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Medici trades the London open

  • #61
  • Dec 18, 2009 12:57am Dec 18, 2009 12:57am
Approaching 7am and a bit too quiet. This may go south, so out and will look at price action at the entry level.
  • #62
  • Dec 18, 2009 1:10am Dec 18, 2009 1:10am
GM - I got up a few hours ago and placed a limit order at 6215 ..... I've just closed it, so that's a rather good start to my day...

The low was at the 62% retrace of the last rally, so IF I think its holding I'll buy....
Trading Levels with WRBs
  • #63
  • Dec 18, 2009 1:10am Dec 18, 2009 1:10am
So which level are we watching for next entry? 4350 on euro and 6137-42 cable?
  • #64
  • Dec 18, 2009 1:16am Dec 18, 2009 1:16am
Quoting Islander
GM - I got up a few hours ago and placed a limit order at 6215 ..... I've just closed it, so that's a rather good start to my day...

The low was at the 62% retrace of the last rally, so IF I think its holding I'll buy....
GM, good to see you here. Well done, again!

Do you mean the low of yesterday in cable?
  • #65
  • Dec 18, 2009 1:20am Dec 18, 2009 1:20am
Quoting okrutny
So which level are we watching for next entry? 4350 on euro and 6137-42 cable?
Those were obvious supports, but don't know if I'd enter long there. More likely those levels will break, so looking for shorts on retracements.
  • #66
  • Dec 18, 2009 1:22am Dec 18, 2009 1:22am
Quoting medici
GM, good to see you here. Well done, again!

Do you mean the low of yesterday in cable?
Thanks

No the low so far in this current fall - 6133....I also find that in cable the **35 levels are often like sweet spots
Trading Levels with WRBs
  • #67
  • Dec 18, 2009 1:39am Dec 18, 2009 1:39am
Quoting Islander
Thanks

No the low so far in this current fall - 6133....I also find that in cable the **35 levels are often like sweet spots
OK, good call. I went short at 6154, then out and long at 6143 as it didn't break through it.
  • #68
  • Dec 18, 2009 1:39am Dec 18, 2009 1:39am
There was a Higher Low on the 1 min, so I took a small buy - and now added on the HL on the 5 min.

I'll take partials at 6162 - the last 5 min low and now also the 5m 30 ema that I use a lot for guidance....
Trading Levels with WRBs
  • #69
  • Dec 18, 2009 1:44am Dec 18, 2009 1:44am
Quoting Islander
There was a Higher Low on the 1 min, so I took a small buy - and now added on the HL on the 5 min.

I'll take partials at 6162 - the last 5 min low and now also the 5m 30 ema that I use a lot for guidance....
And I exited and went short at 6162. Exit if it doesn't break below 5154.
  • #70
  • Dec 18, 2009 1:45am Dec 18, 2009 1:45am
Now long from 5154.
  • #71
  • Dec 18, 2009 1:46am Dec 18, 2009 1:46am
Quoting medici
OK, good call. I went short at 6154, then out and long at 6143 as it didn't break through it.
I actually took partials on my long at the 54 level and moved my stop to B/E +1....luckily the low vol retrace didnt take me out...
Trading Levels with WRBs
  • #72
  • Dec 18, 2009 1:48am Dec 18, 2009 1:48am
Quoting medici
Now long from 5154.
.....I took partials, holding remainder for the DP area 6191...
Trading Levels with WRBs
  • #73
  • Dec 18, 2009 1:50am Dec 18, 2009 1:50am
Thanks guys for your inputs, are very helpful. I'm not trading today anymore so have a nice weekend See you monday.
  • #74
  • Dec 18, 2009 1:52am Dec 18, 2009 1:52am
Quoting okrutny
Thanks guys for your inputs, are very helpful. I'm not trading today anymore so have a nice weekend See you monday.
Enjoy your weekend, and see you Monday.
  • #75
  • Dec 18, 2009 1:53am Dec 18, 2009 1:53am
Quoting Islander
.....I took partials, holding remainder for the DP area 6191...
Which is where I exited too. Better safe than sorry, and today's pay cheque in the bank.
  • #76
  • Dec 18, 2009 1:53am Dec 18, 2009 1:53am
Quoting Islander
.....I took partials, holding remainder for the DP area 6191...

Closed at DP and now flat and I'll watch LO....
Trading Levels with WRBs
  • #77
  • Dec 18, 2009 1:54am Dec 18, 2009 1:54am
Quoting okrutny
Thanks guys for your inputs, are very helpful. I'm not trading today anymore so have a nice weekend See you monday.
Thanks, you too....
Trading Levels with WRBs
  • #78
  • Dec 18, 2009 1:55am Dec 18, 2009 1:55am
Quoting Islander
.....I took partials, holding remainder for the DP area 6191...
Btw, what do you mean by DP?
  • #79
  • Dec 18, 2009 2:04am Dec 18, 2009 2:04am
Quoting medici
Btw, what do you mean by DP?
Daily Pivot calculated from 5pm est
Trading Levels with WRBs
  • #80
  • Dec 18, 2009 2:08am Dec 18, 2009 2:08am
Quoting Islander
Daily Pivot calculated from 5pm est
I see. Why 5pm EST? Back in the days when I had daily pivots on the charts I used to do them from 11pm London time, i.e. midnight CET.

My reason for exit was that it was the bottom of the week before yesterday's drop.
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