Islander and Medici trade the European open | Page 72 | Forex Factory

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Islander and Medici trade the European open

  • #1,421
  • Apr 21, 2010 2:13am Apr 21, 2010 2:13am
The high mentioned in my previous post held with a LH 10 mins before LO - a good heads up to take a short or at least have your short order open for LO......another potential 40 pips from that one.....

The drop has halted - for now?? - at the support area of the DP / days open and all of my MAs have rolled over.....
Trading Levels with WRBs
  • #1,422
  • Apr 21, 2010 2:18am Apr 21, 2010 2:18am
Looking at the 5 min chart, the LO drop was all in a wide ranged maubozo - I'm watching the bounce for another entry.....the 50% is at 5385 - previous support......the 30ema / 38% @ 5379......
Trading Levels with WRBs
  • #1,423
  • Apr 21, 2010 2:23am Apr 21, 2010 2:23am
Quoting Islander
The drop has halted - for now?? - at the support area of the DP / days open and all of my MAs have rolled over.....
Dealer tricks, I think, with people accumulating at lower levels. I bought on that dip.

Edit: And as you said, the Euro is the drummer we're dancing to.

Edit 2: Next level to watch is 3420 in the Euro if 3427 doesn't hold.
  • #1,424
  • Apr 21, 2010 2:28am Apr 21, 2010 2:28am
Potential entries......remember to keep an eye on €.....http://cdn.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: apr 20 cable 1m folo.gif Size: 27 KB
Trading Levels with WRBs
  • #1,425
  • Apr 21, 2010 2:35am Apr 21, 2010 2:35am
Quoting medici
Dealer tricks, I think, with people accumulating at lower levels. I bought on that dip.

Edit: And as you said, the Euro is the drummer we're dancing to.

Edit 2: Next level to watch is 3420 in the Euro if 3427 doesn't hold.

Market profile since the US close puts €s high volume POC level at 3423.....

BTW, nice buy off the DP after the LO drop......I missed it
Trading Levels with WRBs
  • #1,426
  • Apr 21, 2010 2:40am Apr 21, 2010 2:40am
Quoting Islander

BTW, nice buy off the DP after the LO drop......I missed it
Thanks, my rule is to look for a pullback in the first/second 5m candle after 8am and then enter when orders are hit.

The high so far this hour is the 50% session (6am onwards) level.
  • #1,427
  • Apr 21, 2010 2:54am Apr 21, 2010 2:54am
Quoting medici
Thanks, my rule is to look for a pullback in the first/second 5m candle after 8am and then enter when orders are hit.

The high so far this hour is the 50% session (6am onwards) level.
and you wont be surprised to know that it hit my sell limit in a 5 min red shooting star.....now for the news......

Claimant Count Change & MPC Meeting Minutes
Trading Levels with WRBs
  • #1,428
  • Apr 21, 2010 3:03am Apr 21, 2010 3:03am
Quoting Islander
....now for the news......

Claimant Count Change & MPC Meeting Minutes
Should be interesting in view of the recent rise in inflation.
  • #1,429
  • Apr 21, 2010 3:06am Apr 21, 2010 3:06am
Quoting Islander
and you wont be surprised to know that it hit my sell limit in a 5 min red shooting star.
Nope. Well done I, for one, am only playing the long side today.
  • #1,430
  • Apr 21, 2010 3:12am Apr 21, 2010 3:12am
Closed part of my last sell for a few pips.....a HL and news soon.....
Trading Levels with WRBs
  • #1,431
  • Apr 21, 2010 5:28am Apr 21, 2010 5:28am
Quoting medici
Nope. Well done I, for one, am only playing the long side today.

Nicely done....I got a few during the news spike and have now resumed selling.....including €...several bearish articles around today, for me its not if, but when it heads south....
PIIGS: Professor Roubini Still Bearish

Professor Roubini says the EU/IMF loan package will not solve Greece’s problems. In an article on CNBC quoting Roubini’s web page.
“These issues within the EZ stem primarily from a loss of competiveness, high wage growth and labor costs which outstripped productivity, undisciplined fiscal policies and, crucially, the appreciation of the euro between 2002 and 2008.”
Roubini says the bailout will not work because it does not address these problems.
Professor Roubini of course called the Global Financial Crisis in 2007 with Larry Kudlow flippantly writing off his comments.
Trading Levels with WRBs
  • #1,432
  • Apr 22, 2010 12:59am Apr 22, 2010 12:59am
GM - the pre FO move was late and up off the MR1 / 5425 confluence - also the still positive 5m 30 ema. So far the volumes remain low and we have put in a new high for the move - by 9 pips.....I've banked a few to start the day....
Trading Levels with WRBs
  • #1,433
  • Apr 22, 2010 1:13am Apr 22, 2010 1:13am
A HL off the 150 ema so long again to see where this goes into mid FH......
Trading Levels with WRBs
  • #1,434
  • Apr 22, 2010 1:19am Apr 22, 2010 1:19am
GM. As much as I dislike breakouts, this one was to go to say no to
  • #1,435
  • Apr 22, 2010 1:25am Apr 22, 2010 1:25am
5465 is the 161.8% externsion of the 5204 to 4780 drop. A break should open up for a journey to 5550. Might not see that before the news at 9.30.
  • #1,436
  • Apr 22, 2010 1:31am Apr 22, 2010 1:31am
I banked my pips after the wider 1 min candle to the high didnt follow on.....also, € put in a LH at its 3400 level.

On the 5 min chart, the high was in a high volume candle with a considerable upside wick, so some selling coming in.....
Trading Levels with WRBs
  • #1,437
  • Apr 22, 2010 1:37am Apr 22, 2010 1:37am
Quoting Islander
I banked my pips after the wider 1 min candle to the high didnt follow on.....also, € put in a LH at its 3400 level.

On the 5 min chart, the high was in a high volume candle with a considerable upside wick, so some selling coming in.....
I've taken profit too. Loaded big down at the Asian high so good for today's target.

Btw, I suggest that we start following euro-yen here too. Technically easy to trade, i.e. lots of nice retracements such as down to yesterday's low at about 6.20 this morning, and good moves too. 50+ pips already this morning.
  • #1,438
  • Apr 22, 2010 1:39am Apr 22, 2010 1:39am
An equal high right on time, on lower vol smaller 1 min candles and a lower vol 5m spinning top....closed another long and reversed to a small short
Trading Levels with WRBs
  • #1,439
  • Apr 22, 2010 1:43am Apr 22, 2010 1:43am
Hi,

5471 is the double top on my broker, this is showing as Weekly R1 on my charts.

I thought it should be the same as Islanders as the day starts at close NY.

Maybe the indi I am using is different to yours ?
Money grows on the tree of persistence
  • #1,440
  • Apr 22, 2010 1:45am Apr 22, 2010 1:45am
Quoting ozmacca
Hi,

5471 is the double top on my broker, this is showing as Weekly R1 on my charts.

I thought it should be the same as Islanders as the day starts at close NY.

Maybe the indi I am using is different to yours ?
Might also be broker dependent as cable closed last week at its low, so the pivots will depend on when your broker closes Friday evening.
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