The London Open

[pardy]

Hi Dan,

A very good post above, thanks for sharing your wisdom and strategy. Yeah, like your trading rules!!

And will get there.

Kind regards

Pardy

[Dan007]

Good morning all

Thanks Rollingstone and Pardy for responding. Haven't had too much response yet but if it helps one person then thats what counts.

Yesterday was messy and as i said this market is not normal so do not expect normal trading ranges and momentum. I had a big city friend call me up the other day and actually said he was embarrassed of working for his bank. Oh how the world changes!!! These city slickers with the fat porshes looking like prime idiots!!! I knew there was a reason why i left and got on with my normal life...

Anyway enough ranting...

Well Crude finally broke up after messing around yesterday like a naughty school kid.. 8 out of 10 times i would have banked 150/200 points on that trade but thats life and i move on.. It is now forgotten and a new day. Positive thinking always!!!

GOLD remains messy. I like it higher because i like gold bars when the stock market is in turmoil. However this is not a normal market so a break below the 60min 50ma could see a pullback to the 4 hr 20ma as its below the pivot. Personally i want to remain bid with it..

Crude is messy and boxed in now between the 60min 50ma and 60min 20ma. Going to wait for direction here..

Again currencies are messy and direction is hard to read.. I can see arguments for both directions fundamentally and technically at mom...

Sorry not very informative today... Let me get back to u when i know whats going on with the USD..

[Dan007]

USDJPY - 60min chart boxed in and could move to 4hr 50ma...

63 CCI moving to the upside...252 CCI green already... Keep an eye on this.

Not many pips but a potential.

Be patient and lets wait for the market to show the direction.

D

[Dan007]

I am still looking at Crude to fall 50 pips towards the 60min 20ma.

D

[Dan007]

Arhh this market.. With GOLD looking strong it gives me reservations about this CRUDE.

To be honest Crude is having a little pit stop b4 potentially moving a small bit higher. Prob best not to trade this cheeky short. Wait for the break above 60min 50ma. Gold looks like its going to move...

[Dan007]

Patience is key today... USD weakness looks the way but messy out there.

Looking hard but clear direction isnt there yet in anything

[Dan007]

Cable and EURUSD both broken 60min 50ma....The USD is weak.

Good lesson to learn and remind me again today is to really wait for the direction. What ever the setup, do not enter until u get clear direction on all major's and commodities.

D

[Dan007]

Take a look at the breakouts of the 50ma's...

[Dan007]

Ok i am done for now... Lost 20 on Crude on a stupid play looking back. Must remember my rules!!! Please punch me on the nose someone!!!Should have reversed it but felt like a prize wolly!!!

Took 45 on cable and 40 on EUR.

Speak later

[Dan007]

Arghhh stop beating myself up (Rule 17)...hahha. I knew Gold was going higher... I am a plum!!!

Ok off for a coffee and croissant.

D