Trading Levels with WRBs
Islander and Medici trade the European open
- #3,483
- Jan 4, 2012 4:34am Jan 4, 2012 4:34am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
A Happy, Healthy and Prosperous 2012 to all who visit here 
Our past posts have shown how Medici and I have approached trading around the European Opens and I would like to now concentrate on taking more pips out of the European morning's move, rather than focusing on just the opens.....
To this end, I'll post some larger TF charts to help identify larger potential moves, so here's my current daily chart.
The down channel is still holding, but with lower momentum, which MIGHT be year's end related.....TWT
I use the SMA outer bands to high-light areas for potential pull backs. The TVI highlights divergence.
Note the falling volumes into the years end....
Our past posts have shown how Medici and I have approached trading around the European Opens and I would like to now concentrate on taking more pips out of the European morning's move, rather than focusing on just the opens.....
To this end, I'll post some larger TF charts to help identify larger potential moves, so here's my current daily chart.
The down channel is still holding, but with lower momentum, which MIGHT be year's end related.....TWT
I use the SMA outer bands to high-light areas for potential pull backs. The TVI highlights divergence.
Note the falling volumes into the years end....
Trading Levels with WRBs
- #3,484
- Jan 4, 2012 4:46am Jan 4, 2012 4:46am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #3,485
- Jan 4, 2012 4:54am Jan 4, 2012 4:54am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #3,486
- Jan 4, 2012 5:54am Jan 4, 2012 5:54am
- Joined Nov 2008 | Status: Trader | 3,270 Posts
Excellent stuff 
That's the kind of analysis needed to assess the opportunities.
It isn't as easy as it was a few years ago, when focusing on the opens would pay handsomely. So a widened focus to the whole morning session makes sense.
Best wishes to all for the New Year, and happy trading!
That's the kind of analysis needed to assess the opportunities.It isn't as easy as it was a few years ago, when focusing on the opens would pay handsomely. So a widened focus to the whole morning session makes sense.
Best wishes to all for the New Year, and happy trading!
- #3,487
- Jan 4, 2012 6:26am Jan 4, 2012 6:26am
A Happy, Healthy and Prosperous 2012 to all who visit here
Our past posts have shown how Medici and I have approached trading around the European Opens and I would like to now concentrate on taking more pips out of the European morning's move, rather than focusing on just the opens.....
To this end, I'll post some larger TF charts to help identify larger potential moves, so here's my current daily chart.
The down channel is still holding, but with lower momentum, which MIGHT be year's end related.....TWT
I use the SMA outer...
- #3,488
- Jan 4, 2012 7:40am Jan 4, 2012 7:40am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Thanks guys - and all constructive ideas on improving our pip count are welcome
I wanted to post my 5 min chart earlier, but my FXCM platform is giving problems with certain indys not displaying correctly. It seems to be a problem with the range bars EA, which I've had to remove. This is from another broker - also live.
Here, I'm using the xSuperTrend MTF set to 15m. Again, 20 SMA with +/- 30 & 60 pip bands - I will take a good look at Bollingers since so many use them.....
Positive divergence after the 128 pip drop suggests a good time to bank some pips whilst the US traders get started.....I'll watch the Dow and $ for a little guidance....
I wanted to post my 5 min chart earlier, but my FXCM platform is giving problems with certain indys not displaying correctly. It seems to be a problem with the range bars EA, which I've had to remove. This is from another broker - also live.
Here, I'm using the xSuperTrend MTF set to 15m. Again, 20 SMA with +/- 30 & 60 pip bands - I will take a good look at Bollingers since so many use them.....
Positive divergence after the 128 pip drop suggests a good time to bank some pips whilst the US traders get started.....I'll watch the Dow and $ for a little guidance....
Trading Levels with WRBs
- #3,489
- Jan 4, 2012 8:43am Jan 4, 2012 8:43am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
watch those POC levels 
Trading Levels with WRBs
- #3,490
- Jan 5, 2012 1:46am Jan 5, 2012 1:46am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
GM - once again the monthly and weekly pivots held the range, with the strong resistance area around WR 1 at 3066 being tested early on in a high volume doji / pin bar ~30 pips under the upper daily down channel line
Price then turned back south making a low late in the European Session in an ultra high volume semi marubozo at the 2900 level / weekly and monthly mid pivot levels - a Higher Low from the December 29 low.
Will this hold for the start of an overdue larger retracement?? - as ever, TWT
Price then turned back south making a low late in the European Session in an ultra high volume semi marubozo at the 2900 level / weekly and monthly mid pivot levels - a Higher Low from the December 29 low.
Will this hold for the start of an overdue larger retracement?? - as ever, TWT
Trading Levels with WRBs
- #3,491
- Jan 5, 2012 2:14am Jan 5, 2012 2:14am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #3,492
- Edited 3:11am Jan 5, 2012 2:26am | Edited 3:11am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
NB.....
