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  • #761
  • Jan 29, 2014 2:47pm Jan 29, 2014 2:47pm
Quoting stewrigh
Mike, do your COTS reports tell you anything abt coffee? {image}
Nice trend established now? - never could understand the downtrend.

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  • #762
  • Jan 29, 2014 11:31pm Jan 29, 2014 11:31pm
As goes January, so goes the year? If 62 of the last 85 years (73%) are any indication it's just a matter of how bad its going to be.

As a technician do you see anything that could suggest a top, any clues?....anyone?...false breakout?
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  • #763
  • Feb 3, 2014 3:46pm Feb 3, 2014 3:46pm
Long orders on the following
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  • #764
  • Feb 3, 2014 3:48pm Feb 3, 2014 3:48pm
May consider a short pending supportive PA
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  • #765
  • Feb 3, 2014 3:51pm Feb 3, 2014 3:51pm
Paid the price on this one....got in a little early.....may still roll over though?...
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  • #766
  • Feb 3, 2014 3:52pm Feb 3, 2014 3:52pm
Still short this one....
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  • #767
  • Feb 3, 2014 4:01pm Feb 3, 2014 4:01pm
Quoting mypipbull
As goes January, so goes the year? If 62 of the last 85 years (73%) are any indication it's just a matter of how bad its going to be. As a technician do you see anything that could suggest a top, any clues?....anyone?...false breakout?
Ouch.......
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  • #768
  • Feb 3, 2014 5:20pm Feb 3, 2014 5:20pm
Quoting mypipbull
{quote} Ouch....... {image}

Double Ouch MPB. I checked out the 15min chart there were no significant retradements just pure selling

Olu
If you think you can or cannot do it you are correct
  • #769
  • Feb 3, 2014 7:19pm Feb 3, 2014 7:19pm
Quoting Olu
{quote} Double Ouch MPB. I checked out the 15min chart there were no significant retradements just pure selling Olu
Yeah, I'm not even interested in shorting it either as it could be very volatile and that's when technical levels for stop placement are ignored......
  • #770
  • Feb 3, 2014 8:34pm Feb 3, 2014 8:34pm
Quoting mypipbull
May consider a short pending supportive PA {image}
I now have orders to sell a break out of this zone...stop above
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  • #771
  • Feb 4, 2014 10:42pm Feb 4, 2014 10:42pm
Took an equity hit last night of -4%. Whilst happy with the trade action and direction I took and the reasons, I am not happy with the exposure that caused the large number. This came from simply from being overexposed to the same currency across multiple pairs. This is why I must restrict myself to only having a 1% opinion (long or short) on any single currency.
Initially I thought it best to just trade the 4 majors and 3 commodity pairs again but perhaps I can still look at all the crosses and just take the best looking set-up. The joys of forward live trading.
  • #772
  • Feb 5, 2014 4:00pm Feb 5, 2014 4:00pm
Quoting mypipbull
Took an equity hit last night of -4%. Whilst happy with the trade action and direction I took and the reasons, I am not happy with the exposure that caused the large number. This came from simply from being overexposed to the same currency across multiple pairs. This is why I must restrict myself to only having a 1% opinion (long or short) on any single currency. Initially I thought it best to just trade the 4 majors and 3 commodity pairs again but perhaps I can still look at all the crosses and just take the best looking set-up....
Hey Mike, I think thats a good idea.. when you trade the majors it doesn't leave a lot of space with risk on and risk off correlations..
Im flat atm waiting to see what the main bias is..
Memories caught in time but never forgotten
  • #773
  • Feb 6, 2014 1:40am Feb 6, 2014 1:40am
I sold Euro/$, joining bears late but..! I bought GBP/JPY (I know you do only majors, me too, but I have a weakness in front of the dragon). My entry might be a bit too early (as usual), if it fails I will re-join the bulls. Thanks MPB
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  • #774
  • Feb 6, 2014 3:34am Feb 6, 2014 3:34am
Quoting j4d
{quote} Hey Mike, I think thats a good idea.. when you trade the majors it doesn't leave a lot of space with risk on and risk off correlations.. Im flat atm waiting to see what the main bias is..
Hey Ja,
Its a good point...we could be transitioning here?.....not sure yet.
  • #775
  • Feb 6, 2014 3:42am Feb 6, 2014 3:42am
Quoting rehab
I sold Euro/$, joining bears late but..! I bought GBP/JPY (I know you do only majors, me too, but I have a weakness in front of the dragon). My entry might be a bit too early (as usual), if it fails I will re-join the bulls. Thanks MPB {image}
Hey Rehab,
Even the cable looks similar and is very tempting. Looks to be in a good area for a bounce but.....i am licking my wounds a little at the moment.
I need to scale back risk and look at a larger timeframe for a while
Good luck with it
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  • #776
  • Feb 6, 2014 6:37am Feb 6, 2014 6:37am
Quoting mypipbull
{quote} Hey Rehab, Even the cable looks similar and is very tempting. Looks to be in a good area for a bounce but.....i am licking my wounds a little at the moment. I need to scale back risk and look at a larger timeframe for a while Good luck with it {image}
hi MPB, thanks for commenting on my post-appreciated! I have doubt now giving the intraday momentum on the 4H charts, I am cancelling this trade and waiting for the dragon to go down to the boundary of the larger channel then will go with a bounce up. Sorry to disturb.
  • #777
  • Feb 6, 2014 9:12am Feb 6, 2014 9:12am
Quoting rehab
{quote} hi MPB, thanks for commenting on my post-appreciated! I have doubt now giving the intraday momentum on the 4H charts, I am cancelling this trade and waiting for the dragon to go down to the boundary of the larger channel then will go with a bounce up. Sorry to disturb.
Dragon went without me
  • #778
  • Feb 6, 2014 3:26pm Feb 6, 2014 3:26pm
Quoting rehab
{quote} Dragon went without me
You can always buy a pullback......the trade is not void because you 'perhaps' missed the optimal entry.
  • #779
  • Feb 7, 2014 1:40am Feb 7, 2014 1:40am
Quoting mypipbull
{quote} You can always buy a pullback......the trade is not void because you 'perhaps' missed the optimal entry.
Yes MPB, I will wait for a pullback. Thanks.
  • #780
  • Feb 7, 2014 2:46am Feb 7, 2014 2:46am
Quoting rehab
{quote} Yes MPB, I will wait for a pullback. Thanks.
Also, to be honest.....i think the GBP is a bit vulnerable to further downside action with LL and LH structure across a number of GBP crosses.
COT favours as down move and thats what I am expecting.
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