Closed CJ quick $470 less then 30min
In trading, you have to be defensive and aggressive at the same time
- #33,782
- Jan 10, 2020 10:33am Jan 10, 2020 10:33am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #33,783
- Edited 11:52am Jan 10, 2020 10:44am | Edited 11:52am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #33,785
- Jan 10, 2020 12:25pm Jan 10, 2020 12:25pm
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts
In the end I decided to close my AC long. 
At first my intention was to keep this trade open till next week together with some others, then considering CAD is involved hence oil I prefer to avoid the risk.
At first my intention was to keep this trade open till next week together with some others, then considering CAD is involved hence oil I prefer to avoid the risk.
Porta itineris dicitur longissima esse
- #33,788
- Jan 10, 2020 5:19pm Jan 10, 2020 5:19pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #33,789
- Jan 10, 2020 5:38pm Jan 10, 2020 5:38pm
- Joined Jun 2016 | Status: PA Pivot Swing Trader | 3,892 Posts
Hi guys after careful thinking this is what I like to do going forward.I had today over 173 viewers 95% none members lurking etc and one even started his thread who got banned from here basically copying everything from here my work.That's going to stop. No more live calls. I am going to post only Fridays after the trading week is over posting my results and feedback on others trades.If there is something I really like you to see I will PM you.(there is no list so dont PM ask I know who core group members are and members who put honest work) People...
David, I do not blame you for one second. I will make the following my last summary for November 2019 of your hard work, not to feed the vultures any more of your live daily work.
Well, Happy and Healthy New Years and Green Pips to all !
- John
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
- #33,790
- Jan 10, 2020 6:11pm Jan 10, 2020 6:11pm
- Joined Jul 2013 | Status: Trader | 5,459 Posts
Ronnie Renko
- #33,791
- Edited 6:55pm Jan 10, 2020 6:45pm | Edited 6:55pm
- | Joined Dec 2019 | Status: Trader | 103 Posts
Hi guys after careful thinking this is what I like to do going forward.I had today over 173 viewers 95% none members lurking etc and one even started his thread who got banned from here basically copying everything from here my work.That's going to stop. No more live calls. I am going to post only Fridays after the trading week is over posting my results and feedback on others trades.If there is something I really like you to see I will PM you.(there is no list so dont PM ask I know who core group members are and members who put honest work) People...
But, allow me to disagree; you know why? Because you're punishing genuine hard-working people for what dishonest lurkers have done. Obviously you've already taught a lot and you don't have any obligation to continue that; you even have the power to shut the thread altogether; but we request not to, if we means anything to you.Then again, you're right on the other hand. What's the point of all this when, out of 1000s members, only few truly contribute and the rest just steal and copy? Personally I was going to post my weekly overview of the calendar when I saw your sad post; but how many overviews we have each week on this thread?
Bottom line
Actually we cannot do anything about this, cause this is something FF guys have to do something about; I mean we need something like private group in which only certain allowed people can read and post. But since I know this is not going to happen (at least not anytime soon) I suggest we create a private blog and then, to distinguish genuine people who truly want to participate, you charge them a small monthly fee.
Obviously this post might ruffle a lot of feathers and even you might disagree. But anyone's welcome to offer their own suggestions. Whatever it is, I feel so sad to be punished for someone else's sin
- #33,793
- Jan 10, 2020 8:31pm Jan 10, 2020 8:31pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #33,794
- Edited Jan 11, 2020 5:17am Jan 10, 2020 11:08pm | Edited Jan 11, 2020 5:17am
- | Joined Dec 2019 | Status: Trader | 103 Posts
Please note pivot points in the following images are related to next week's levels.
Weekly Calendar Overview
Monday
GBP:Monthly GDP
WHY IMPORTANT:
The UK monthly GDP figure (Monday) will show whether the BoE will ease or not in the near term, which is gaining attention as we're getting close to 31 Jan (Brexit day). The latest Service PMI boosted investors' optimism that economic growth will rebound in the first half, dampening expectations for monetary easing; however MUFG Bank says we need more evidence to back this optimism.
Also, according to BoE, there could be a “relatively prompt response” from the bank if it looked like the economy faces a period of prolonged weakness.
Technical Side:
One interesting thing I've noticed is GBPUSD is currently almost on WPP which happened to be right in the middle of two key support/resistance lines in daily time frame. These two lines are interestingly the same as our well-known R100 and S100. What does this mean? IMHO this means anything that shoots GBPUSD towards either line is considered over-reacting because at this stage GBP is still more driven by Brexit news than data. Let me know what you think:
Wednesday
Global: US-China phase 1 deal signed
WHY IMPORTANT:
The event itself may not appear that important cause any possible reaction to it is already done and dusted. However all eyes are on the potential signals on phase two talks. When you think about risk-on assets like AUD and the way it reacted to phase one news last time, Wednesday's talks can be the beginning of a new round of opportunities
Thursday
EUR:ECB minutes
WHY IMPORTANT:
The inflation details are important for the ECB’s assessment and the combination of a pickup in core inflation and reduced downside risks may lead the ECB to revisit the growth risk assessment. The focus in the ECB minutes on Thursday will be on the framework of the strategic review.
