The London Open | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

8X34 EMA X-Over with London open and 9:30 EST open for indices 57 replies

London open to Sydney open 23 replies

London Calling . . . Various strategies focusing on London Open 58 replies

Market movement between Asian and London open 6 replies

Will the London Exchange Be Open Monday, May 7th? 10 replies

Attachments: The London Open
Exit Attachments

The London Open

  • #241
  • Jun 5, 2008 8:59am Jun 5, 2008 8:59am
Hi guys,

seems like I've missed all the action.

I have just closed my final part of my EURJPY at 164.65 and think it needs a rest now.
With USDJPY tiring and EURUSD at a brick-wall at 1.5550 it's all over for me.
A nice 200 pip move so not going to be greedy. Take your money and run for the hills Fernie. This goes no higher than 164.70 tonight in my opinion.

Good to see so many of you guys adding a bit of banter. Keep it up.
  • #242
  • Jun 5, 2008 9:11am Jun 5, 2008 9:11am
I know we don't cover EURCAD but have a look at the chart. The power of the CCI's in action.

Jeremy
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.jpg Size: 121 KB
Things you should know.
  • #243
  • Jun 5, 2008 9:29am Jun 5, 2008 9:29am
Hi all. So, what happened with gbpchf today? anyone know. It basically dumped all its gains in prettymuch record time, not that ime complaining as i managed to cream 20 pips from the Sterling sell-off. Dan, i asked a question this morning but you must have missed it. I was watching the gbpchf this morn an though the 84ci was bearish, the 21 had just curled up from the bottom. at the time £/chf was hovering around the morning low, near 203.50 and i asked if it was wise to take the 21 cci curl up as an indication that the down leg move was about to end. (which it did, promptly rallying for the next few hours).Despite the apparent confirmation of my analysis, i would just be interested in your thoughts on that Dan/fxpimp/anyone with real experience of using the cci 84/21 combo.cheers!
  • #244
  • Jun 5, 2008 9:55am Jun 5, 2008 9:55am
Hi all

Heading back home now...Missed a few trades like the GBPCHF but hey thats trading..Cant catch the wave all the time.

Chilled San Miguel and swim in the pool, will wrap it off nicely for me...

Turning out to be quite a good week. Def dont want to chuck it away tom, so might sit back and spectate the NFP at 1.30pm tom. Leave that to the big boys like the FXPIMP.

Have a good night all

Dan007
  • #245
  • Jun 5, 2008 10:02am Jun 5, 2008 10:02am
Hi Jeremy

Yes nice shout with the EURCAD...

Hi Rocwell..

Yes good call but not a great setup for me to be honest...Many of the team were looking for a short on the break down this am and with GBP selling off it looked good to the daily 50ma. Cable then found support and GBPCHF followed. One of those annoyances of trading...

I have a golden rule that when i trade i never panic and never rush back into a trade on the same chart, that a second ago i thought was about to drop...There is nothing worse than going short and getting stopped and then going long and getting stopped. I might as well smash an egg on my head!!!

I prefer to move on and analyse another chart... This way i dont get caught out on the same currency and i make a controlled and sensible analysis.

Learn't the hard way over the years..

Cheers
Dan007
  • #246
  • Jun 5, 2008 11:14am Jun 5, 2008 11:14am
Quoting rocwell
Hi all. So, what happened with gbpchf today? anyone know. It basically dumped all its gains in prettymuch record time, not that ime complaining as i managed to cream 20 pips from the Sterling sell-off. Dan, i asked a question this morning but you must have missed it. I was watching the gbpchf this morn an though the 84ci was bearish, the 21 had just curled up from the bottom. at the time £/chf was hovering around the morning low, near 203.50 and i asked if it was wise to take the 21 cci curl up as an indication that the down leg move was about to end. (which it did, promptly rallying for the next few hours).Despite the apparent confirmation of my analysis, i would just be interested in your thoughts on that Dan/fxpimp/anyone with real experience of using the cci 84/21 combo.cheers!
Rocwell. Trichet said something which was good news for Euroland so EURUSD strengthens and USDCHF weakens. GBPCHF just followed USDCHF.
  • #247
  • Jun 5, 2008 11:34am Jun 5, 2008 11:34am
Hi Dan & all,
I have to hold my hands up for the gbp/chf short. This was my mistake - It looked like a short on the 15 min chart with the CCI's nearly perfectly set up. But on reflection after studdying my mistakes it was not a high probability short on the hourly chart - It had found support - I got my stop wiped out too - But have learnt by my mistake.

