Islander and Medici trade the European open | Page 111 | Forex Factory

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Islander and Medici trade the European open

  • #2,201
  • Aug 24, 2010 5:19am Aug 24, 2010 5:19am
I returned to my screen to see another test of the MS3 level - actually a HL - and so I took a quick buy, exiting in the push up to the S2 / 5425 level that was support earlier.

Now that the 5m 30ema has turned up I'm looking to buy any pull back towards it and the 00 level, hoping then that the 25 level breaks and allows a run up towards Friday's low at 5560 as mentioned earlier by Medici....
Trading Levels with WRBs
  • #2,202
  • Aug 24, 2010 5:23am Aug 24, 2010 5:23am
Quoting Islander
I returned to my screen to see another test of the MS3 level - actually a HL - and so I took a quick buy, exiting in the push up to the S2 / 5425 level that was support earlier.

Now that the 5m 30ema has turned up I'm looking to buy any pull back towards it and the 00 level, hoping then that the 25 level breaks and allows a run up towards Friday's low at 5560 as mentioned earlier by Medici....
Same plan here... There's a barrier option at 1.26 in Euro which might get busted pushing cable down too, so better watch Euro at the same time.
  • #2,203
  • Aug 24, 2010 5:36am Aug 24, 2010 5:36am
I've got 3 monitors with 1m, 5m & 15m charts of both cable & euro, so with the OneClicker I can quickly place trades on either, both with preset stops and TPs.

I got my pull back in cable, IMO due to €s drop, so I hope the bl**dy thing doesnt test that option barrier.....
Trading Levels with WRBs
  • #2,204
  • Aug 24, 2010 6:13am Aug 24, 2010 6:13am
2603 was Huuuge! Hahah.. I had a feeling looking the 50% would be good for a touch trade, but that was just damn hot!

Islander, the three screens are they all split screen using one computer?

Cheers!
  • #2,205
  • Aug 24, 2010 6:41am Aug 24, 2010 6:41am
Quoting Sim
2603 was Huuuge! Hahah.. I had a feeling looking the 50% would be good for a touch trade, but that was just damn hot!



Cheers!
Indeed! I got a few pips there too Quick to collect them in view of the barrier.
  • #2,206
  • Aug 24, 2010 6:51am Aug 24, 2010 6:51am
You may want to take a look at Aussie. It has broken the key level at 8846-50 in recent trade. If the equitiy markets head down this one may have more down-side that Euro and cable. Downside looks a bit exhausted at the moment, though.
  • #2,207
  • Aug 24, 2010 6:54am Aug 24, 2010 6:54am
Quoting Sim
2603 was Huuuge! Hahah.. I had a feeling looking the 50% would be good for a touch trade, but that was just damn hot!

Islander, the three screens are they all split screen using one computer?

Cheers!
They could be, the software supports 3 monitors, but I run a laptop too for my backup 'puter as we get a fair number of power cuts here.

I finally banked a few pips off my cable long, had a bit of lunch and now see a LH, but as its close to the NY open, I'll wait.....
Trading Levels with WRBs
  • #2,208
  • Aug 24, 2010 7:00am Aug 24, 2010 7:00am
Quoting Islander
They could be, the software supports 3 monitors, but I run a laptop too for my backup 'puter as we get a fair number of power cuts here.

I finally banked a few pips off my cable long, had a bit of lunch and now see a LH, but as its close to the NY open, I'll wait.....
Wise, I think. This seems to be dollar buying on risk aversion rather than cable selling.
  • #2,209
  • Aug 24, 2010 7:15am Aug 24, 2010 7:15am
Just noticed that the thread has had 100,000 views. Only about a dozen or so trading journals have that.
  • #2,210
  • Aug 24, 2010 7:43am Aug 24, 2010 7:43am
Quoting medici
Just noticed that the thread has had 100,000 views. Only about a dozen or so trading journals have that.
Good to know that our hard work is appreciated

Also, well done on joining the 10v club
Trading Levels with WRBs
  • #2,211
  • Aug 24, 2010 7:52am Aug 24, 2010 7:52am
Quoting Islander
They could be, the software supports 3 monitors, but I run a laptop too for my backup 'puter as we get a fair number of power cuts here.

I finally banked a few pips off my cable long, had a bit of lunch and now see a LH, but as its close to the NY open, I'll wait.....
That paid off after NYO in a swift drop to retest the days low.

