steveshutts

Ok, stopped out on that one. Wait for the next opp. Will wait until the figures have been printed this afternoon now.

Yeah, i agree Torero, the higher low print on the 240 was a little concerning and probably should have kept me out of that trade. Things have gone very sour at the moment, complete loss of momentum. Durable goods figures out later and new home sales so i will be looking to pull this trade if we don't see a move in my direction before then. Its not looking good at the moment.

Charts for trade.

Morning guys, Back from a couple of days off, seems like you have all been hunting down the good opps out there, nice to see plenty of trades being posted. I have just taken a short on the swissy. Price has been rejected again off the 2525 area, which has been a strong resistance area of late. This area was a watch area for me after the break of the asymmetrical triangle that Torero highlighted the other day. Had a nice 2B pattern on the 30 min chart with inverted hammer bar off resistance, an inside bar print on the 15 and also a nice 1-2-3 on the 5 min chart, all lining up nicely for a short. Hourly looks like it is going to print a nice inverted hammer spike. Looking for 2430 -50 area for first level scale out. Charts to follow to highlight trade.

Yep, good idea Torero. I will try that next time!

Blimey, i am sure if i tried, i could make it a little bigger if you guys can't see it. LOL. This is typical, just when price arrives at a very good decision point i have to go out for the rest of the day, and probably some of tomorrow as well so looks like i will be missing the good opps. Nice outside houlry bar on cable just completing. Oh well, will have to let this go. Happy trading guys!

Voila, Cheers Torero.

How do you guys manage to post your attachments within the thread as opposed to thumbnails. I much prefer this method as it is faster to view them.

Yeah, i am liking the activity, giving plenty of feedback and different views from people. All aids in the learning process.

Yep, that area is a confluence zone and i will be looking for demand at this zone too. Has been quite a move down, a sharp fall for the pound across the pairs.

LOL, fair enough. I suppose with those keen spreads you guys get, those are well worth the punt for a quick test. Looks like this is marching on a little bit. Will wait for the news to print now before taking on anything. Half day for me today so not sure if anything will be presenting itself for me today.

Yeah not bad thanks Buk, you? Still cracking away at it. Things are getting slightly better but still not happy enough yet. Fortunately, thanks to your guidance i am on the right side of things now, looking for the right opps in line with the 240 trend. I came across this board by accident and happen to notice the old guys were still lurking about, you, Anna, Cowpip and PipMonster. Great to see some life again so here i am!

Well in there off the 1 min eh Buk! Hope this pops back up for ya.

Haha, thinking alike there. A good decision i think, wait for the opening at 08:00am GMT. This may well end up being the asian low for the day and we may see a turn here, who knows hey, only price action will tell us in due course!

Nice one Torero. We are getting some rejection spikes off the 9750 on the 15 and 5 min charts now. We could well see some demand here. I think i will wait for some more confirmation to see what will go on here. This may well just hover around at this juncture until 08:00 where we could well see a turn. However, we have the news out at 09:30 and could be dangerous to take on a position before this. I think it maybe better for me to wait now until this has been aired and maybe try and jump on a pullback after the market reacts.

They are certainly dumping GBP/YEN this morning, but that pair hasn't looked back for quite a while. These corrections will hopefully produce some good opportunities to leg back into these trends.

Yep, cable has come off much more than i was anticipating. The real test will be the 9750-70 area now. Probably started off with some profit paring before the news this morning, with speculative shorts jumping on the bandwagon, which seems to be aiding this shove back down??

Thanks Buk. Yes, i was referring to those. I always have up my pivots and asian range so i am aware of these but have never encountered the others before. To be honest, i suppose i have enough markers there to worry about!

I am also having problems achieving the same levels as Texas. Could somebody please verify exactly which High, Low and Close prices are used to calculate the pivots? I know that the close is taken from the US close at 22:00 GMT but what high/low price is used? I seem to be getting different levels, and not just by a few pips either.

Yeah maybe, didn't think we would get that last burst up. Cable has already put in a days range now of around 130 pips so i am waiting for a more significant pullback on the hourly frame now. It could well continue up, but considering the climb already, it has a less chance of doing so. Watch it fly through the roof now!

Doesn't look like we are going to get any follow through this side of the US open. Pretty heavy resistance at the 9850 level with a failure to punch through convincingly. Currently flat this morning, those inverted hammer bar prints on the hourly are keeping me away from going long at the moment. Price currently finding support at the asian high and R2 but this is by no means a value area for me to take on so will wait and see what happens this afternoon now. You guys definitely got the value punt this morning, well done.

Nicely held on there Torero. Looks like you got a nice little boost from the Euro positive data. Euro has broken 3000, lets see if it can sustain this break! Price still contained within this daily bear flag on Euro at the moment, painting a different picture to that of cable at the moment.