The London Open

[Dan007]

Hi

Forgot to say that for Indices to fall further you will need the Dow to break the 4Hr 20ma at 50.

Good trading this avo.

Dan007

[FX Pimp]

There are many faults with the pivot point indicator I was using, but have found a better one which I attach.

Either substitue the IGP one and replace with the new one, or drop me a line and I'll forward the whole template to you.

Happy Pimpin'

Welcome oh Wilted one. Like the sound of the chat. Need a bit of a lie down and a holiday 1st though.

[WilteredFire]

thanks fx pimp Had a free ride down on the ftse from my short, moved stops to breakeven after it went down a fair bit, then got taken out at break even, only to find it go down much further! such a shame lol.

Nevermind, going to await another setup for a short if i can. By the way, what type of pivots does the indicator give?

happy pippin!

[FX Pimp]

An important lesson here for all the novice traders reading this.

It's called 'how to lose'

Very simply by following the techniques in this thread that I adhere to, being that Crude is Daddy bear, Gold is Mummy bear and the FX Majors are Baby bears (or was it something to do with sport?).
Anyway, follow this and you will be successful. Ignore it and you will die !

Look at your lovely long position on GBPUSD. Turned to dust inside 15minutes.
Look at your lovely short play on USDJPY. Turned to dust inside 15 minutes.
Look at your lovely short play on USDCHF. Turned to dust inside 15 minutes.

What can seem like a brilliant set-up can go horrible wrong in a very short space of time.
WHY? Because Crude started to dump and take Gold along for the ride.

I cannot emphasize to any novice trader enough how important it is to keep an eye on these bad-boys !!

May it serve you well!

[amaruenterprise]

Great pimp!!! I can follow this thread here as well as over at forex-tsd...double the fun....

[pardy]

And deep beneath that dust is oil, haha!

Thks for tha analysis, I now have crude on my charts!
BTW I notice you're using cci 7, I have cci 10 onmy charts, is it better to use 7 in current conditions?

Thanks

Pardy

PS. Appreciate your welcomes!

[FX Pimp]

I wonder if this looks good to anyone?
IF Crude can dump a bit further and fall below the S1 pivot, Gold looks like it could go too.
Targeting the Pivot point maybe.
Cheeky little 1-2-3 with a tight 20 pip stop.

[FX Pimp]

Sorry about the targeting. She went all the way to S1 before I had a chance to close.
A quick 120 pips in under 15 minutes.


"Mucho Gracias" as our Mexican friends would say.

[pardy]

Fantastic Call!!

[Jeremy_W]

Hi Traders

Forgive me for it has been several weeks since my last post.

A quick 20 pips on the UJ.
After finally getting some direction, I waited for retracement to the pivot where the UJ found support. 63CCI up and 10CCI giving conformation as it crossed back up through zero. Target was R1... 20 pips.

Jeremy