Trading is as simple as ABCD

The option is there to wait until the range is broken and see if there is a pull back to test the SR level. Monday mornings can be a bit strange and I'm not doing anything yet.

Yep hear you loud and clear Mr V.

Now just after the LO and GBP weakening I'm more interested in these moves if I get a sensible pullback but like yourself not in any mad rush

Now its all EUR

Nothing to do with West Germany winning the world cup is it????

The majority of my research of in/around LO on Monday mornings was based on the majors. As you see gu signals a sell and reverses sharply (classic Monday morning) but euraud gives a signal and is again steady. Have for a while been looking at euraud and getting the feeling that if its a signal some perceptions from the majors don't apply.

PS the ma's are 50/100 lwma.

Oh but I would stick to rules on size of run, the pre US open quiet time and London close.

Yep EURAUD today becos EUR was strong across the board plus its pullback looked cleaner than the other contenders, now just have decide when to take profit, this is harder for me than entries if I'm honest.

Just don't know when to say enough is enough, always imagine I've caught the days 100 pip run!!!!

Fed up with watching my profits disappear so decided to take profits today as it tested Fridays high, so watch it fly now!!!

But if it does I will catch the next break and retest of yesterdays high and if it doesn't at least I've banked some profit today.

Re-entry for me was between ej and euraud, I'm in the latter (a few pips worse than I should have entry around 4505 and I got in 4510) so I'll give this one little room and live with the result.

Missed this on gbpchf just after LO. Another perfect system trade.

Great entry much better than mine.

EURAUD struggling at 15 level, if it does go through W M3 1.4524 and W R1 1.4555 might be nice targets.

Yes and I saw that break and retest of the 100sma and the 100lwma change colour so the B&R of 1.5275 was tempting but the other GBP pairs didn't agree so I let it go , the EUR was strengthening across the board too so the higher probability for me but as always the one you leave always goes further or is that the "You should of seen the one that got away" psychology???Anyway nice pullback setting up on GBPCHF now but its close to its ADR??? 48 against 55?? Shouldn't really go for it but its looking like a break and retest lining up and maybe a retouch of 100sma??? Hmmm food for thought.

Hmmm is it worth another entry on EURAUD or switch to GBPCHF ???

What this last week or so is showing me is that I am way out of practice in the 1 min trading thing, going to have to get a lot quicker and be prepared to be in more than 1 trade at a time.

I exited euraud with a few pips on the last pullback.

Had another little pop at euraud but didn't go so pulled it for a pip loss, starting to realise that if your trade plan doesn't work on the 1 min then GTFO asap don't sit around hoping. Either the pullback I've taken goes or I get out!!

Not always easy though especially when they then go your way. But looks like I got it right this time, not the entry the quick exit.

Its now coming back to retest its previous high but we have had a failed drive so all a bit suspicious and the 15 min CCI is sloping down meaning its losing its 15 min momentum too.

all together not looking like going much higher, this 1.4506 retest of last high is its last hope for up.

Ok so EUR weakening a bit matbe just taking a rest b4 next drive but now GBP strength coming back and as its just after the LO maybe one of these is the runner for the morning???

Nice strong pullbacks, but are they too strong???

Plenty of ATR left too so if they turn could be a run here.

Most pairs have had a 50 pip move in and around LO, often that will be it for a while, we'll see. But many pairs have given solid system entries and like euraud the first signal ended up being a 40 pip move (85/15 type trade), but have now give 3 signals in the move.

If (like me) you haven't banked a lot this morning the risk of entry starts going up massively when looking for the 4th entry in session. So likely I'll step away for a bit.

Most pairs now wrong side of ma's for me to consider trades as the cci210 has not yet flipped. So there are no system set ups at the moment. No problem, this morning (yet again) shows that there are profitable system trades all over, now I have to sharpen my 1 min wits considerably.

Yep agreed I've even put red vertical lines on my charts at 10.30 for a "no more entries" warning.

Looks like this GBP strength isn't following through either so nothing there to trade.

Just got another 30 mins of my entry window left then thats it for me too for LO.

Fortunately have a 10 pip profit at mo too so that makes a pleasant change Mr V.

Well thats it for me London open over as I'm not taking any new entries after 10.30 anymore gonna pop out to work for a couple of hours but get back in time for the New York open hopefully.

Quick review of todays open for me.

Interesting open with the strength swinging about a bit so hard to catch anything really becos no sooner had they setup then the strength swung somewhere else. Of course the good news is dispite a rangy LO, I didn't have any real losers just one small 1 pipper when EURAUD didn't bite second time round. Even better news I had a 11 pip winner so made 10% this morning. Very unusual for me to come out ahead, but I think I know why.

I've been studying my trading over the weekend and had a great chat with Martin, my mentor, on Friday and from it all I've decided how I'm going to trade these market opens on the 1 min.

My goal is to follow the money as it comes to the table.

Therefore I just follow the TT indy and wait for it to be dominated by one currency or the other so say 5 of the 8 pairs are GBP or EUR. Then I know theres money buying or selling off that currency. Have a look at the top 4 pairs and decide on the best entry setup, break and retest of one of my key levels. Take profit on the first run eg 6,7 10 pips whatever it gives you then wait for the next setup. If it continues and appears in the 5 min TT too then maybe I've caught the London breakout and look to hold and trade the 1 min trend until it ends

Let me explain my thinking there. Up to now,in my mind, I've always thought I've caught the runner for the day yet 9 times out of 10 its not and I end up either losing or coming out at BE. Now the reason that happens in my opinion is that I'm are buying an overbought pair or selling an oversold pair which is great when they stay overbought or sold but unfortunately thats only gonna happen 7 times out of 10. Therefore the higher probability is after its first(wave 3) or 2nd push(wave 5) its going to go the other way.

So from now on I will bag the first move 100% then if it continues to move the same way, stays overbought/sold then I will look to hold and trail until it ends, will use the slope change of the 100lwma as my exit.

This way if we have mornings like this morning I am going to bag maybe 2 or 3 small winners but not only that if we do get a runner then I will also get on that too,after banking its first move.

Well it worked this morning fine so lets see how it goes from here.

Fingers crossed!!!