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University of Trading- BEAT THE BROKER

  • #61
  • Sep 16, 2008 12:48am Sep 16, 2008 12:48am
What a move for crude testing the $90 mark. Where to next, with the massive fall off in crude onw would expect to see a similar movement in gold. However, gold has found support of the 4hr 20ma. I would now be looking for shorts if it can break the four hr 20ma.

EURUSD will follow gold, so if gold breaks to the upside, I think EURUSDis a more attractive player. If not a move south in GOLD will be more attratice to follow the EURUSD pair.

Cable is in a triangle on the 1hr chart, I'd be waiting for the break of these, witha correlated move in gold and EURUSD before taking a position.
  • #62
  • Sep 16, 2008 1:03am Sep 16, 2008 1:03am
long on EURUSD
  • #63
  • Sep 16, 2008 1:30am Sep 16, 2008 1:30am
with crude fallen of so mucbh, one would expect to see some retracements. The first sign of this would be the break of the 5 min 60 ma at the 92.50
  • #64
  • Sep 17, 2008 1:00am Sep 17, 2008 1:00am
Good morning everyone, after another interesting day in the stock market the majors GBPUSD, EURUSD and gold are all above their weekly pivot. A little unclear this morning as we are waiting for direction.

Crude is boxed in between the 1hr 50 and 1hr 20, a break of this should give us some direction on gold and EURUSD.
Gold shorter term The break of the 1hr 50 ma would signal a move to the 4hr 20 or the weekly pivot around the 772 area.

EURUSD is above the the pivot, a break of the 1.4150 would show some weakness and a play to S1 around 100 pips lower

Cable is in a triangle from the highs of 1.8125 the lows 7740, I'd play the break, and 123 move.
  • #65
  • Sep 18, 2008 1:30am Sep 18, 2008 1:30am
With gold breaking out and giving us some direction we saw EURUSD and cable all break out too.

The longer term USDCHF is also a player now, with a first target of 1.0850. If you are not in this, I'd sugggest waiting for a retracement to the 1.1100 area before entering.

For the shorter term play, cable looks the most attractive to the downside if gold can't break through the recent highs.
  • #66
  • Sep 18, 2008 1:43am Sep 18, 2008 1:43am
If gold does not break the highs and creates a double top we could see it retrace back towards the pivot, with target at 847.

If this does materialise, a short move on cable could be a player too with an entry on the break and a 123 move to the support line. This would have a 1st target of 1.8110.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gold18th.gif Size: 42 KB
  • #67
  • Sep 18, 2008 2:22am Sep 18, 2008 2:22am
I mentioned the setup above, that move in gold banked a quick 100 points and 25 in cable. The pullbacks are always a riskier option, but with such an aggressive move yesterday some pullbacks to our moving averages was technically on the table.
  • #68
  • Sep 18, 2008 2:54am Sep 18, 2008 2:54am
It's always the way, you bank early and your initial target gets hit moments after you close. The target I mentioned has just been hit at 1.8110!! Never mind, I think it's time to leave the charts for the day, I'm starting to see red and green candles when I close my eyes. Will be back later to see how things have moved.

Have a great day trading!
  • #69
  • Sep 18, 2008 3:41am Sep 18, 2008 3:41am
EURUSD has moved 100 points north without much of a retracement, would a short, with a tight stop abobe the pivot be an option??
Attached Image (click to enlarge)
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  • #70
  • Sep 18, 2008 5:02am Sep 18, 2008 5:02am
Hi HMS,

Thx for sharing such method. I dont know about others or why the thread is kinda empty. I'm a scalper at 5m + 1m. Basically I like the your setup on the 5ms with CCI63 with CCI252. Do I neccessary gotto follow the MAs and the CCI10, as I dont really prefer MAs.

I'm a bit mechanical scalper. So I can follow Stoich. But I believe I could integrate your CCI into my trading style. Maybe I'll do a forward test first.

Thx Again.
Banker please return my pipins.
  • #71
  • Sep 18, 2008 5:34am Sep 18, 2008 5:34am
Hi HMS,

Please advise if there's any mistake. I was waiting on 5m GJ. When I shift to 15m, the CCI63 show cross. I waited the candle closed to confirm. I place order long TP50. As CCI63 cross while CCI252 on bullish mode. Therefore I entry.
Attached Image (click to enlarge)
Click to Enlarge Name: testing.gif Size: 18 KB
Banker please return my pipins.
  • #72
  • Sep 21, 2008 3:10am Sep 21, 2008 3:10am
Quoting Babyboy
Hi HMS,

Thx for sharing such method. I dont know about others or why the thread is kinda empty. I'm a scalper at 5m + 1m. Basically I like the your setup on the 5ms with CCI63 with CCI252. Do I neccessary gotto follow the MAs and the CCI10, as I dont really prefer MAs.

