The London Open

[Dan007]

Hi

CRUDE has broken which means GOLD and EURUSD could be limited on the upside.

Its a beast...

Dan007

[Dan007]

Hi

What an afternoon...

So how many of you prefer the london Open to the afternoon session? Yes more volatility in the afternoon but its all about the ease of the pips and thats what the london open offers.

Look forwaard to speaking with you all tomorrow.

Dan007

[nqtraderman]

Hi, Which broker are you guys using for Gold & Crude. Anyone using SpreadBetting companies ? If so, whats the spread on those and how fast/good are the fills ?

thanks

[Hemal]

Good morning ladies and gents,

So we have our first red hekien on the gold daily chart. I have a support line drawn in at 950, with my daily 20 ma just bellow. Historically we have seen gold retrace a few red candles. Yesterday morning saw a little play up for a few pips before my order that I mentioned at 968 got hit for a short play. I don't want to get carried away shorting this even though the 1 hour chart looks week. Maybe a small play down to 950 where the daily 20 is sitting. (still a good 140 pips in it), where if it hold this level, I'd be looking for opportunities to buy gold targeting 1000 again.

As for EURUSD which is boxed in between its 4hr 20 and 200 ma, if gold finds support of 950, and EURUSD remains at these levels I'd be looking to buy. As for the downside, due to the daily 20 just bellow and 200, I'm not looking to sell as these two MAs act act double support.


technically cable has broken out from its big daily triangle, done a 123 of the daily 50 and now made new highs. I have not intention to stand in its way. On a smaller time frame, cable has a lot of support bellow it. Therefore I am looking at buying opportunities here too.

Have a great day trading!!

[FX Pimp]

NQTraderman. Most of use use spreadbetting firms. 5 for Gold / 6 for Crude.
I hope this helps.

Morning all. Welcome to new readers of the thread. Please feel free to post comments and leave questions for the group.

Another big day for black bessy. That's 1600 pips in 2days. Very serious indeed.
Gold also gave-up 300 or so in what turned out to be a good Dollar day with DJI rallying too.
Where are we on the long term outlook 60/240.
Well, Crude has bounced off the daily 50. I hope you went long there Bloom as planned.
I fancy a pullback to at least $138-$139 from the present $134.
For Gold, she does look technically set on the 60m to fall to the 200sma at $946. CCI's are down.
I am not sure what's going to happen this morning I am very mixed. Crude going one way potentially with Gold going the other? Doubtful.

Onto the currencies.
Cable looks like it's found a new benchmark of 2.00 and looks to be holding up quite well whilst EURUSD is below the 4hr 20 looking set to fall to 4hr 50 or the daily 20 even.
Swissie has found some support understandably after feeding those who stayed with it with 50 yesterday/
Yen still looks interesting. Indicating this is just a retracement in a downtrend.
Gold and crude would need to recover some losses before I'd get excited about jumping in here and it is above the pivot, so I will be carefull watching intil it crosses.

Shorter term. Cable looks like the one to be on here. A break of 2.0030 could see a little push up again.
Euro looks more appealling up than Swiss down this session.
For the southside, I want to see a break of 104.70 on the Yen.
Bear in mind that each of these plays depend on Gold, which depends on Crude. That's just how I like to play at the moment.

The potential short term plays on Gold I know Hemal likes to deal with and he does so very well. I will do the Crude, and hope that Monkey will do the Indices.
Yes it looks bearish, yes there are no strikes in Nigeria, yes there is peace in Iran (for the next 6 minutes at least), yes there was a double top, yes we've made a lower high.............
Don't care I'm going long,
My 5m has crossed my 15m 20. My 15m 20 on the 15m chart has crossed the 50, these are all headed for the pivot at 135.50 and the 60m 20.
Anything that falls over 1500 pips needs to revoce some so I will be playing a 1/4 position from the 136.00 level.

Have a good one.

[Bloom]

Morning Guys,

FXpimp, I didn't get the Crude. I was heading out and it was too volatile after the inventory figures. A few weeks ago this sort of thing would have annoyed me but I'm seeing so many opportunities now that it is safer to trade when I can give it my full attention.

Finally we have a got a good rally in the indices which may leads us to some longer term short plays.

Cheers

Bloom

[FX Pimp]

Hahahahaha,

What a fool. Talking what I think not what I see.
Talking about a potential short on USDJPY because I liked it to 103.00, yet actually going long as soon as the room opened and playing it to the 4hr 20.

I know we like Gold higher but is it because our long term target is $1000.
Cannot be talking my own book. Must go with the technicals.

[rockdrive]

Morning Team London Open,

Counting down to my hols..........its like a 1, 2, 3 but in reverse. Got up too late this morning to take the Yen pairs. Would have been a good few pips and as they say the early bird (or bloke) catches the early worm (or pip).

I liked both DAX and FTSE lower today......managed to get in on both as they bounced down off their respective 15M 200's. I am annoyed as I cut the trades early, and then saw them trot off in to the distance. Dax rolling 6245 to 6235 (+10) and FTSE rolling 5243 to 5235 (+8). I also took a couple of trades with the black beast. Took crude long 134.61 to 135.01 (+41), and then tried to take it short from 134.81 but cut the trade (-16) as the 5M 10 and 63 CCI's started moving in the opposite direction. You have to watch crdue very carefully when trading on short term. It often means I cannot take other trades as I've not yet developed my system enough to be confident of just watching the price action. Hopefully this will come. Total pips this morning +43.

Regarding the remainder of the day I'm off out later but will be looking for another entry on crude and possibly gold. I messed up the indicies this morning exiting early so I will leave them alone now.

If I don't see anything I like in the next 60 minutes I'm closing down for the day and keeping my pips in the tin. So far this week I am behind my target but still over 300 for the week, which is very exciting. Starting to get some real consistency and hope this performance can be maintained when I return from my break.......

Catch you all later,

Vacation Rockie..

[Dan007]

Hi all

Well quiet morning to be honest and all set for the afternoon on the Indices.

Had a cheeky little short play on the FTSE. Perfect 123 back to R1 at 35 and now trading at 10.

EURUSD broken triangle on upside finally. How painful was that to watch this am. Should bring in a few more pips and all controlled...

Not looking for a lot else where but keeps the pips coming in slowly.

Speak later

Dan007

[FX Pimp]

Can she break back up ?

Look at the shape of the 15m 50sma in faint blue. Slowly but sruely curling back round to face up and supporting very nicely. Some traffic ahead but a distinct possibility.

Should add some weight to EURUSD & Cable to the upside IF it breaks