The London Open

[Dan007]

Good morning

I trust you are all well,,,

I have decided to move charting packages recently to MT4 and i have to say what a package. I only use a Demo account here at the moment, as i trade elsewhere, but it is free and its worth a sneeky look. You can overlap longer term MA's and CCI's on shorter time frames, which makes charts so much easier to read...

A little about myself... I've been trading for quite a while now and after trading in London and Hong Kong, i decided to leave and setup on my own. Its a lot different trading your own cash but when you crack a winning formula it can be very profiatble as you all know...I now enjoy living in Europe and this gives me the lifestyle i desire...

Take a look at a few of my setups. Today has been good and of course i am a realist, this doesn't happen everyday but i stick to my rules and only jump in when the trades come to me.

I will be posting here most days after the london open...

Well it looks like rates will remain on hold for now. Possible 0.25% cut by the end of year.. Tough decision for MPC as inflation is No1 priority...

Quiet london session but took GBPJPY and USDJPY down to support levels.

60min shows me the trade and the 15min gets me in on cross of CCI's.

Still in both as often when announcements come out the main trend continues...

I will come back later and talk about my strategy.

Take care
Dan007

[bossxero]

Warm welcome among us Dan...

I hope everyone will enjoy your daily market analysis... I will be moving your thread to the journal section... it suits better

[FerruFx]

Welcome here Dan.

Will follow your journal with great interest. Thanks.

FerruFx

[Dan007]

Good morning all…

Hi FerruFX, i hope you are well...

Interesting to listent o Mr King and his team on their inflation report… Tough times ahead i fear!!! They kept talking about patience and feel it will take 18-24 months before inflation will come back into line towards the 2% target.

USD hasn't really gathered momentum but thats the way it goes. The inflation data hasnt helped either...

Claimant Count in GBP came in a lot higher than expected which makes GBP very hard to trade. Growth suggests rates have to cut but Inflation at 3% is making it doubtful.

Speak tom…

GBPCHF break of triangle…
EURCHF break of ascending triangle…
EURUSD break of triangle….

[MrLong]

Hi Dan,

Welcome and thanks for your posts.

On your first posting, you said you would come back later and talk about your strategy.

I and other members would be very interested to know about your stratergy, TF, MA's Pairs ect.

Thanks
Andy

[Dan007]

Good afternoon all

Messy day to be honest but good trades taken in Gold, Crude and FTSE...

The currencies hovered at key resistance levels and u can see the JPY currences falling off their medium term highs for small pullbacks. keep your stops above the resistance level for safety... Any trade close to a support and resistance can be worth a play in the opposite direction, witha tight stop... It often picks me the odd 100 pips...

- Crude Oil saw a positive turn off 123.75…Follow the 21 CCI for entry on the 60min.

- FTSE bounces off Daily 200ma on 60min chart. The higher low bounced at 6180 for a move towards resistance at 6250..

- EURJPY - The 163.00 resistance held all morning and watch how the 21 CCI fell off the highs. Great entry level…

- GBPJPY was dragged lower with USDJPY… Watch resistance level at 204.50 and the 21 CCI moving below 0.00 level.

- Gold broke 50ma with high lows all morning.. Gave indication that USD would weaken, which helped our JPY trades...

Mixed picture with figures to be honest… Still like EUR lower but USD figures keep letting me down. The market is very illiquid and lost direction to me, so be very careful.. Each day is different and hard to build in these conditions but there are good possibilities if you wait for them.
Speak tom.
Dan

[Dan007]

Hi Guys

I will post strategies tom or over the w'e... Been snowed under with work and babies etc...

Speak tom

Dan

[Dan007]

Good afternoon all...

Not long till we bowl all these kiwi's out in teh Test match!!!

As you know its a messy period and a lot of indecision in these currencies. Take it day by day until we get a clearer picture for longer term plays. Gold was the call of the day…What a trade!!!

GBPJPY - After breaking support line on 60min chart, the 15 min gave the perfect entry point on a short trade…The red heiken ashi candle takes u in and gets u out.

EURJPY - The box strategy works well here with 50ma on 60min as a resistance…Look how the 15min gives u exact entry point on break of support. Red heiken ashi as well…

EURCHF - All these swiss’ currencies looked similar…The EURCHF broke support on 60min and the 15min gave us an entry on break of 60min 50MA on 15 min chart…The Blue line… Take a look at how it bounced off daily 200ma. The21 CCI gave us entry and the 10CCI on an exit… The 21CCI then gave us a perfect entry for a revers play..Always look at the 21CCI for entry…Vvvv helpful…

GOLD - This was called perfectly today…. I had my reservations but look how the 20ma held firm on the 60min chart. The 50ma was crossing back for a golden cross and a perfect break of the triangle for a long trade…

I'm finished for the week... Phew...Off for a swim with my little girl..
Have a great weekend..
I will post strategy if i get a chance this weekend.
Take care
Dan007

[Dan007]

Hi all


Very quiet today with limited alerts out in GBP and USD.

Picked JPY strength and CHF strength today, even in a quiet market for a few pips…

GBPJPY - Drifting lower from 203.65 and target 203.10

USDJPY - With Jpy strength the 21 CCI showed us an entry from 104.00 for a breakout…

GBPCHF - My favourite currency pair.. Amazing how much this can move on a quiet day… Break below 200ma at 2.0500 for a move to the 4hour support line at 2.0415.

EURUSD - With USD weakness all round the Eur found support off the 60min 20ma and the daily 20ma for a move from 1.5575 to a break of the 1.5600 level.

Please ask questions if u have any...

[MrLong]

Hi Dan,

You were going to brief us on your strategy.

What are you looking for on the cci for an entry?

Many thanks
Andy