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Islander and Medici trade the European open

  • #821
  • Feb 11, 2010 2:14am Feb 11, 2010 2:14am
Quoting Ausie_Trader
Hey guys, new to FF but not new to Forex. Ive been trading for about 2 years now. I trade cable during FO and LO also, and use primarily tick charts and a 5 min chart with pivots and psych levels. Thought I might drop in and say hi as it seems we all are looking at the same thing. Always happy to share and learn also
GM AT, welcome to the thread......http://cdn.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #822
  • Feb 11, 2010 2:22am Feb 11, 2010 2:22am
Looks like cable and euro ready to break a trend, cable making HLs and euro not reacting with rapid sell off the MA's. I took small longs in both..

Edit: Ehhh... Bad day ;( Enjoy your weekend and see u on monday
  • #823
  • Feb 11, 2010 2:30am Feb 11, 2010 2:30am
Caught some shorts down on cable from 12>98 after bounce off 18 and 25>12, sort of late with this trade as there was a false breakout past 30 and back down. Slow day today...
  • #824
  • Feb 11, 2010 2:36am Feb 11, 2010 2:36am
Quoting okrutny
Looks like cable and euro ready to break a trend, cable making HLs and euro not reacting with rapid sell off the MA's. I took small longs in both..

Edit: Ehhh... Bad day ;( Enjoy your weekend and see u on monday
Yeah, I think medici had it right to just stand aside while this meeting is going on. I got chopped up a little earlier in the session for small losses but I've decided to wait on clear directional movement before I go for anything else. Sometimes it's pretty easy to get a bias when a level like the MR1 in EU is respected nicely and we try to fight MAs and short-term trend too much. Might have some better action now that we've broken lower though...
  • #825
  • Feb 11, 2010 2:52am Feb 11, 2010 2:52am
Quoting Islander
GM AT, welcome to the thread......http://cdn.forexfactory.com/images/icons/icon7.gif
Thanks mate, its good to see people here trading with price action... and on cable as well. Double bonus

Im not game enough to take anymore shorts just yet, but i am looking to buy off the 70 area if it hits
  • #826
  • Feb 11, 2010 2:55am Feb 11, 2010 2:55am
MIssed the down wave but hit it for 6 ticks on the way up just now 72>78
  • #827
  • Feb 11, 2010 3:04am Feb 11, 2010 3:04am
Quoting Auron112
Yeah, I think medici had it right to just stand aside while this meeting is going on. I got chopped up a little earlier in the session for small losses but I've decided to wait on clear directional movement before I go for anything else. Sometimes it's pretty easy to get a bias when a level like the MR1 in EU is respected nicely and we try to fight MAs and short-term trend too much. Might have some better action now that we've broken lower though...
Yep, I agree. Should be traded in direction of trend entering on retracements. (We ride that trend right to the end) On days like today would work, but what with days where trend changes often? It's hard to recognize when price is going to break a trend, but it's all trading is about. Matter of experience.

BTW: What I spot is that today's Thursday So there is going to be a chance to begin weekend with a profit see you tomorrow then but coming weekend you can enjoy anyway ;d
  • #828
  • Feb 11, 2010 3:05am Feb 11, 2010 3:05am
So far this morning has been a great example of how to trade off the falling MAs.....pity I didnt continue with my earlier shorts http://cdn.forexfactory.com/images/icons/icon11.gif.....now price is back to yesterdays low after an ultra high volume harami? followed by a small spinning top.....will this be the turning point.....TWT.....
Trading Levels with WRBs
  • #829
  • Feb 11, 2010 3:13am Feb 11, 2010 3:13am
Its all in the chart.......
Attached Image (click to enlarge)
Click to Enlarge Name: feb 11 cable 1m 0910 gmt.gif Size: 20 KB
Trading Levels with WRBs
  • #830
  • Feb 11, 2010 4:04am Feb 11, 2010 4:04am
Nice trading islander, i didnt quite capture all of them like you did...

Still inexperienced
Attached Image (click to enlarge)
Click to Enlarge Name: gu 11 feb.gif Size: 44 KB
  • #831
  • Feb 11, 2010 6:02am Feb 11, 2010 6:02am
Quoting Islander
So far this morning has been a great example of how to trade off the falling MAs.....pity I didnt continue with my earlier shorts http://cdn.forexfactory.com/images/icons/icon11.gif.....now price is back to yesterdays low after an ultra high volume harami? followed by a small spinning top.....will this be the turning point.....TWT.....