I have to take my hat off to Zak - superb trade on the EUR/JPY long.

My trades were - Gold - 61 pips, GBP/USD - 39 pips, EUR/USD - 49 pips long. & long in the DJI as I write this.

Really enjoyed today - I shall confirm with my hourly chart in future & avoid silly mistakes.

Cheers Dan & all.

Simon.
  • #248
  • Jun 5, 2008 11:46am Jun 5, 2008 11:46am
Hi Dan007,

Thank you for starting this promising thread.
The CCI indicator on my MT4 platform is different from yours. Mine is without histograms. Where did you get from your CCI Indicator ? Could you upload it ? Thanks!
  • #249
  • Jun 5, 2008 12:15pm Jun 5, 2008 12:15pm
Scardi,

As requeted

Try any of these CCI indicators

One is a two in one
Attached File(s)
File Type: mq4 DoubleCCI-With_EMA.mq4   7 KB | 267 downloads
File Type: ex4 FX Sniper's CCI.ex4   5 KB | 246 downloads
File Type: mq4 CCIWithAlert.mq4   4 KB | 283 downloads
  • #250
  • Jun 5, 2008 2:08pm Jun 5, 2008 2:08pm
Hi Guys & Girls,

Well. What a day ! What a day.

We said in the room about the whole potential pullback to the 200 on the crude didn't we.
Look at my post from yesterday about the gold. Look familiar ?
Exactly the same set-up.
Double-bottom, higher low, diverging CCI84, BANG, we were in at what; $122.00 ?
Look where we are now !! Almost 600 pips higher. Couple that with the EURJPY and you're upto 850 had you stayed with it to the ultimate target of 165.00 (sorry my targeting was a bit squiffy with price only going 164.96)

Even taking into account the small hit taken by some on the GBPCHF there was a potential 800++ pip day.

It just goes to show how a little bit of nerve and a bit of patience will win the day eventually.

By all means get in and out with 10-20 pips, but play these longer-term ones with a different bank, with a slightly bigger stop and reduce your stake and amaze yourself at the end of each week with an extra 500-1000 pips to add to your short-term book.
Attached Image (click to enlarge)
Click to Enlarge Name: crude.gif Size: 28 KB
  • #251
  • Jun 5, 2008 2:28pm Jun 5, 2008 2:28pm
Quoting JA FX-Prince
Scardi,

As requeted

Try any of these CCI indicators

One is a two in one
Thank you very much JA FX-Prince, but they are different from CCI Indicator. I hope Dan007, or some other guy will upload the CCI Indicator and explain its setting.


  • #252
  • Jun 5, 2008 3:22pm Jun 5, 2008 3:22pm
Quoting scardi
Thank you very much JA FX-Prince, but they are different from CCI Indicator. I hope Dan007, or some other guy will upload the CCI Indicator and explain its setting.



It's the FX Sniper one you need. Just have to change the colour settings.
Come to the room and we'll show you how to get the most from it.

Email me and I'll get you in on Monday
  • #253
  • Jun 5, 2008 11:44pm Jun 5, 2008 11:44pm
Pimp - Great work.....Still learnig the ropes but with the continued feedback from the room its going to make the trading more consistent and more pipful! Look forward to your thread later and good luck for the call.
J
  • #254
  • Jun 6, 2008 12:06am Jun 6, 2008 12:06am
Bonjour,

Just a quick note, prior to hosting the room with Monkey-Boy in the absense of Dan.
Don't think we'll be doing much trading but the banter will be there, for sure.

I've a bit of a mixed picture today to be honest.

Gold looks like it's found some support, but on the 4hr doesn't look that appealing.
However, with crude accelerating off the 261.8 fib in such a fashion yesterday it would be no surprise to see Gold back up at $895-$900 it those non-farm numbers come out much worse than expected, which is doubtful.