France plans to sell up to EUR 8b in debt today, including securities that mature in 2021, 2023, 2035 and 2041.
I dont know when the results are expected, but this will put a damper on any move before the results......so I'll look a cable and the Aussie - lol just like Medici
PS - closed € for a few, $s heading up and no follow thru after LO.....
France plans to sell up to EUR 8b in debt today, including securities that mature in 2021, 2023, 2035 and 2041.
I dont know when the results are expected, but this will put a damper on any move before the results......so I'll look a cable and the Aussie - lol just like Medici
PS - closed € for a few, $s heading up and no follow thru after LO.....
Trading Levels with WRBs
- #3,493
- Jan 5, 2012 3:46am Jan 5, 2012 3:46am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Elsewhere, its been suggested that EurJpy serves as a leading indicator for EurUsd's moves - but I prefer to watch the Swissy for a USD proxy.
IMO this morning, € was ready to move up, which it did during Frankie's Hour, only to reverse after the poorer than expected German Sales data which came out at 8am GMT - the LO. Here Swissy led the way with $ strength showing in the +ve divergence and solid blue SuperTrend and a bullish engulfing candle. Later € made up its mind and headed south into new lows and I banked after S1 was hit in a high volume semi hammer....
The hourly candle just closed had ultra high volume and some downside wick / tail - so buyers coming in, just above the weekly S1....last weeks low was on low volume.....
IMO this morning, € was ready to move up, which it did during Frankie's Hour, only to reverse after the poorer than expected German Sales data which came out at 8am GMT - the LO. Here Swissy led the way with $ strength showing in the +ve divergence and solid blue SuperTrend and a bullish engulfing candle. Later € made up its mind and headed south into new lows and I banked after S1 was hit in a high volume semi hammer....
The hourly candle just closed had ultra high volume and some downside wick / tail - so buyers coming in, just above the weekly S1....last weeks low was on low volume.....
Trading Levels with WRBs
- #3,494
- Jan 5, 2012 4:21am Jan 5, 2012 4:21am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
keep an eye on what volume is showing......last week's low was on low volume.....yesterdays on ultra high vol and now we have a new wide ranged candle with UHV, followed by a small inside candle, again with UHV....the last must contain plenty of buying or price would have immediatly broken down again......now when do we know about this pesky French Bond Auction?.....
PS - VSA teaches that the volume several bars back shows the way
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1325758162
__________________
PS - VSA teaches that the volume several bars back shows the way
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1325758162
__________________
Trading Levels with WRBs
- #3,495
- Jan 5, 2012 4:33am Jan 5, 2012 4:33am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #3,496
- Jan 6, 2012 2:26am Jan 6, 2012 2:26am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #3,497
- Jan 6, 2012 2:42am Jan 6, 2012 2:42am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
Happy, Healthy New Year to everyone
Hopefully we will see a resolution to the EZ crisis this year and some sense of normality will return to the markets.
I was thinking about my performance over the past few months and the things that used to work for a learner like me that don't cut it any more.
The confidence that comes from showing a profit most weeks takes a battering and then I start tinkering and ..............
Islander, I see you are looking at BBs, I prefer setting the bands at 3 dev, not 2, seems to work better IMO.
Good luck in the New Year, hopefully we can relieve these overpaid bankers of some of their ill gotten gains
Hopefully we will see a resolution to the EZ crisis this year and some sense of normality will return to the markets.
I was thinking about my performance over the past few months and the things that used to work for a learner like me that don't cut it any more.
The confidence that comes from showing a profit most weeks takes a battering and then I start tinkering and ..............
Islander, I see you are looking at BBs, I prefer setting the bands at 3 dev, not 2, seems to work better IMO.
Good luck in the New Year, hopefully we can relieve these overpaid bankers of some of their ill gotten gains
Money grows on the tree of persistence
- #3,499
- Jan 6, 2012 3:32am Jan 6, 2012 3:32am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Happy, Healthy New Year to everyone
Hopefully we will see a resolution to the EZ crisis this year and some sense of normality will return to the markets.
I was thinking about my performance over the past few months and the things that used to work for a learner like me that don't cut it any more.
The confidence that comes from showing a profit most weeks takes a battering and then I start tinkering and ..............
Islander, I see you are looking at BBs, I prefer setting the bands at 3 dev, not 2, seems to work better IMO.
Good...
Expecting little action, I've dropped back to the 1m for a couple of hours and the run up after LO pushed up out of the box, the top of which is now potential suport.....as I've banked a few, I'll call it a morning and wait for NFP.....
Trading Levels with WRBs
- #3,500
- Jan 9, 2012 2:45am Jan 9, 2012 2:45am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs