Anna-Maria

Sorry this a tad late. I took the snag then got diverted. Anyway, it's self-explanatory adhering to our typical entry criteria. I've re-drawn the Fibs on the days H-L activity, & was waiting to obtain a trigger off the pullback from the 10.00am data. The 15m chart highlights the entry (short thru 9338) with stops back on a short leash @ 358, above the high p/b bar & 38.2 Fib for now. I'm targeting the low zone down towards the weeks lows @ 9260 to the higher low pitch @ 9280. If this trots on, Buk can pick it up & see where he wants to scale/run it. For now, the lower high stack is confirming off yesterdays thru 9450 & todays reluctance to breach back on a determined re-test continues to weigh on this instrument. I'll slacken off the stops should price meander & hold the days lows. Dr Who: Buks a little busy today, so won't catch up with the posts until tomorrow.

Similar to yourself, I'm a 'simple child' & the general layout is fine. Good, clear style of posting criteria & ease of attachment tools etc. Some forums often look very congested & difficult to "read" but the layout on your forum is easy on the eye. Like I said, I'm all for clean, simple assimilation Congratulations on the progress, you've got yourself a very interesting & informative site with top class content from some (obviously) very savvy contributors! I find the index/profile & video content extremely absorbing. Wish I could contribute more on that side of things, but unfortunately, the simple technical route of FX is all I know. Great place to hang out in James - keep up the stellar work!

Price has again stalled out inside the small range pre-NY, adding credence to yesterdays lower high containment at the larger 38.2 line. One or two markers in focus as we drift into the 1st of the main data dishes for this week. We have a 61.8 Fib plotted on the Daily protecting the 1.92 Round Number @ 9220 should the buck gain a little momentum off this weeks data. Whilst the 9460 is a busy level, also housing the 38.2 plotted from our larger Daily levels. Just have to wait see what occurs - quite a tricky area underneath this recent range bust thru 9450. Looks like we'll be playing it via the shorter intraday strats until or when price confirms a directional bias. 240min with accompanying range Fibs + todays Pivot references. 15m highlighting the important levels in focus.

Nice, good trade there Cary Good luck with the resumption!

Stopped out on last % stakes as the UK Data disappointed, now flat this on intraday strike. I'll probably hang fire now until our session kicks off with the release of the Stateside Trade numbers @ 8.30 EST.

Buk talked about structure in a prev post on here somewhere. It's important that regardless of the timeframe, similar structure is obeyed. It doesn't guarantee that an entry will be successful, but it allows you to monitor the progress of your strat & guage whether market conditions are suitable to engage a specific strat play? This is where we'll look to tweak or improve one or two ingredients of our basic templates. Conditions change. Ranges become contracted, or fundamentals affect short-medium term volatility etc. If we don't obey consistant structure or remain loyal to the rules applying to our strats, then we're gonna be behind the curve when price skips out of line. It means we can flip from attempted swing entries to a faster/shorter timeframe bias until price begins to string out again. It merely affords us flexibility to engage according to the current market conditions. Nothing too in-depth or scientific, merely sensible reaction to conditions.

Like you, I've longed it this morning, albeit slightly later than your keen entry cowpip. I wanted to wait for some interim confirmation of this 9350 pivot zone & the reaction to the momentum up through the Bands leading into London. Anyhow, this is only really intended as an aggressive intraday strike, intended to reduce the small loss from Buks trade y'day. I'll skim out at todays main pivot area & trail tight, looking for continuation thru to cR1 before making any further decisions re: stops/compounds etc. This still appears weak until it climbs back towards 9455-75 level, & any micro entries will require watching like a hawk in my view.

No-one, regardless of their experience or exposure to markets, is immune to losses Jack! I can assure you we have our fair share of those along the route LOL. It's important however, to not only recognize & plan for them, but to stick rigidly to the tolerances set for the individual trades. I'll protect his stops via the micro timeframes whenever possible as he's attempting to climb into a potential swing leg, but initially the entry has to live or die by the analysis & prep etc. We won't throw good money after bad just for the sake of trying to prove each other right.

Yes, it's a failure to take out the high or low of the pre-London bar print. On a strong market thrust, price will move aggressively through the bands from bottom to top (attacking the Asian high), or top to bottom (attacking the Asian low). We'd expect price to re-test the band penetration (holding at the median line) & continue on to validate a position. During a steady trend move, including a move during the Asian session, again we'd want price to remain loyal to the upper/lower band reference. That's the generics anyhow. Obviously, there needs to be confirming info, but for the types of strats we use, they're a good confirmer of expectancy. Trouble this morning was: price held a steady line at the 9410-15 supports, and looked like mounting a push for the 9445 p/b high. Buk took the option of buying the consol lows. Fair enough, nothing wrong with that stance. There was simply insufficient demand to kick price back up, therefore all we got was a slow bleed through the median line, temporarily relieved as NY came online. 2nd failure there was the signal to close out. I wasn't particularly disputing the decision to "go long" - he was right to buy at his fair value/odds risk level(s), but insufficient kick + inability to breach the Tokyo top rendered the position suspect.

The Bands tell the story! Ok, no definitive reason to sell it yet, but by the same token, no real reason to hold it either? How many times have you shorted/longed the Bands on the back of a pre-London fake play??!! What can't speak can't lie

As long as it's via the 1min frame, yeah!

I wouldn't worry bout it, it's more than covered via the GBP crosses anyway?! Bail it & pick it up farther back? There's no impetus to run it now, + if it's going to make a genuine attempt to climb back into the range & gun for the 50% range zone at the 1.95, they'll prop it if it falls back?? That way, the risk is absorbed lower down. If not it's a dollar a dime trade.

Yes, agreed. This consolidation is beginning to time out up here, certainly as an accumulation prospect to test this s&r level. The value is becoming diluted the longer it strings out. Don't think he'll hold this for too much longer. You got the best of the ride (risk) on this mini leg - nice one

I guess your short was just a fader cowpip? Not wishing to influence anyone's trade(s) at all, as we all 'play em as we see em' - Buk's a buyer (of Cable) in small pockets on moves back to this short support line (410-15) this morning. Looking to test the resistance from below at this level.

Ya, pretty much a nailed on fade up there cowpip. Your 15min bar confirmed via the 5min doji with 1min confirm thru that 440 - decent low stress quickie. Looks like they're absorbing the interest up here at the dual confluence. Yesterdays high being a fairly decent marker, back towards the overnight consolidation which triggered torero's entry.

It's merely our quirky sense of humor torero. We work/trade for the common cause! You oughta witness some of the banter he receives from the rest of our brood - being the lone male amongst a gaggle of fillies, he holds up pretty good LOL. Nice entry there by the way. Very clean shunt off late NY settlement price, which is also the 23.6% of this recent leg down off 9750. We're now approaching the 'decision line' back towards the recent range penetration, which houses the 38.2 @ 9445.

The move up off that intraday 78.6 trigger has not only stalled out at your 618 Fib extension target Buk, but also lost it's wind at the hourly lower high swing, which by chance is the 78.6 on this trend move. Need to watch this axis into the London activity tomorrow. 9430-60 is near term upside. We got a long range 38.2 Fib + the Weekly Pivot lurking at c9435-60. No doubt they'll be a clutch of $ long stops mixed in there abouts. No T.V Tennis for you tomorrow!

When you're done staring at that wall for the next 5hrs, write on the blackboard: "I shall not watch the ATP Tour Events when I should be sat at my workstation" 150 times!

I don't play the game myself, but as with trading, the psychological strengths obviously assist with game plays. Not sure if you've come across this book James (available thru Amazon), but a couple of our friends/fellow traders have waxed lyrical about it's content. Again, very similar rules & approaches in both persuits.

Yeah, the increased volumes from the tiered shops has had a noticeable impact for sure, agreed. There's a common denominator to your two following comments which will always tend to impact short term volatility however, & that is the strong emotive trigger which in some ways ties in with the title of this thread: Often it's not a case of traders planning around the "actuals" of an important prospective shift in market moving sentiment, but rather the "anticipation or speculation" which drives price extremes in the near term. OK, so it might only be a short lived occurance every now & then, but there's nothing like rumor & scare mongering to stir the Bull-Bear tug-o-war game.

Hi Steve, We focus solely on the currencies, and wrapped it up towards the end of 1st week Dec, which has become a normal habit over time. So we haven't been affected by the usual thin conditions leading into year end. Again, August causes problems with diluted volumes & it's a case of either standing aside, reducing potential profit expectations or switching to a shorter strat framework. My brother got tangled up a bit during mid Oct (Cable) with a few false starts, but then it's to be expected every now & then. What kind of filters do you operate in such conditions? Are they worked around your automated model or structured alongside your manual execution. I tend to change tack slightly when the mini (hourly) trends begin unseating me. Maybe drilling down a timeframe or two & booking 1st line profits earlier, whilst trailing the remainders a little closer until the field opens up again. Always a very annoying & frustrating occurance, but thankfully, not a consistant problem on the majors.

Big Barn Door @ 325. That's a wrap till Monday then. Akin to pulling hens teeth this morning, this is best left to the mop-up brigade!

Oughta be good for a blast to the mornings (Asian) low if it can cut thru this clack. Needs to hurdle the prev 15m neutral bar though. Don;t ya just love these claggy Friday NFP gigs

Got 298, I'll trim out up here for +20 & even the rest out @ the b/e. See if they've sufficient balls to run it.

A whole cackle of neutral bars printing down here on the 5 thru 30m frames - holding at your weekly support line. Like to see an hourly doji print here too to offer a little balance. Might try a wee speculator entry back towards the S1 pivot zone @ 325.