At the retest there was clear bullish CII divergence on the 5 min and 2 sets of tweezers on the 1 min - more than sufficient reason to buy.....later, the wider ranged candle breaking the 00 level didnt follow through, so I exited to look for the next set up....
Trading Levels with WRBs
  • #2,212
  • Aug 24, 2010 7:53am Aug 24, 2010 7:53am
Quoting Islander
Good to know that our hard work is appreciated

Also, well done on joining the 10v club
Yes, it must be or people would stay away, I suppose.

Haha. Thank you.
  • #2,213
  • Aug 24, 2010 7:54am Aug 24, 2010 7:54am
I need opinions on this one.
Do you think my decision to long g/u here after NY open then it formd double bottms with a pin, then i took a long, i already took half off so my position is 'free' now.
My thinking was, if its going down more it needs to form divergence and make higher high, or it already formd double bottom with divergence to go higher for the day, either way its going up for now.
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  • #2,214
  • Aug 24, 2010 7:55am Aug 24, 2010 7:55am
Not EU , not GU ... but EY short
(hope it's ok to post it)
Took the break out of S3 after NY opened .

Must practice to take trades as price exceeds the 3sd ,
even for a quick scalp ...
Long in this case, it happens so fast and... I wasn't ready
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  • #2,215
  • Aug 24, 2010 8:00am Aug 24, 2010 8:00am
Quoting Islander
That paid off after NYO in a swift drop to retest the days low.

At the retest there was clear bullish CII divergence on the 5 min and 2 sets of tweezers on the 1 min - more than sufficient reason to buy.....later, the wider ranged candle breaking the 00 level didnt follow through, so I exited to look for the next set up....
Well done Today should provide plenty of opportunities. DJIA looks to be opening 100 points or so down, and equity folks like to close gaps. So maybe some long opportunities in the short term.
  • #2,216
  • Aug 24, 2010 8:04am Aug 24, 2010 8:04am
Quoting CoffeeDrinke
I need opinions on this one.
Do you think my decision to long g/u here after NY open then it formd double bottms with a pin, then i took a long, i already took half off so my position is 'free' now.
My thinking was, if its going down more it needs to form divergence and make higher high, or it already formd double bottom with divergence to go higher for the day, either way its going up for now.

Good trade! With the general uncertainty I would take all off while I have it.

As for the rest of the day, the equity markets rule. If they go down. dollar goes up and vice versa. News at 3pm that may set things off one way or the other.
  • #2,217
  • Aug 24, 2010 8:05am Aug 24, 2010 8:05am
Quoting david4u
Not EU , not GU ... but EY short
(hope it's ok to post it)
Took the break out of S3 after NY opened .

Must practice to take trades as price exceeds the 3sd ,
even for a quick scalp ...
Long in this case, it happens so fast and... I wasn't ready
Except that in yen pairs I wouldn't fade spikes down. They tend to go a bit further than you think, and then a bit more.
  • #2,218
  • Aug 24, 2010 8:24am Aug 24, 2010 8:24am
Quoting CoffeeDrinke
I need opinions on this one.
Do you think my decision to long g/u here after NY open then it formd double bottms with a pin, then i took a long, i already took half off so my position is 'free' now.
My thinking was, if its going down more it needs to form divergence and make higher high, or it already formd double bottom with divergence to go higher for the day, either way its going up for now.

I guess that you already know my answer

I did buy the pull back and now I'm waiting for what I call NYO 2 - the opening of thr NYSE.....
Trading Levels with WRBs
  • #2,219
  • Aug 24, 2010 8:43am Aug 24, 2010 8:43am
Quoting Islander
I guess that you already know my answer

I did buy the pull back and now I'm waiting for what I call NYO 2 - the opening of thr NYSE.....
NYO2 wht you mean like e/u yesterday basically a retest then the move??
  • #2,220
  • Aug 24, 2010 8:58am Aug 24, 2010 8:58am
Quoting CoffeeDrinke
NYO2 wht you mean like e/u yesterday basically a retest then the move??
Its more a pick up of activity......look over a few days of charts and you'll see how many moves start after this time......the first activity around the old open of the bond pit - 8:10 est or the 8:30 news and then a lull till 9:30 - 10am est.....
Trading Levels with WRBs
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