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  • #781
  • Feb 7, 2014 3:18am Feb 7, 2014 3:18am
Quoting mypipbull
{quote} 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.
I agree Mike GBP looks vulnerable, my bias is neutral till further evidence but if i had to place a bias in GJ a short at 168
looks possible ?

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Memories caught in time but never forgotten
  • #782
  • Feb 7, 2014 3:27am Feb 7, 2014 3:27am
The channel is well formed since a long term, of course anything can break, but the bounce yesterday from the channel boundary was strong.
  • #783
  • Feb 7, 2014 4:00am Feb 7, 2014 4:00am
Quoting rehab
The channel is well formed since a long term, of course anything can break, but the bounce yesterday from the channel boundary was strong.
if you look at the daily 100ma it catches a lot of previous moves so it bolsters your analysis, your call maybe very good...
Sentiment just tells me wrongly or rightly its just one of those times where i need to take a step back and let this particular
period/scenario play out...See what the fallout is..

I wish you all the best in your long play though rehab. .
Memories caught in time but never forgotten
  • #784
  • Feb 7, 2014 7:13am Feb 7, 2014 7:13am
Thanks a lot for your comment. Im flying soon for holidays and wont look at the chars till. COME BACK.. It will be surprise surprise! I must say that im not experienced trader and thats why i follow this thread and that of Olu to learn. So plz take m posts with cautions and feel free to comment back, this way i learn. Thanks
  • #785
  • Feb 7, 2014 8:56am Feb 7, 2014 8:56am
Quoting rehab
Thanks a lot for your comment. Im flying soon for holidays and wont look at the chars till. COME BACK.. It will be surprise surprise! I must say that im not experienced trader and thats why i follow this thread and that of Olu to learn. So plz take m posts with cautions and feel free to comment back, this way i learn. Thanks

Enjoy your holiday Rehab. Come back fresh. W all need to take breaks from this business now and again

olu
If you think you can or cannot do it you are correct
  • #786
  • Feb 7, 2014 9:01am Feb 7, 2014 9:01am
Quoting j4d
{quote} if you look at the daily 100ma it catches a lot of previous moves so it bolsters your analysis, your call maybe very good... Sentiment just tells me wrongly or rightly its just one of those times where i need to take a step back and let this particular period/scenario play out...See what the fallout is.. I wish you all the best in your long play though rehab. .

Thanks J4d for you reply. I second the fact that Rehab's calls are usually good. We all just need to get the hang of all the other issues like MM, entry exit psychology etc to make us mean profit machines. Wish you, rehab, myself and all the other thread readers loads of pips. Dont hesitate to contribute any useful material to the thread

Olu
If you think you can or cannot do it you are correct
  • #787
  • Feb 7, 2014 10:17am Feb 7, 2014 10:17am
Quoting rehab
Thanks a lot for your comment. Im flying soon for holidays and wont look at the chars till. COME BACK.. It will be surprise surprise! I must say that im not experienced trader and thats why i follow this thread and that of Olu to learn. So plz take m posts with cautions and feel free to comment back, this way i learn. Thanks
rehab, hope you have a great holiday...
Memories caught in time but never forgotten
  • #788
  • Feb 7, 2014 10:19am Feb 7, 2014 10:19am
Quoting Olu
{quote} Thanks J4d for you reply. I second the fact that Rehab's calls are usually good. We all just need to get the hang of all the other issues like MM, entry exit psychology etc to make us mean profit machines. Wish you, rehab, myself and all the other thread readers loads of pips. Dont hesitate to contribute any useful material to the thread Olu
Hey Olu.. wish you and everyone in the thread a great weekend..
Memories caught in time but never forgotten
  • #789
  • Feb 10, 2014 6:43pm Feb 10, 2014 6:43pm
USD/JPY - Short Orders

Market Structure is bearish LL and LH. We seem to be testing both EMA's after breaking down through them. Today showed some rejection so I am expecting a bit of follow through. COT data showed a Commercial 52w change of -9% and the Large Spec s change of +11%. This is supportive of the fact the participants are continuing to reverse their old positions. So I view this recent rally as a profit taker only NOT a resumption of the old trend.

