the year ended with my long on cable which through lack of patience i closed way to early,with a day or so left before month end i traded cable long from the monthly chart as it sat tight against the channel line and a previuos buy zone,anyways thats all history now,looking at the monthly chart its very tight and full of emotion,will it be squeezed down,long term im in the thinking of yes.daily has gone below the channel line and closed back on it,again its a previous buy zone but clearly lacking its previous strenght.
--Wednesday, Jan. 4: Euro-zone December services PMI. ECB 84-day and seven-day dollar operations.
--Thursday, Jan. 5: French bond auction.
--Saturday, Jan. 7: Spanish government deadline for unions and business leaders to agree on labor-market reforms.
--Monday, Jan. 9: Possible meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy in Berlin.
--Wednesday, Jan. 11: ECB seven-day dollar operation.
--Wednesday, Jan. 11, and Thursday, Jan. 12: European Commission visits Danish presidency in Copenhagen.
--Thursday, Jan. 12: ECB interest rate statement and press conference. Spanish and Italian bond auctions.
--Friday, Jan. 13: Italian bond auction.
--Monday, Jan. 16: Troika of international inspectors expected to return to Greece to resume talks on new bailout deal.
--Tuesday, Jan. 17: Spanish T-bill auction.
--Wednesday, Jan. 18: ECB seven-day dollar operation.
--Thursday, Jan. 19: Spanish and French bond auction.
--Friday, Jan. 20: Troika talks in Greece expected to end.
--Monday, Jan. 23: Euro-zone January flash PMI. Euro-zone finance ministers meeting.
--Tuesday, Jan. 24: European Union finance ministers meeting. Spanish T-bill auction.
--Wednesday, Jan. 25: Preliminary data on the Spanish government's annual budget deficit expected around this time. German January Ifo business climate index.
--Thursday, Jan. 26: Italian bond auction.
--Friday, Jan. 27: Italian T-bill auction.
--Monday, Jan. 30: EU leaders summit. Italian and Belgian bond auctions.
--Tuesday, Jan. 31: Ireland's troika of lenders releases its latest quarterly review of the country's bailout. Greece aims to conclude talks detailing new EUR130 billion loan deal, debt-exchange program with private-sector creditors by this date.
--Wednesday, Feb. 1: EUR25.8 billion of Italian BTP bonds due.
i will look to see which way the indicies trade in the near term and also watch the ausd for some weakness.
this is more based on my longer term trading moreso than my scalping but tends to blend in to one.this also being the obvious place to log my thoughts and plans
fts100 being squeezed on my monthly,im being patent for my entry short,if it breaks first channel line were it is presently being squeezed and moves higher to upper channel line around 6000,level ,which forms a h/s i will look for short,but inline with the bigger drop cycle dosnt come into play for months,i cant see how this can remain at these levels with present circumstances.but i can only see how it plays out in jan and firstly this present level,
as posted yesterday ,what would market do on ftse100 at the monthly and daily charts resistence levels,horizontal lines .price gapped up above them by 80 pips on open.thats interesting.will price fill back or move upwards to those horizontals at 6000,all prevailent on daily weekly and monthly,great stuff.
currencies all in positive as you can see by value,apart from usd/cad chf and yen,almost perfect cync at moment,for how i anaylize money flow,interested if cable price heads further up to channel line on 4 hour
took this cable short after strong buying day ,towards end of n/y session.4 hour chart shows price up against the downward chanell line,also previous sell zone,albeit in low liquidity xmas period,yellow box,price topping out on 1 min chart towards close,on a zoomed in 1min chart u can see the trade up chanell it has traded today,so when price stalled went short to ,firstly trade it back into its chanell,secondly put my trade into a positive pip count and watch price during asian session ,should price continue in the up channel the days high will be my exit,if falls to bottom of chanell,around 20 ish level will take some profit and let the remainder run with the 4 hour .
My cable i entered yesterday at 15652 is still in progress,took half my profit at 15620 on the support ,left remainder to run,my stop still above yesterdays high,
my ft100 trade i took this morning still in progress,also taken half profit at 5626,entry 5692,55 pips,2nd half is presently back at my entry area,first profit was taken at the support,not so comfortable with this bounce and other indices p/a
Closing my cable trade at 15483 for 170 pips,2nd half of this trade,i must confess i concidered closing this morning but the aud falling and indies all negative i remained in the trade.
Also closed second half of my ftse100 trade from yesterday at 5633 for 50 pips around same level i took the first half profit yesterday.
I find i minute charts zoomed out show clear exit points,also entry,but i find this prespective very helpful,it almost brings all the time frames as one,
first chart my cable short,clear exit point,and possible long entry
It seems i like this your idea of scalping, i was tinking we co do the scalping together, i have a fairly good account, although account size dont matter in scalping.....do you use fundamentals in tradin, or technicals, i need technical indicators that are 70% correct.....hp to here from you....my email is shegzycool4u at yahoo dot com
It seems i like this your idea of scalping, i was tinking we co do the scalping together, i have a fairly good account, although account size dont matter in scalping.....do you use fundamentals in tradin, or technicals, i need technical indicators that are 70% correct.....hp to here from you....my email is shegzycool4u at yahoo dot com
Ignored
hishegzycool,to answer your question,i am aware of the fundamentals when i trade .i dont use indicators as such.only what you see in my charts,which is s/r levels from all time frames,buy/sell zones,value change across 14 pairs and 8 indicies,and when micro scalping the bid ask price.i think that one dosnt need anything else.
my key indication of how i will trade at a given moment comes from my 14 pairs and 8 indicies value change,if they are all out of sync with each other i can determine that the markets are ranging.so i will trade cable from the support resistence levels within the range.i trade cable because i like to concentrate on 1 pair ,i like to feel its heart beat.whilst trading the range im watching for a leader to take the lead from my 14 pairs,example there may be some bad news from china ,this will effect the aud,and its value will fall,that move in turn will show across all 14 pairs,ranges will break and everything will fall into sync,12 pairs will start to fall,example,euro,pound aud will go down in value against usd,yen 12 pairs will fall only usd cad,usd chf will rise,the money flow is buying dollers and yens,you can determine the strenght of yen or doller in that cross.now what im looking for is the lagging cross,pound,euro,aud,recently its been cable,recently,aud was rising strongly against usd,euro also,pound was lagging,so using s/r levels and a previous buy zone,buy cable on a slightly longer vision,not a scalp.the pound will conform,visible on gbp/eur chart,the trend at present is if doller is rising the indicies fall,this is my basis to look for my trades,
closed cable 09 level for 12 pips,took trade as i missed 2 early gap fills,this one was so clear,price went up to last high,left small price gap,all my pairs strong negative,cable lagging,filled gap at 09,bed time
my ftse trade is still open,will hold and make decision before 9 pm roll,as to wether to hold overnight or take the profit,been side tracked today and have missed my cable short this morning ,marked red box on previous post ,perfect touch and 50 pips missed,heres my updated charts from this morning
closing this ftse short at 5633,at the cost of the etra spread,still 30 pips profit,but very pissed of at not looking at the correct perspective and closing at the 14 level,as you can see on the chart.very obvious,also not being in front of pc for my cable short,ill relook at london open for possible re entry on ftse,made some pips but should have many more.
it seems i closed correctly last night on my ftse,price now back close to my entry.just tipping that diagnal,a little support overnight for the eur indicies,although asian markets flat.im not able to be around for london open today which is were i would be looking for my short if other markets support back to 5619,initially.will see if euro open gives me a entry