Technical Side:
We shouldn't forget that EUR's last bunch of PMIs caused optimism and were interpreted by many as sign of stability. In addition to this, according to Societe Generale FX, EUR is moving towards a GDP of 0.9% versus 0.7% for US. When we compare these figures with US 2.3% and EUR 1.2% in 2019 it can be very encouraging for EURUSD bulls.
S61 (following image) would be a very attractive platform to launch a missile
Friday
EUR:EA final inflation (CPI (YoY) (Dec))
WHY IMPORTANT:
The flash inflation figures already pointed to a strong reading of 1.3% on core inflation, but the finer details will indicate the robustness of the recent pickup in core inflation (1.3% both in November and December last year).
Technical Side:
Again, if no surprise happens, like I said above, prices below this week's S61 will attract a lot of attention IMHO.
Why not other data
Of course I might be wrong, but I believe each data release should be judged about in its unique context. For example, while Fed has already signalled it'll be on hold for the time being and it's happy with current figures, why should I bother looking at USD's Tuseday CPI? Again, I'm not an economist or anything like that, but I prefer to stay out of the way until I understand where I'm going
Weekly Calendar Overview
Monday
GBP:Monthly GDP
WHY IMPORTANT:
The UK monthly GDP figure (Monday) will show whether the BoE will ease or not in the near term, which is gaining attention as we're getting close to 31 Jan (Brexit day). The latest Service PMI boosted investors' optimism that economic growth will rebound in the first half, dampening expectations for monetary easing; however MUFG Bank says we need more evidence to back this optimism.
Also, according to BoE, there could be a “relatively prompt response” from the bank if it looked like the economy faces a period of prolonged weakness.
Technical Side:
One interesting thing I've noticed is GBPUSD is currently almost on WPP which happened to be right in the middle of two key support/resistance lines in daily time frame. These two lines are interestingly the same as our well-known R100 and S100. What does this mean? IMHO this means anything that shoots GBPUSD towards either line is considered over-reacting because at this stage GBP is still more driven by Brexit news than data. Let me know what you think:
Wednesday
Global: US-China phase 1 deal signed
WHY IMPORTANT:
The event itself may not appear that important cause any possible reaction to it is already done and dusted. However all eyes are on the potential signals on phase two talks. When you think about risk-on assets like AUD and the way it reacted to phase one news last time, Wednesday's talks can be the beginning of a new round of opportunities
Thursday
EUR:ECB minutes
WHY IMPORTANT:
The inflation details are important for the ECB’s assessment and the combination of a pickup in core inflation and reduced downside risks may lead the ECB to revisit the growth risk assessment. The focus in the ECB minutes on Thursday will be on the framework of the strategic review.
Technical Side:
We shouldn't forget that EUR's last bunch of PMIs caused optimism and were interpreted by many as sign of stability. In addition to this, according to Societe Generale FX, EUR is moving towards a GDP of 0.9% versus 0.7% for US. When we compare these figures with US 2.3% and EUR 1.2% in 2019 it can be very encouraging for EURUSD bulls.
S61 (following image) would be a very attractive platform to launch a missile
Friday
EUR:EA final inflation (CPI (YoY) (Dec))
WHY IMPORTANT:
The flash inflation figures already pointed to a strong reading of 1.3% on core inflation, but the finer details will indicate the robustness of the recent pickup in core inflation (1.3% both in November and December last year).
Technical Side:
Again, if no surprise happens, like I said above, prices below this week's S61 will attract a lot of attention IMHO.
Why not other data
Of course I might be wrong, but I believe each data release should be judged about in its unique context. For example, while Fed has already signalled it'll be on hold for the time being and it's happy with current figures, why should I bother looking at USD's Tuseday CPI? Again, I'm not an economist or anything like that, but I prefer to stay out of the way until I understand where I'm going
Hi guys after careful thinking this is what I like to do going forward.I had today over 173 viewers 95% none members lurking etc and one even started his thread who got banned from here basically copying everything from here my work.That's going to stop. No more live calls. I am going to post only Fridays after the trading week is over posting my results and feedback on others trades.If there is something I really like you to see I will PM you.(there is no list so dont PM ask I know who core group members are and members who put honest work) People...
Hi Davit,
I hope you get to see my small contribution to this magnificent Thread, but I wish to break a lance for some of those so-called "lurkers" etc. If they are like me who constantly wants to learn from experts in order to better myself and my trading and if they are perfectionists or even trying to be a perfectionist, we tend to assimilate knowledge (not steal as someone has said higher up
), practice and are too careful not to come across as either a know-all or someone who is not prepared to put in the hard yards. On the contrary, I have been trading for years and I realised that my long chart analysis is not nearly where I wanted to be and started doing something about that. There are many of us that fall in this group, believe you me.I fully understand how you're feeling, but may I suggest you take the positive out of that rather than concentrating on the negative aspects and see that people appreciate you so much, that they are here learning, but are not ready to step up to the plate YET. THAT IS WHY WE ARE HERE IN DROVES.
Lastly, could some friendly sole please tell me why my chart is empty when I have all the correct indicators in my folder and using Davit's template as can be found on the first page of this thread. (See attached)
Finally, has anyone tried this method on the indices such as GER30 and US30 / US500 perhaps?
Thanking you most sincerely and continued success to you all, (lurkers included)
Hercs.
Hercs