A break above marked candle voids the trade.
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  • #790
  • Feb 10, 2014 8:16pm Feb 10, 2014 8:16pm
Quoting mypipbull
USD/JPY - Short Orders Market Structure is bearish LL and LH. We seem to be testing both EMA's after breaking down through them. Today showed some rejection so I am expecting a bit of follow through. COT data showed a Commercial 52w change of -9% and the Large Spec s change of +11%. This is supportive of the fact the participants are continuing to reverse their old positions. So I view this recent rally as a profit taker only NOT a resumption of the old trend. A break above marked candle voids the trade. {image} {image}
I have been eyeing this one too MPB. Over the weekend I put up long term charts on my thread and the usdjpy thread that the strength in the jpy might not be done and that usdjpy could go much lower. We'll se how this plays out. The question is this Do you want to take this trade just before Yellen's first speech?

Olu
If you think you can or cannot do it you are correct
  • #791
  • Feb 11, 2014 2:54pm Feb 11, 2014 2:54pm
Quoting mypipbull
USD/JPY - Short Orders Market Structure is bearish LL and LH. We seem to be testing both EMA's after breaking down through them. Today showed some rejection so I am expecting a bit of follow through. COT data showed a Commercial 52w change of -9% and the Large Spec s change of +11%. This is supportive of the fact the participants are continuing to reverse their old positions. So I view this recent rally as a profit taker only NOT a resumption of the old trend. A break above marked candle voids the trade. {image} {image}
Order cancelled
  • #792
  • Feb 11, 2014 6:52pm Feb 11, 2014 6:52pm
EUR/USD - Short Orders
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  • #793
  • Feb 12, 2014 5:09am Feb 12, 2014 5:09am
Quoting Olu
{quote} Thanks J4d for you reply. I second the fact that Rehab's calls are usually good. We all just need to get the hang of all the other issues like MM, entry exit psychology etc to make us mean profit machines. Wish you, rehab, myself and all the other thread readers loads of pips. Dont hesitate to contribute any useful material to the thread Olu
Thanks a lot Olu for your kind words, you always give me support.
i saw the dragon has advanced up and finally Gold is making its move up. I am out of the market looking for a chance to jump in. Cheers everybody
  • #794
  • Feb 12, 2014 6:28am Feb 12, 2014 6:28am
Quoting mypipbull
EUR/USD - Short Orders {image}

I am short this one already MPB. Fundamentally and technically price should not be here at all

Olu
If you think you can or cannot do it you are correct
  • #795
  • Feb 12, 2014 6:58am Feb 12, 2014 6:58am
Hi guys
what's your thought on gbpusd?
  • #796
  • Feb 12, 2014 7:34am Feb 12, 2014 7:34am
Quoting trexy123
Hi guys what's your thought on gbpusd?
Hi Trexy

gbpusd is going to roll over soon IMHO. Can't post a chart as I am at work but based on the dollar index I am looking for downside action eurusd gbpusd basically all the majors agaist the dollar

olu
If you think you can or cannot do it you are correct
  • #797
  • Feb 12, 2014 10:02am Feb 12, 2014 10:02am
Quoting Olu
{quote} Hi Trexy gbpusd is going to roll over soon IMHO. Can't post a chart as I am at work but based on the dollar index I am looking for downside action eurusd gbpusd basically all the majors agaist the dollar olu
olu thanks! its going up like no tomorrow!
  • #798
  • Feb 12, 2014 11:38am Feb 12, 2014 11:38am
Quoting trexy123
{quote} olu thanks! its going up like no tomorrow!
We'll see what will happen tomorrow
If you think you can or cannot do it you are correct
  • #799
  • Feb 12, 2014 3:17pm Feb 12, 2014 3:17pm
Quoting trexy123
Hi guys what's your thought on gbpusd?
Hi Trex,
Thanks for sharing.
I'm with Olu here. Despite the strength being shown it has yet to make a new high. Buying now is chasing price. Getting long here is relying on the 'greater fool theory' and generally speaking there are not many of those in this business. There are so many big barriers right in front of the cable right now between 1.66 -> 1.7.
Above the 1.7 handle (which is MASSIVE) and I would be more bullish. That's not to say there is not money between here and there but IMO its risky money.

The downside is clear and obvious to me, just have to wait for it to roll over.
  • #800
  • Feb 12, 2014 3:19pm Feb 12, 2014 3:19pm
Quoting rehab
{quote} Thanks a lot Olu for your kind words, you always give me support. i saw the dragon has advanced up and finally Gold is making its move up. I am out of the market looking for a chance to jump in. Cheers everybody
Hey rehab,
I am heavily long gold so this is nice to see. Just be careful with the GBP atm and ask yourself if you really want to buy into this heavy resistance?

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