I'm a bit mechanical scalper. So I can follow Stoich. But I believe I could integrate your CCI into my trading style. Maybe I'll do a forward test first.

Thx Again.
Apologies for the late reply, I was away for a few days.

If you intending to trade with the trend, I'd look to trade with the 252 CCI, and the 63CCI as an entry. If you are just scalping for a quick 10-20 pips, the break of moving averages and the 63 CCI is quite powerful. The thing I like about moving averages is that when they are all close together, it is often a sign that a big breakout move will happen soon. In an oscillating market, the CCI is not great, so it helps to keep you out of a trade. I also like the moving averages as stop loss levels, as in the 123 move.

Regards
H
  • #73
  • Sep 21, 2008 3:19am Sep 21, 2008 3:19am
Quoting Babyboy
Hi HMS,

Please advise if there's any mistake. I was waiting on 5m GJ. When I shift to 15m, the CCI63 show cross. I waited the candle closed to confirm. I place order long TP50. As CCI63 cross while CCI252 on bullish mode. Therefore I entry.

That seems to be right to me. A great trade sir, well done!

Regards

H
  • #74
  • Sep 22, 2008 5:26am Sep 22, 2008 5:26am
Key Levels:
UP: 883
DOWN: 851

Following the break of 791 we have seen some strong buying up to 915, a pullback to 825 or the 4 hourly 20 ma. Gold then attacked the the highs but was unable to make any gains with a top around the 883 mark, finding support above the daily pivot. A break of 851 could see a play down to 841. Otherwise a break of 883 could see another attack towards the 910 mark.

Short term-
The 15 minute chart shows resistance at the 883 mark, with a clear run to 893 as a first target then the highs of 903.

There is strong support on the intraday charts but if it creates a double top at 880.2 then we could see a drop to 873 as a first target and then the hourly 20 at 868.
  • #75
  • Sep 22, 2008 5:28am Sep 22, 2008 5:28am
as I was typing, gold broke the immediate resistance at 880.2. Looks very bid
  • #76
  • Sep 22, 2008 10:50am Sep 22, 2008 10:50am
Quoting hms
With gold breaking out and giving us some direction we saw EURUSD and cable all break out too.

The longer term USDCHF is also a player now, with a first target of 1.0850. If you are not in this, I'd sugggest waiting for a retracement to the 1.1100 area before entering.

For the shorter term play, cable looks the most attractive to the downside if gold can't break through the recent highs.
I mentioned this trade a few days back... current price is 1.8028
  • #77
  • Edited 1:16am Sep 23, 2008 12:50am | Edited 1:16am
Good morning ladies and gents,

It's still rather dark over here, and I had the pleasure of waking up to the pouring rain.

GOLD KEY LEVELS: DOWN 890 UP 900

On to gold, which has moved considerably and has the daily pivot just below. It has created a double top on the houly chart, so this could be sign of some $ strength coming in this morning which would drag gold lower.

EURUSD KEY LEVELS: DOWN 1.4700 UP 1.4867
The break of the daily pivot and at 1.4700 could be a sign of some $ strength before a possible continuation.

GBPUSD: KEY LEVELS DOWN 1.8480 UP 1.8650
There is a nice gap play down to 1.8350 if we see some pullbacks onb this, if not be aware that the weekly pivot is just above at 1.8670
  • #78
  • Sep 23, 2008 1:32am Sep 23, 2008 1:32am
As mentioned $ strength seems to be on the cards, gold and oil are both looking weak
  • #79
  • Sep 23, 2008 2:18am Sep 23, 2008 2:18am
Think it's time to close up shop. Closed gold for 45, oil for 140 and EURUSD for 45. Not a bad start to the day. Think it's back to bed for a while.

Speak soon.
  • #80
  • Sep 24, 2008 11:05am Sep 24, 2008 11:05am
You know what you uncle would say when you tell if that you want to buy your first flat... make sure it's in the right location etc etc.
Well it seams that this thread is not really getting people involved so I have decided to move it to Forex Factory- Interactive Trading- Momentum Trading.

Hope they will be a livley bunch.

Feel free to pop over and say hello if you like.

Best regards

Hemal
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