now may have been a second illegal act by the President of trying to obstruct justice in an ongoing DOJ investigation and the with polls now showing that 51% of Americans favor the impeachment process the political risks for the President have increased.

Therefore both the Chinese and the financial markets may be sensing that the vulnerable President is open a deal on almost any terms and are bidding risk assets ahead of the talks today." - Boris Schlossberg, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #549
  • Oct 10, 2019 7:07am Oct 10, 2019 7:07am
Quoting TyLamai
Fundies: Truths and Rumours. "FX Goes on a Rollercoaster Major pairs went on a wild rollercoaster ride in Asia session trade today driven by a series of contradictory headlines regarding US-China trade talks. Risk-off flows dominated the start trade when China Morning Post reported that the Chinese ministerial delegation would only stay for one rather than two days of talks. That headline was denied by the White House only to be reaffirmed by Fox news. But the bad news was quickly offset by reports that the US and China would agree on a currency...
In English language:
If you look at the C12 H4 offline chart, you might notice that the Tidane Trend indicator is already beginning to FLASH a Buy signal (although it's not yet set because it's a H4 candle).

What the above article/opinion is suggesting is that this might be the case due to the fact that the market participants are HOPING for positive news. Not that there is positive news but that we are HOPING for it and trading accordingly...?

So, trade cautiously I guess.

I would advice you WAIT for a confirmed H4 Buy signal (and if possible, a Buy DC) BEFORE opening/taking any potential Buy basket. Experienced Basket Knights already know how to play this.

I will say it one more time: I really CAN'T see what is positive about the current happenings..But hey, I'm just one guy!

My game plan (if I see a Buy basket signal on the H4) will be to Close all my remaining Sell basket positions (a few of which closed in profit over night when there was a spike down) and open a Buy basket with the mind to hedge that with Sell trades as it progresses.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #550
  • Oct 10, 2019 8:15am Oct 10, 2019 8:15am
Quoting TyLamai
{quote} In English language: If you look at the C12 H4 offline chart, you might notice that the Tidane Trend indicator is already beginning to FLASH a Buy signal (although it's not yet set because it's a H4 candle). What the above article/opinion is suggesting is that this might be the case due to the fact that the market participants are HOPING for positive news. Not that there is positive news but that we are HOPING for it and trading accordingly...? So, trade cautiously I guess. I would advice you WAIT for a confirmed H4 Buy signal (and if possible,...
And the Sell basket continues...
Seems we have Four MORE hours to decide. A LOT can happen in four hours...

C12 H4
Attached Image (click to enlarge)
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C5 H4
Attached Image (click to enlarge)
Click to Enlarge Name: 00w8d1b_#TyC5#05H4.png Size: 45 KB


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #551
  • Oct 10, 2019 11:05am Oct 10, 2019 11:05am
New trend alert

I did a quick job and I am out at +850 pips. I will now wait for a retrace before I join the long trend again.

Attached Image (click to enlarge)
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  • #552
  • Oct 10, 2019 4:15pm Oct 10, 2019 4:15pm
Quoting TyLamai
{quote} C12 H4 Sell basket is still valid...+2,044 pips banked so far with -442 pips floating. {image} Off to bed. Decided to reduce my risk by banking a few trades in profit in case of overnight drama. {image} *A few of these guys are Pending Orders in case I'm not here and it goes the way I desire. Regards and Stay fluid, Ty
C12 H4 is now signaling a Buy basket.

My previous Sell basket Profit Tally = +2,202 pips total banked with -95 pips floating (closed at NEW H4 Buy basket signal) = +2,107 pips.
Attached Image


I decided to take my own advice (visual attached):
Quote
I would advice you WAIT for a confirmed H4 Buy signal (and if possible, a Buy DC) BEFORE opening/taking any potential Buy basket.

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
Click to Enlarge Name: 00w8d2b_#TyC5#12H4.png Size: 51 KB
My job: I speculate and manage risk.
  • #553
  • Oct 10, 2019 4:20pm Oct 10, 2019 4:20pm
Quoting bishopdotun
New trend alert I did a quick job and I am out at +850 pips. I will now wait for a retrace before I join the long trend again. {image}
Hola BD,

Congrats on the pip-haul!

Quick question: Did you close your H4 Sells or are you leaving those running until you get a retrace?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #554
  • Oct 10, 2019 4:29pm Oct 10, 2019 4:29pm
Fundies: Truths and Rumours.

"Dollar, Risk Soars as Trump Trade Tease

It's been a rollercoaster ride in FX this week with currencies reacting to every positive and negative headline. Overnight, investors were worried that the Chinese delegation would leave after only one day of talks and even in early morning every one was unclear as to how the primary talks would go. The uncertainty is so high that market watchers resorted to dissecting the body language of every one arriving. By the end of the NY session, the US dollar came roaring back after President Trump tweeted that he will meet "with the Vice Premier tomorrow at the White House." However in the same tweet, he left the market guessing by saying "They want to make a deal, but do I?"

