The London Open

[FX Pimp]

Morning all.

Well, a pretty reasonable day yesterday with EURUSD & GBPUSD & Gold all falling back through the 60m 20ema's.
Manage to take a little 1-2-3 in the afternoon on both FTSE (courtesey of the Lobster) and USDJPY which did eventually recover 75 pips on the back of stronger USD.

So, what's the theme of the day?
Well, looking at the bigger picture on the Crude and Gold, these are looking like just little retracements in a strong uptrend, and, as we discussed yesterday, do we really want to be selling these two heavily against the longer term trend ? I don't think so, but at the same time they look weak on the short-term. Who can you beleive; who can you trust?

Euro is looking weak but with much better than previous German retail sales expected out, that could change in an hour. I must add though, last month they came out at -0.6 and this month they expect +0.8. Quite a bit of difference. It would be interesting to see them come in slightly better than last month, at say 0.0 say. It would be better than previous and yet miles off ??? hmmmmm

I've just gone short EURJPY at 167.14 , so lets see what occurs there.
Back onto the Euro, technically it's set for a fall. Or is it? Yes it's below the 60m 20, but above the 4hr. My 4hr says go long whilst my 15m is whispering go short.

I give up.

[FX Pimp]

Out at 166.68. Niiiiiice !!

Pips before my 1st coffee and with ZERO drawdown. Love it !

[Jeremy_W]

Great Trade Pimp Man

I was watching it but a little slow on the trigger and then Bammmm. Off it went.

Great Trade..

Jeremy

[Jeremy_W]

Lets hope the Yen's retrace and give us another chance today..
Unlike yesterday???!!!

Jeremy

[FX Pimp]

Some great trades today guys.
See how important the bigger picture is?
Dan always says this, and now I am saying it. Always always use the new strategy as an entry, but dont rely on it as a 'stand alone system'
Gold looked weak on that and strong on the 4hr. Who do you trust? Always the higher timeframe !

Personally, I have 2 profiles in MT4. On one screen I have EURUSD & GBPUSD 5m and 15m tiled, then on another profile 60m and 4hr tiled. Oooooooh it's good. It's real good. Try it, you might just like it.

Good day to you.

[Dan007]

Good morning all

Well no surprise, Crude and Gold remain bid today and USD weakens further…The Indices remain exceptionally weak and their trends continue down.

There are many opportunities out there and make sure you are patient and wait for the correct setups on the CCI’s before jumping in. A very positive room today and many making 30 + pips and some novices making over 100 pips which is fantastic to see. Well done to you all…

The Indices started to move very early today with a few entering at 11,350. Thats over 100 pips lower…

The DAX fell and many entered at 6,450..We are now trading at 6,350… Remember to use the CCI’s to keep u in the trades.

The FTSE was called a short at 5,600 and again we are trading at 5,500 now… Where next i ask!!! 5,000???

The Crude was a fantsic call today with many making over 50 + pips here from 141.10…Its easy looking back but what a bid market… Now trading at 142.50.

Hemal called GOLD brilliantly today and waited for the confirmation of a 123 trade…926.50 as an entry and an exit at 930.00..Excellent trade.

Cable got away from us this am and we were waiting for a 123 long play.. This never materialised but when the currency moved over 110 pips to the 2.000 figure, a cheeky short was taken by Cako and Hungry Horse for 30 - 50 pips back down..Well traded guys…

Other than that, USDJPY and EURJPY went out the blocks vvv early and a few held the positions in the am for small pips..

Overall a great day and to see novices make 100+ pips today has given me a huge boost. This is what it is all about and i am so happy for u all.

Excellent work.

See you tomorrow.

Dan007

[FX Pimp]

Good morning all.

A very good day overall, yesterday. A lot of action in the afternoon, seeing USDJPY bouncing off the weekly 20 and EURUSD off the daily.
Will the recover ? Good question. It looks as if EURJPY wants to, yet doesn't look like USDJPY is having any of it, even though it's broken through the 60m 20 it's still looking weak on the 4hr chart. Will that drag EURJPY about? Yes indeed, so a mixed bag there.

Gold & Crude still very bid with my overall $1000 target getting ever closer on Gold. Seems like crude was tiring a bit yesterday, but highly likely a little resting period before a huge drive today.
All my moving averages are in a close proximity again so don't be surprised to see this at $145 today.

Just taken a little short on USDJPY as we speak 105.95 so I'll submit this quick and then come back with the edit button to finish off.
Not expecting huge moves but with a stop at .10 I'm not going break the bank either.
Euro looking for that 1.60 today if Trichet says the right things at 8:15.

Not overly interested in cable and will let Monkey-boy deal with the Indices in the room.

Have a great morning.

[rockdrive]

Hi Team London,
What an excellent couple of days.....shame I have been unable to participate. Gold was amazing yesterday. Will, as Le Pimp suggest, Gold reach the heady $1000 levels again? Have fun today. I shall be thinking of you......Bon Pips,

Suit You Rockie!

[FX Pimp]

took a small hit on the $yen this morning. It didn't pull EURJPY around but quite the opposite with EURJPY beginning another upward march.

Still only a 11 pip loss which is nothing to worry about. That's just trading.
As you can see in previous posts. We get it right most of the time, just not ALL the time. It's all about maximizing winners and minimizing losers !

Now looking for a 1-2-3 to short Gold IF crude carries on down and a possible long position on the DAX.

More later

[FX Pimp]

Originally Posted by FX Pimp

took a small hit on the $yen this morning. It didn't pull EURJPY around but quite the opposite with EURJPY beginning another upward march.

Still only a 11 pip loss which is nothing to worry about. That's just trading.
As you can see in previous posts. We get it right most of the time, just not ALL the time. It's all about maximizing winners and minimizing losers !

Now looking for a 1-2-3 to short Gold IF crude carries on down and a possible long position on the DAX.

More later

Well a couple of nice little trades to put some pennies back in the tin.
Gold 1-2-3 netting +40 and DAX also netting a quick 40.
Not interested in staying in any longer as I feel that Crude could well find some support off the 4hr 20 at $140.85 and as I said this morning, with crude inventories out later, wouldn't be surprised to see this up at $145.00 very soon.
On the other hand., if crude does fall through the floor this afternoon and the 4hr 20 does not hold up, then it might be a good DOW day.