The London Open

[spitfire_412]

Originally Posted by FX Pimp

We use Heiken Ashi CW (attached). It has a thinner body than the norm.
It's very nice. Try it.

Erm... being really thick here - I don't see any attachments ??

[FX Pimp]

Originally Posted by spitfire_412

Erm... being really thick here - I don't see any attachments ??

No, can't attach .exe files. Sorry.

Try forex-tsd.com and search for heiken ashi cw - mtf.

[cako]

Hi guys,

i've seen yesterday that you are posting here.
Good forum and even better thread!!
I see that here are a lot of guys who aren't in the room like i am, that they are paying much of attention on this thread - and what is most important - i'm very impressed with your patience and willing to help everyone here!!!!

Excellent work indeed!!!!

See you tomorrow in the live room (i still can't believe the amount of things i'm learning there every single morning)

Thanx Dan, FX Pimp, Pauly, Gareth, Monkey (lobster) boy and the others, and keep up the good work.

Greetings from Belgrade.

[cako]

Originally Posted by spitfire_412

Mr Pimp & others,

Please see my two screenshots - I'd like to clarify my understanding of when to enter...

On the USDJPY, the first CCI84 to turn positive was quite small. Do you enter during that candle as soon as it turns positive, or immediately following that one so on the open of the candle afterwards?

Same for GBPUSD really - would/did you enter during the candle that eventually closed with a negative CCI84, or on the open of the one thereafter?

Thanks for your input!

SF412

Hi Spitfire,

i believe that there is one afternoon in the week when you can join the room and see how thing are working there in general (at least that was the case about month ago when i was having same questions like you are just now ).

So why don't you PM some of these guys and ask them about that - maybe it will help you.

See you

[FX Pimp]

Good Morning

Hey Cako. Great to see you posting. Sorry about the tech issues you experienced yesterday. Your £100 is in the post.

Well well well. Dollar strength or just a flush-out ??
I opt for the latter. I've been saying for the last few days that Gold & Euro are overbought, and are need of a pullback.
The interesting part is these are no longer overbought and yet are not oversold either. Cable & EURUSD are all now below the 4hr 20's, which have been crossed by the 60m 20's. Gold is also under but the 60m 20 has yet to cross. This could just power up again this morning if it can break up through the 60m and 4hr 20.
Crude is just banging on the door of $150. Will it be today? Unlikely with the U.S holiday, but next week is a strong contender.
As a slightly longer-term play I'd be happy to to go long on any retracement back to the 4hr 20.

Funny how one set of figures can change and how the whole correlation thing can change quickly too. Earlier in the week we saw USDJPY dragging around EURJPY, then we saw EURJPY pulling USDJPY about. Now it EURUSD that is having a tug at EURJPY. Why can't you all leave her alone ?
Yesterday morning's longer-term outlook for EURJPY was bullish and USDJPY looked bearish. Remember I always look at my 60/240m charts first.
Now we have thew complete opposite.
Inteestingly, USDJPY is back above the daily 20. I wonder how long she can sustain that. The 4hr CCI indicates overbought levels, but the 60m 20 is popping up and offering some support as we speak.

Onto the smaller picture with our 5/15m set-up.......

If the trend is your friend then you need to wait for pullbacks before shorting cable Euro or Gold, but be careful. I'm not convinced these will continue to fall. Non Farm numbers were still worse than expectation and Euroland did put the rates up. HOwever, if we're to trade what we see and not what we think, then shorts would be the way forward.

I'm waiting for a direction from Crude & Gold, but EURJPY looks like a recovery mission might be in the making IF the 15m 20 holds and IF the 60m and 4hr 20's break. Would like to see my little 84 giving me some guidance, which is almost there. With EURUSD retracing and USDJPY looking stable at the moment then that would be my most likely candidate for later IF it can break 168.00.
If Gold, Cable & EURUSD can get past their respective 60m 20ema's then that would give rise to an 84CCI in positive territory and little opportunities may present themseves. I'f the 0.0 lines of the 84's are rejeced and these 3 start to fall again I'll be putting my faith in my 21CCI to get me back in.