With the outcome of the trade talks still unknown, there could be more fireworks in the next 24 hours. If President Trump agrees to a partial deal with China, USDJPY will make a run for its 1-month highs near 108.50. Other major currencies should benefit from risk on flows as well with EUR/USD testing 1.1050 and AUD/USD heading towards .6850. If negotiations fail and China leaves with no agreement, we'll see today's gains reverse quickly with USD/JPY and AUD/USD feeling the brunt of the pain. While it may not be wise to bet on a deal, President Trump's willingness to meet with Vice Premier Liu He is a sign that a positive outcome is likely. It would also effectively distract news agencies from the impeachment inquiry.

A trade deal would also reduce the chance of further easing from the Federal Reserve this month. Price pressures are subdued according to the latest consumer price index that showed inflationary pressures stagnating in September. CPI growth was unchanged month over month although ex food and energy prices ticked up slightly. Softer economic reports have little effect on the dollar this week as the prospect of global growth hinges on the trade talks.

Meanwhile, sterling rose more than 2% against the US dollar after Prime Minister Johnson and Ireland's Varadkar said they "see pathway" to Brexit deal. No details were provided but Sky News reported that Britain is proposing a limited free trade agreement. The talks now move to Brussels were Brexit secretary Barclay will meet with the EU's chief Brexit negotiator Barnier. We're skeptical that the EU will find any agreement palatable but investors are latching onto any piece of good news as the price action reflects a great degree of optimism. Of course, sentiment could shift quickly if Germany or the EU casts doubt on a deal so its unadvisable to rush into any major positions before a firm outcome is known.

EUR/USD traded above 1.10 for the first time in 2 weeks. Although Germany's current account and trade balance numbers missed expectations, the European Central Bank said a number of members opposed Quantitative Easing and felt that it should be the last resort. However with the region's largest economy headed for recession we are skeptical of the durability of EUR/USD's rally. Investors and the ECB were hoping that the German government would support the economy with fiscal stimulus but based on today's comments from German finance minister Scholz who said the country already has an expansive policy stimulus may not come easily.

All three of the commodity currencies traded higher today on trade talk optimism but the Canadian dollar will be the one to watch tomorrow. Labor market numbers are scheduled for release and economists predict a significant slowdown in job growth. According to IVEY PMI, Canadian companies shed jobs at the fastest pace in since 2016. USD/CAD should rally on tomorrow's report but the forecasts are low, so the Canadian dollar's reaction will depend on the extent of the surprise." - Kathy Lien, BK Asset Management


Quote
Not that there is positive news but that we are HOPING for it and trading accordingly...?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #555
  • Oct 11, 2019 2:20am Oct 11, 2019 2:20am
Quoting TyLamai
{quote} Hola BD, Congrats on the pip-haul! Quick question: Did you close your H4 Sells or are you leaving those running until you get a retrace? Regards and Stay fluid, Ty
I close all open trades when I get a new signal. Delay is dangerous.
  • #556
  • Oct 11, 2019 5:11am Oct 11, 2019 5:11am
I took another bite.....

I don't trust the current moves in the market. Looks like pump and dump (just waiting to happen).

I closed my trades and back on the sidelines again.

Attached Image (click to enlarge)
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  • #557
  • Oct 11, 2019 9:01am Oct 11, 2019 9:01am
Quoting bishopdotun
I took another bite..... I don't trust the current moves in the market. Looks like pump and dump (just waiting to happen). I closed my trades and back on the sidelines again. {image}

That's why I'm happily on the sidelines.

A lot of pips on the table though I must say.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #558
  • Oct 11, 2019 9:03am Oct 11, 2019 9:03am
Quoting TyLamai
{quote} That's why I'm happily on the sidelines. A lot of pips on the table though I must say. Regards and Stay fluid, Ty
CAD move is real.
  • #559
  • Oct 11, 2019 9:06am Oct 11, 2019 9:06am
Quoting TyLamai
{quote} That's why I'm happily on the sidelines. A lot of pips on the table though I must say. Regards and Stay fluid, Ty
Ty,

Can you please help me understand the reason for you to be on the sidelines? Is my understanding right: The tidane trend is the overriding factor, and fundamentals are used to supplement the reasons/subjectivity, in this case, was your decision based on fundamentals?

Thanks
  • #560
  • Oct 11, 2019 9:46am Oct 11, 2019 9:46am
Quoting volumeprice
{quote} CAD move is real.
I don't do CAD.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
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