We're well aware of pullbacks and although I'll be siding on caution. With a good entry point, a cheeky one may be possible.

Euro is supported as is GBPCHF which worries me a bit. Usually GBPCHF will follow USDCHF to a certain degree, so I'd like to see the latter fall-off a little to confirm possible further gains in Euro.

As for general accross the board U.S weakness, it's not perfect, with USDJPY still looking quite stable.
No chance of going in there at these levels in my opinion and would rather wait for a potential double top before possibly going short.
The other Yens looking quite good too but no overly keen on jumping in after 200 pip moves.

I'll see how it pans out, but my only possible at this moment is Gold. Long IF USDJPY starts to collapse, which could also take the Swiss pairs and the other Yens south of the border too and add some impetus to Euro.

Nothing doing it for me on cable. Happy to watch that again from the bench.

Have a good day.

See you all in the Room.
  • #255
  • Jun 6, 2008 3:11am Jun 6, 2008 3:11am
Hi all

Looking forward to our special Non Farm Payroll afternoon in the room...

Trichet was a cheeky boy yesterday talking about a potential move up in rates... Inflation obviously overrides growth. The banks lost a fortune with the crunch in Europe, due to the US banks selling them all the sub prime packages...Saying that living in Europe isnt pleasant with Inflation getting out of control.... My eggs are costing me a fortune!!! Need to buy my own chickens...Get those rates up Mr Trichet!!!

Puts my EURUSD position in a hole but still fancy it lower so going to hold it for now...

Will hedge myself on my short term book with any spikes up.

If you want to get into this session email [email protected] asap and see if he can squeeze u in...

Dan007
  • #256
  • Jun 6, 2008 3:38am Jun 6, 2008 3:38am
Good Morning Dan, FX Pimp and all - what a great thread and so in line with my own ideas.

Whilst I've never used the CCI - in fact I have been naked for some time and only last week re-added my MAs on my lower TFs and also the only unbounded indicator that I had found - the Snake Force - you can check my last post in the Auslenco thread to see my 5m GJ chart and also my 15m charts.

My main focus is on GBPJPY and thus I follow and trade USDJPY and GBPUSD, plus EURUSD, USDCHF and the Dow, oil & gold!

Now to do some homework with your setup and the CCI.

Regards

Islander
Trading Levels with WRBs
  • #257
  • Jun 6, 2008 3:48am Jun 6, 2008 3:48am
Hi Islander

Trading naked is not recommended... MA's and CCI's work for us as a group...

Great to have you on board...

Speak soon

Dan007
  • #258
  • Jun 6, 2008 3:54am Jun 6, 2008 3:54am
Ooooh-urgh.

Don't know about you double-o but I'm very keen on my zebra-print numbers whilst trading.
Forgive me for being a prude but being naked makes me very uncomfortable. Especially when at seminars.

Onto business. I do believe there is something going on in THE room shortly is there not. A fresh 50 faces ?
I do hope they're decent !

May the pips be with you.
  • #259
  • Jun 6, 2008 4:13am Jun 6, 2008 4:13am
Quoting FX Pimp
Ooooh-urgh.

Don't know about you double-o but I'm very keen on my zebra-print numbers whilst trading.
Forgive me for being a prude but being naked makes me very uncomfortable. Especially when at seminars. ROFL

Onto business. I do believe there is something going on in THE room shortly is there not. A fresh 50 faces ?
I do hope they're decent !

May the pips be with you.
Thanks

LOL - yes, been there, got the sunburn! - now less exposed and thus probably more acceptable in your company!

As today's Freaky Friday + NFP, I've banked my pips and am in no hurry to re-enter - somehow pips are even slipperyier on Fridays IMO.

Have a good one http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #260
  • Jun 6, 2008 4:15am Jun 6, 2008 4:15am
Quoting Dan007
Hi Islander

Trading naked is not recommended... MA's and CCI's work for us as a group...

Great to have you on board...

Speak soon

Dan007
Thanks - and I am now decent....http://www.forexfactory.com/images/icons/icon6.gif
Trading Levels with WRBs
0 traders viewing now