From tomorrow I will refer to CCI's opposed to 20ema for the sake of keeping these posts simple to understand. The 20ema is the same as the 21CCI 0.0 line but will try to stick to the script so as not to confuse.

Should be an interesting morning with Pimp & Hippo-boy at the helm.
Please come back 007. We were only joking !

Top o the marnin'

[Dan007]

Have fun today guys...

Off to the beach for a late breakfast.

Dan007

[FX Pimp]

The trend was most certainly the friend this morning with Gold, EURUSD & Cable continuing down.
I got caught out with a small loss on EURJPY, which looked like it was breaking up, but with the 60m 20ema below the 4hr 20ema I should have only been looking for shorting opportunities. That's what happens when you try and buck the trend.
Managed to play it down from 167.65 to .30 so recovered the losses and made a little profit. Also scopped a little bit on the GBPUSD short and the FTSE & Dax trades that the Lobster & I were dicussing with the group.

Flat now and looking forward to a well deserved rest.


Have a good weekend everybody.

Well done Little John & Bigboy for your 500+ pip week on the indices alone. The trend most certainly being your best buddy.

[ajhill]

Hi Pimp,

So do you identify the trend direction as whether your hourly 20 is above or below your 4 hourly 20?

I've been looking at the CCI colours across the range of timescales. Daily, 4 hourlu, hourly and 15 minute. Green is up, red is down.

Had a couple nice 123's on FTSE today, +30.

sadly no spandex this PM . Ney mind, there's always another day.

Tony

[FX Pimp]

Hi Tony,

NO SPANDEX ?? Shocking !!

My main port of call for my trend is my 4hr 21cci at the moment, whereas it used to be my daily 21cci. However, this can be a little bit deceiving at times as we saw this morning with the EURJPY.
It was rather short-sighted of me just referring to the positive CCI's, given that the 60m 20 was beneath the 4hr 20.
Very similar to the golden cross Dan always refers to. If the 50sma on a 60m chart is directly below the 200sma would you be looking for a long?

AS you're aware, we love the CCI 21 and the reason we have the 5m strategy as it is is because each ema represents the 21cci from that time period. We don't have room on one chart for 5 or 6 CCI's.
We can tell though, that if the price is above the 60m ema then our 60m 21CCI will be in the positive without looking at the 60m chart.

Congratulations on the FTSE trades. They seem to be the pick of the bunch now don't they? I don't really trade the Dow, but have had a really good week on the FTSE & Dax.
If we didn't cover such a broad spectrum of instruments, I, like a lot of FX traders in the City, would probably be losing money right now, or making very little. I've only managed about 250 pips on the Forex this week.
This time last year that was an average day !

I hope this helps.

[FX Pimp]

Good evening.

Just thought I'd begin to add a slightly longer-term perspectve on the few instruments we are interested in.

The main player that sticks out to me most is the potential down-side on EURJPY.
She has been a very tricky lady of late getting pulled about by both EURUSD and USDJPY, which as we know, tend to travel in opposite directions.
The CCI on the 4hr chart attached has crossed, the 20ema is below the 50sma there has been a lower high created since continuous higher highs in price and lower highs on the CCI.

Should this pair start to power up through 168.00 then I would have my reservations. But as it stands right now a 40 pip stop for a potential 300 pip play back to the daily 50sma at 165.00 if it starts to turn. Could be a 7/1 shot !!
My main concern is obviously the recent higher lows, which could be indicative of just a bounce back off the daily 20ema but well worth keeping ones eyes on.

That's the best 'value' opportunity I see. Not the safest but with a risk/reward like that I am tempted. Every day we look at risking 20 to make 30, therefore we should risk 30 to make 45 and 40 to make 60. This far outweighs these 'average' opportunities. I'll be watching for a turn-around on the shorter term time-frame before getting excited, but there's potential.

I'll try to post somethng along these lines each evening from now on if you wish. Just reply to the post outlining your interest and I will happily oblige.

'Guten abent' as they say in Frankfurt.