Islander and Medici trade the European open | Page 45 | Forex Factory

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Islander and Medici trade the European open

  • #881
  • Feb 17, 2010 2:32am Feb 17, 2010 2:32am
Gave longs as much rope as I could exited 5805 after 1 min lh.
  • #882
  • Feb 17, 2010 2:59am Feb 17, 2010 2:59am
Quoting Islander
lets see if this support area of yesterdays high, todays open and MR1 ~ 793 holds....
The bounce up off this area put in a LH in cable and so I took an initial sell after the 1 min doji that made the high.....€ made an equal high with Swissy actually going into a LL...
Trading Levels with WRBs
  • #883
  • Feb 17, 2010 3:21am Feb 17, 2010 3:21am
Looking at the volumes during the fast rally yesterday afternoon, we can see that they were lower than in previous moves.....especially during the last wide green candle where the white volume bar was only 2000......this makes me suspect a push up into distribution and then ¿ accumulation? for a big fall......TWT


Pulling a fib from yesterdays low to this morning's high gives 38% = 5742, 50% = 5720 and 61% = 5697 and there are several daily highs from this and last week falling around the 50% level.....

I'm currently short cable, € and GJ........lets see what the news brings....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 16 5pm cable hrly vols.gif Size: 19 KB
Trading Levels with WRBs
  • #884
  • Feb 17, 2010 3:42am Feb 17, 2010 3:42am
I banked some good profits just before the news and then in the spike down to the DP and am now flat having exceeded my daily quota.....

There was mixed news and IMO it will take a little time to digest the small print.....I'm finished for this morning, back for NY....
Trading Levels with WRBs
  • #885
  • Feb 17, 2010 7:19am Feb 17, 2010 7:19am
A retest of the 5800 level with a 1 min spinning top and a 5 m low vol doji - I've taken an initial sell.....
Trading Levels with WRBs
  • #886
  • Feb 17, 2010 7:35am Feb 17, 2010 7:35am
Quoting Islander
A retest of the 5800 level with a 1 min spinning top and a 5 m low vol doji - I've taken an initial sell.....



and banked some pips after it stalled at the 775 level.....
Trading Levels with WRBs
  • #887
  • Feb 17, 2010 9:18am Feb 17, 2010 9:18am
The bounce off the 5750 area went back up to the mid morning highs ~5780 - a 61% retrace......so I sold as it broke back down thru the 75 level, exiting as price retested the days low under the DP......another excellent day, back for FO......
Trading Levels with WRBs
  • #888
  • Feb 18, 2010 1:25am Feb 18, 2010 1:25am
Had a small sell on gu then this one. target is 5625 from Tues low.

And out.
Attached Image (click to enlarge)
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  • #889
  • Feb 19, 2010 12:42am Feb 19, 2010 12:42am
GM - I hope that nobody was holding cable or euro longs ......whilst the Fed's move was mentioned in Helicopter Ben's recent statement, the markets still made a 200 pip sell off...

I sold the break of the 5400 level an quickly banked my pips and now have an initial long. I have the same in euro which has a HL after its earlier spike down to 3442....
Trading Levels with WRBs
  • #890
  • Feb 19, 2010 12:46am Feb 19, 2010 12:46am
Quoting Islander
GM - I hope that nobody was holding cable or euro longs ......whilst the Fed's move was mentioned in Helicopter Ben's recent statement, the markets still made a 200 pip sell off...

I sold the break of the 5400 level an quickly banked my pips and now have an initial long. I have the same in euro which has a HL after its earlier spike down to 3442....

Closed both and banked quick pips....
Trading Levels with WRBs
  • #891
  • Feb 19, 2010 1:03am Feb 19, 2010 1:03am
Good to see you back Islander. Hopefully we see Medici in here soon as well. I took that earlier break of the 5400 level as well because the USD strength/GBP weakness was too good to pass up. Not sure what the market wants to do next so I'm waiting for it to tip its hand for now.

Oh, and if you have a chance to reply to that PM I sent you last week I would really appreciate it. Good trading to all.
  • #892
  • Feb 19, 2010 1:16am Feb 19, 2010 1:16am
I've taken two more buys off HLs, locking in profits quickly and banking quickly too.....
Trading Levels with WRBs
  • #893
  • Feb 19, 2010 1:22am Feb 19, 2010 1:22am
Quoting Auron112
Good to see you back Islander. Hopefully we see Medici in here soon as well. I took that earlier break of the 5400 level as well because the USD strength/GBP weakness was too good to pass up. Not sure what the market wants to do next so I'm waiting for it to tip its hand for now.

Oh, and if you have a chance to reply to that PM I sent you last week I would really appreciate it. Good trading to all.

I know I posted a couple of range indys for you, I'll read your PM again after LO etc....
Trading Levels with WRBs
  • #894
  • Feb 19, 2010 2:23am Feb 19, 2010 2:23am
It was night time for me when the Fed announcement happened. After looking at the charts, I will say that it was no big surprise after all (like any other!!) The 1 m GU chart tells it all. A perfect bear flag/wedge type consolidation with decreasing momentum from 20:15 up to 21:30 GMT.
We tend to overlook these if there are no economic news scheduled...
  • #895
  • Feb 19, 2010 2:28am Feb 19, 2010 2:28am
With W and M pivots holding up so far we are looking for break below and retrace for a trade. Gbp so weak we're not too interested at the mo in buying.
Attached Image (click to enlarge)
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  • #896
  • Feb 19, 2010 2:32am Feb 19, 2010 2:32am
The low so far was in a 5m high volume hammer that hit the 5375 / S2 level......needless to say I bought again.....I also bought € after it retested its lows.....
Trading Levels with WRBs
  • #897
  • Feb 19, 2010 2:40am Feb 19, 2010 2:40am
Quoting Islander
The low so far was in a 5m high volume hammer that hit the 5375 / S2 level......needless to say I bought again.....I also bought € after it retested its lows.....


again, both closed for a few pips on a tight trailing stop.....there may be another spike down, but I'm still looking for a retrace to S1 ~the 5450 level or the 38% ~ 5475.....TWT
Trading Levels with WRBs
  • #898
  • Feb 19, 2010 2:49am Feb 19, 2010 2:49am
Quoting Islander
again, both closed for a few pips on a tight trailing stop.....there may be another spike down, but I'm still looking for a retrace to S1 ~the 5450 level or the 38% ~ 5475.....TWT

and there was, so another buy, stop now to +15

Edit: and closed on stop.....
Trading Levels with WRBs
  • #899
  • Feb 19, 2010 2:53am Feb 19, 2010 2:53am
I also bought € after it retested S1....as I'm now upto my daily quota, I'm taking a break until the UK data at 9:30 gmt....
Trading Levels with WRBs
  • #900
  • Edited 3:34am Feb 19, 2010 3:18am | Edited 3:34am
There is a huge bear butterfly on eur/gbp 15 m chart. Looks like EU will not be able to go up much.
EDIT : the butterfly dissappeared...
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