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Medici trades the London open

  • #161
  • Dec 22, 2009 12:34am Dec 22, 2009 12:34am
Gratulations of your gathered pips. Every day I'm learning from you. Thank you mates and see you tomorrow
  • #162
  • Dec 22, 2009 12:49am Dec 22, 2009 12:49am
@ okrutny.....have a good one....

@ medici....I totally agree about LO - that's why I start before FO and many days I can hit my daily quota before LO.

I'm thinking than with the UK travel chaos volumes will be very light till the year end shinanigans start after Xmas.....spending hours a day commuting was one reason why I left the UK, now I'm a minute from an autopista link and my cruise control set to 140 clicks
Trading Levels with WRBs
  • #163
  • Dec 22, 2009 12:49am Dec 22, 2009 12:49am
Quoting Islander
My signals off my 1 min chart.....I'm cross that I missed the buy off the 6050 level at FO. I didnt take the last buy off the HL just after LO as I'm favouring the short side...mmm and that's against the rising MAs.....
Thanks for instructive chart. Mine attached.

The reason for the long at 6050 was, just as the Euro short from 4647 the other day, retracement to a level that's been a battleline over the past 24h and then given way during the Asian session. Almost always works, both in the sense that you can take the trade with that level as destination at around 6am, and then reverse at around 7am.

Quadruple reasons for short, and then calling it quits on spike down, were 00s, 50%, MR1, and almost an hour of buying.
Attached Image (click to enlarge)
Click to Enlarge Name: cable 22dec09.jpg Size: 150 KB
  • #164
  • Dec 22, 2009 12:51am Dec 22, 2009 12:51am
Quoting okrutny
Gratulations of your gathered pips. Every day I'm learning from you. Thank you mates and see you tomorrow
You're welcome. Thanks for sharing and see you tomorrow.
  • #165
  • Dec 22, 2009 1:00am Dec 22, 2009 1:00am
Short on the break of the DP / 30 ema

MArket Profile shows a small increase in volume around that consolidation area, so I'm hoping that it was distribution and that we may test the support areas.....TWT
Trading Levels with WRBs
  • #166
  • Dec 22, 2009 1:02am Dec 22, 2009 1:02am
Quoting medici
Thanks for instructive chart. Mine attached.

The reason for the long at 6050 was, just as the Euro short from 4647 the other day, retracement to a level that's been a battleline over the past 24h and then given way during the Asian session. Almost always works, both in the sense that you can take the trade with that level as destination at around 6am, and then reverse at around 7am.

Quadruple reasons for short, and then calling it quits on spike down, were 00s, 50%, MR1, and almost an hour of buying.

Mmm, very interesting, thanks....
Trading Levels with WRBs
  • #167
  • Dec 22, 2009 1:02am Dec 22, 2009 1:02am
Quoting Islander

@ medici....I totally agree about LO - that's why I start before FO and many days I can hit my daily quota before LO.

I'm thinking than with the UK travel chaos volumes will be very light till the year end shinanigans start after Xmas.....spending hours a day commuting was one reason why I left the UK, now I'm a minute from an autopista link and my cruise control set to 140 clicks
I want to hit my daily quota before 8am consistently as well, regardless of market conditions, and anything thereafter is a bonus.

Yes, London would be a nightmare if I didn't work from home...and Spain sounds like a good alternative!
  • #168
  • Edited 1:33am Dec 22, 2009 1:12am | Edited 1:33am
Quoting Islander
Short on the break of the DP / 30 ema

MArket Profile shows a small increase in volume around that consolidation area, so I'm hoping that it was distribution and that we may test the support areas.....TWT
Good one. Breaks of DPs out of low volatility tend to be good ones, such as the Euro short at 4630 on 15th December or, for that matter, 4336 yesterday.

My experience tells me that risk-reward on trades after things have quieted down after 9am isn't that great. But best of luck.
  • #169
  • Dec 22, 2009 1:15am Dec 22, 2009 1:15am
Quoting medici
I want to hit my daily quota before 8am consistently as well, regardless of market conditions, and anything thereafter is a bonus.

Yes, London would be a nightmare if I didn't work from home...and Spain sounds like a good alternative!
Consistency is what I really need to concentrate on

I closed my last short after it stalled a little above the 50 level....mm, that's a HL.....
Trading Levels with WRBs
  • #170
  • Dec 22, 2009 1:16am Dec 22, 2009 1:16am
A classic London morning, where the analysis based on experience was spot on. Nice pips banked, and pay cheque written

Thanks to all for sharing and contributing, and see you tomorrow for what will be my last trading session before Christmas.
  • #171
  • Dec 22, 2009 1:23am Dec 22, 2009 1:23am
Quoting Islander
Consistency is what I really need to concentrate on

I closed my last short after it stalled a little above the 50 level....mm, that's a HL.....
Consistency - my number one focus area for improvement. "We are what we repeatedly do..."

Have a nice day down in warm Spain. Soon going out in foggy London for some Christmas shopping...
  • #172
  • Dec 22, 2009 1:38am Dec 22, 2009 1:38am
Quoting medici
Consistency - my number one focus area for improvement. "We are what we repeatedly do..."

Have a nice day down in warm Spain. Soon going out in foggy London for some Christmas shopping...

I'm trying to "repeatedly bank pips" .....just pirated a few more after that news spike down on better than expected data allowed me to buy for a retrace.....hope your shopping goes well....BFN
Trading Levels with WRBs
  • #173
  • Dec 22, 2009 10:45pm Dec 22, 2009 10:45pm
GM, expecting buy orders at 4244, because of 23.6 of yesterday's range and support of asian session. In cable i would expect selling at 5977, what go you think?
  • #174
  • Dec 22, 2009 10:52pm Dec 22, 2009 10:52pm
Quoting okrutny
GM, expecting buy orders at 4244, because of 23.6 of yesterday's range and support of asian session. In cable i would expect selling at 5977, what go you think?
GM, yes it seems to be a case of first up and then down like previous days. Less sure about 5977. Already long both babies btw.
  • #175
  • Dec 22, 2009 10:57pm Dec 22, 2009 10:57pm
GM - I'm long cable off the MS1 at 5942 - also a 5 min HL....
Trading Levels with WRBs
  • #176
  • Dec 22, 2009 11:00pm Dec 22, 2009 11:00pm
I see a similar set up in € off its days open level and ditto Swissy under its DOL
Trading Levels with WRBs
  • #177
  • Dec 22, 2009 11:02pm Dec 22, 2009 11:02pm
GM, Islander, it's -3C in London...how's Spain?
  • #178
  • Dec 22, 2009 11:12pm Dec 22, 2009 11:12pm
Quoting medici
GM, Islander, it's -3C in London...how's Spain?
Yeeks - I'd need my fur lined whatsit to survive brrr....15º here thanks....
Trading Levels with WRBs
  • #179
  • Dec 22, 2009 11:14pm Dec 22, 2009 11:14pm
Hi, long cable 5953. on 5ema retrace to 30. and then 5950. When you write price, is the price you took transaction not the pice where the bid was, right?
Euro having hard times. LH on 1m?
  • #180
  • Dec 22, 2009 11:19pm Dec 22, 2009 11:19pm
Both euro and cable fighting 4h pivots. imho Looks like they're winning..
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