The London Open

Good trading all

Think Crude could be interesting to watch today...

Dan007

Morning all

Cable moved early this am but 'room' managed to go short below 50 and 1/2 profit taken at 1.9700 and the other 1/2 profit taken down at 1.9670...

EURUSD was another short at 1.5610 for a move to the 1.5570 level.. The 4hour chart looks set for a larger fall, so manage your position well on this.

Overall a good start to the day...

Crude having a little bit of support off MA's but CCI is set for a fall..Orders are set and we have to be patient..Lots of volatility in this one so make sure orders are set well..

Dan007

Gold looking very interesting... If Crude breaks support, it will drag our Gold with it and help our USD positions...

Dan007

Hi

Look at this crude..Anyone agree this is going to go???

Dan007

007. I'm short at 129.75. Thanks for the advice

I really do see this going if it builds a bit of momentum.

Nice one.

Great work by your guys today on the Gold by the way. Still in that and confident crude will help see it past yesterdays lows.

Been following the thread. Not sure Oil ready to go yet. Its on the way but think it will stay close to 129-130. Tomorrow, Friday, and close of month will see the range really change. Just my view.

Hi all,
Intersting day so far - still waiting for this potential fall on crude to add confidence on my Gold (short) and EUR/USD (short) trades.

Market started too early for me on the GBP/USD & USD/CHF trades as I don't like jumping in late. Waited for a larger retracement but never came. CCI's gave excellent entry points if you were up early enough though.

Got into GOLD as it fell & EUR/USD on the retracement & still holding them.

As I say I'm still waiting for CRUDE to fall to add weight to these trades. If this happens I will hold onto them this afternoon.

Intersting again this morning as the dollar gained strength, the GBP/JPY & GBP/CHF rallied and as the GBP/USD found support and rallied it gave way to 2 fantastic trades. Double whammy again.

Cheers Dan,

Simon.

hi all. great to see everyone is making pips!

Just want to confirm one thing with the cci...please anyone feel free to answer. Just need to know if its a cross the the zero level that confirms direction or the more conventional cross back above the -100 or down fom the +100 level?

Oil making the move earlier than I thought - looks like it will keep going

Hi all

Great day to be honest...

Banked Gold for today and banked half on Crude below figure for 120ish points.

EURUSD still looks attractive on the 4 Hour and many of the 'room' are short above 1.5600.

See you tomorrow.

Dan007

Hi

Indices look vvvvvvvvvvvvvvvvvvvv weak.

Good thing about stops hey... Had a stop on Crude where i entered incase of spike like this, so happy to have banked 1/2 for 120 pips.

Dan007

Any takers???

Well done Dan.

that baby did go !!

I got out before the news for 80 ish, then back in after the break of previous low with Simon for another 160 or so. Gutted I wasn't long before the news but that's trading.

Got 134 on Gold too after bottling it initially, so bar a 30 pip hit on EURJPY still over 300 on the day.

Can't wait for that special P.M feature session in the room tomorrow. I see a big big profit taking day coming.

Take care.

Nicely done - Oil was certainly a big mover today. Well done Dan007 and team some really good calls.

Hi

Well Indices didnt break the support levels, so lost interest in short positions...

Looking forward to tomorrow...

Got 2 sessions in the 'room' so should be fun and friday afternoon can offer some great trading opportunities.

Speak tom.

Dan007

Hi Rockwell.

The CCI levels are very important. I use the 84 on the 15m chart for direction and 21 for entry as does Dan and the gang.

When in a short trade the 84 will go -150 -200 -300 etc. I always stay in until that crosses above the
-100 level, then look at exit, unless my target is already met.

Does that help ??

Hi Fx pimp and thanks for your reply. I am still a little confused and am probably just being dumb. I have my cci on 10 and 21 on all charts. i will correct that for 15min to 84 as you suggest. Thanks for that.

what confuses me is this. i have my cci levels set as follows from top to bottom. 300 200 100 0 -100 -200 -300.

am i right that to go short for example, i should wait until the cci crosses down from the 0 through to the -100? or is it ok to look for shorts when the cci starts to cross down from 100 to 0? i hope you understand what I'm asking and thanks for your patience!

Rockwell,

You don't need the 200 and 300 levels. Get rid of them. 100 levels are fine

The 84 on your 15m is your 60m 21 and your 4hr 21 when displayed on your 60m chart.
4 x 21 = 84 / 4 x 15m = 60m / 4 x 60m = 4hr, yes ?

You wont need a 10 on your 15m chart. just a 21 and 84.

All other charts you just use a 10 & 21 (unless you want 84 on 60m for longer term stuff)

Thanks for that. starting to make sense!

Hi can someone help me with the settings on the Heiken Ashi please?

I have never used them before.

Thanks

Jeremy