Well, almost....There was a HL about 45 mins after the small ¿stop sweep? under yesterdays low went ~10 pips lower. I bought the HL before I went out and as expected the news of some sort of € deal has also spiked cable up....and hit my TP for good pips....
Trading Levels with WRBs
  • #832
  • Feb 11, 2010 8:55am Feb 11, 2010 8:55am
Plenty off opportunities today....and the L-L and H-H timing was spot on at the gold circles.....I'm showing another range indy that I sometimes use....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 11 cable 5m 0830est.gif Size: 33 KB
Trading Levels with WRBs
  • #833
  • Feb 11, 2010 11:49am Feb 11, 2010 11:49am
I've just got back to find that cable put on more than 100 pips in an hour and a quarter......obviously € related as it had been flat around its 5600 level for a couple of hours whilst € fell steadily.

Looking at my news service I can see that €s final push lower came as soon as the new EU President Van Rompy-pompy started to speak....the rest of the heavy hitters then joined in and 15 mins later after an equal low in € it started to rally.....cable, which had continued sideways, immediatly took off, quickly with a 38 pip 5m candle, running up 107 pips vs €s 74 pips......

It will be interesting to see what happens tomorrow when the small print has been looked at......
Trading Levels with WRBs
  • #834
  • Feb 12, 2010 12:17am Feb 12, 2010 12:17am
GM - a LH about 20 mins ago at 5700 and I'm short....€s also just turned south from its 3675 level.....German Prelim GDP q/q due at FO.....
Trading Levels with WRBs
  • #835
  • Feb 12, 2010 12:29am Feb 12, 2010 12:29am
GM Islander.. I have taken shorts on euro from upper boundary of the range but i got scared of the PA and left with a few pips loss.. Now I'm long in cable, trying to enter upper 5m trend on retracement.
  • #836
  • Feb 12, 2010 12:37am Feb 12, 2010 12:37am
Quoting Islander
GM - a LH about 20 mins ago at 5700 and I'm short....€s also just turned south from its 3675 level.....German Prelim GDP q/q due at FO.....
Closed for a couple of pips after it moved back above the 30 ema.....very low volumes, probably waiting for € data....
Trading Levels with WRBs
  • #837
  • Feb 12, 2010 12:41am Feb 12, 2010 12:41am
Quoting okrutny
GM Islander.. I have taken shorts on euro from upper boundary of the range but i got scared of the PA and left with a few pips loss.. Now I'm long in cable, trying to enter upper 5m trend on retracement.
The 5700 level and days open level are just above and have held throughout Asia.....IF they do break then its 15 pips up to yesterdays high....good luck....
Trading Levels with WRBs
  • #838
  • Feb 12, 2010 12:53am Feb 12, 2010 12:53am
I'm confused, which is nothing new. I bring up active threads and it's now Feb 12 2010 but the entries are dated Jan 7 2010! HELP!
  • #839
  • Edited 1:07am Feb 12, 2010 12:56am | Edited 1:07am
Quoting Islander
The 5700 level and days open level are just above and have held throughout Asia.....IF they do break then its 15 pips up to yesterdays high....good luck....
Yep, price seems respecting it with long upper wicks on 1m. Got out for 10 I think I'm not looking for big trades, I'll try to enter with good R/R and quickly bank pips near important levels to stay flat and try to objectively evaluate what's going on.

EDit: Sold cable, because it's not rallying when euro does and broke 1m 30ema. Now also kind of double top on 1m. Edit: n1, banked 16 at 4h pivot and .236 fibo of yesterday's range.
  • #840
  • Feb 12, 2010 12:58am Feb 12, 2010 12:58am
Quoting okrutny
Yep, price seems respecting it with long upper wicks on 1m. Got out for 10 I think I'm not looking for big trades, I'll try to enter with good R/R and quickly bank pips near important levels to stay flat and try to objectively evaluate what's going on.
Well done....I've just banked a couple off a long €.......I agree, bank what the market's giving.....and that's not a lot this morning.....http://cdn.forexfactory.com/images/icons/icon8.gif
Trading Levels with WRBs
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