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pipMonster

Week 4

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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.

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quickie off the 78.6 of the weeks H-L measure! ;)

 

looking weak into the Tokyo-London handover traffic, so not anticipating holding the remainders too long.....specially as it's rejected the prime pivot so swiftly into early Tokyo activity........any ramp back towards this mornings pivot (9828) will be an added bonus!

 

hmmm, can't load attachments at the mo, it's not playing ball - I'll have another peek later..........

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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!

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not me buddy!.......those little quickies belong to Anna's mob :)

 

I'm far too clumsy & heavy on the button for those whippet trades LOL....

 

they're generally only intended as short/scalp opps....an 80/20 or 70/30 split to test the rebound........

 

they usually produce a 3 in 5 success rate, certainly often enough to rack up the pips on a regular basis........

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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.

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This down move since yesterday looks mean, might be changing of trends here? But I'm still getting some positive signals it of bullishness. If this channel can hold, I'll be looking for a long here.

 

FOREXPLANE-GBPUSD-240MIN-RISING-CHANNEL.gif

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well, it's had a pretty decent sprint up off the early month higher low level @ 9315.....travelled 6 cents without any real stress, so a blow-off won't do it any harm to check the Cable Bull appetite?

 

the 38.2 rests @ 1.9685 & the 50% @ 1.9614 (which also houses the weekly S1 pivot).....those 2 camps will be eyed should they come into focus off this 1.9900 rejection......

 

they're generally usual water holes on large treks up & down the ladder.....& both within spitting distance of key Big Figures....bound to be each-way stops lurking thereabouts wouldn't you say?

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Yep, that area is a confluence zone and i will be looking for demand at this zone too.

 

I think you know by now that these zones (intraday/weekly/monthly highs-lows) require keen attention ;)

 

this intra-week low zone (9715-20) is an area where I'll typically drill down to the sub 15min frames seeking confirmatory triggers.........

 

usually low(er) risk & keener r/r ratio's exist for a decent push away.....always a fiercely fought area where good each way interest lies in wait.........

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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!

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yeah, you'll need to re-size those snaps Steve!!......those widescreen piccies will freak out my train of vision........ :eek:

 

plenty of opportunities across the board this morning huh?.........

 

Yen setting up the premium trigger thus far.....nice confluence zone of interest - today's S3 pivot, 23.6% of the pullback from the highs off the 118.0 trend move + the R1 monthly pivot to boot..........

 

long legged spinning top printing down at this intraday S3 area on the 15min & the fast frames (1min-5min) offering decent r/r for a poke back towards main pivot zone @ 121.50....

 

the Franc & Euro are flapping around their respective prime pivot zones this morning & Cable is having a tug-o-war at the S1 too........Yen by far the better option so far............

 

 

attachment.php?attachmentid=557&stc=1&d=1169633218

tech42.gif.48d885b0c2aed058e4366335fcbf273a.gif

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Hi everybody,

 

I've just discovered your amazing forum. FX trader too.

 

Buk and Tex, fantastic information on all your posts, really appreciate it. I'm

going through all of them till I catch up and can contribute.

 

Torero, kudos to you too!

 

Hokshila

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Hi hokshila and welcome to forum!

 

I was going to say how great the charts are from buk and tex. I peruse once in a while and find how well those pivots work. I'm going to add those pivots in now.

 

I see steve's channel matches mine, all on same page!

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hey Hokshila........ditto torero's welcome, look forward to your contributions on the FX threads......

 

it's nice to get a cross section of views on the instruments.....everyone plays them slightly differently.....however, quite often a similar (important) level/zone reacts to each traders interpretation of it!!

 

which merely adds credence to why these key technical zones comply to the expected supply-demand triggers..........if enough activity occurs around them, they'll sprint away with sufficient energy to get the trades into the black! ;)

 

didn't have time to haul up the accompanying charts on that last trigger, but here's the 15m & hourly frames showing the confluence zone more clearly........

 

 

attachment.php?attachmentid=558&stc=1&d=1169638595

 

attachment.php?attachmentid=559&stc=1&d=1169638596

tech43.gif.af04d0e9504cf98842c2e1de5331c739.gif

tech44.gif.18063374ddd42c2089c0bd3015f4c7ef.gif

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Here's what I see, looking like the failure is coming around the corner, reaching just to the bottom of the rising trendline. I plan on taking a short a bit lower from here.

 

2007-01-12_USDJPY-60MIN-RISING-WEDGE-CONFIRMING.png

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Not sure if anyone trades or watches this pair but I'm seeing 5 pip spread on this thing. Is volume so small??? Anyway, I shorted this a while ago. Major resistance going back to 1998. The drop down this morning was a possible cue to sellers or short sellers to move in? I see lower high, here we go.

 

2007-01-12_GBPJPY-MONTHLY-AT-MAJOR-RESISTANCE.png

2007-01-12_GBPJPY-60MIN-AT-MAJOR-RESISTANCE-LOWERHIGH.png

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Not sure if anyone trades or watches this pair

 

Anyway, I shorted this a while ago. Major resistance going back to 1998. The drop down this morning was a possible cue to sellers or short sellers to move in?

 

we're currently in this pair (long) via the "carry" value torero.......I've attached one of the guy's charts highlighting his "profit value" pare out on any extension off the resistance top you refer to.........

 

unless this pair violates (closes below) the 23.6 & hassles the upper Round Number marker Jimmy's annotated @ 237.00, he sees further strength on this one.........

 

particularly should the BoJ continue to fluff the markets with their interest rate speil & the BoE look to tighten further into end of 1st Q........

 

your entry actually confirms the shunt off 78.6 of today's intraday wiggle, & you've picked a good (risk) short thereabouts.........nice confirmatiory neutral (spinning top) bar at the top (sub hourly frame) of the pullback too ;)

 

so, we're playing it slightly differently.........but long as you capture the value entry according to your risk outlay, then you can't really grumble huh?

 

hope it runs on for you!!!...........

 

 

attachment.php?attachmentid=560&stc=1&d=1169643481

tech45.gif.1959ef464b3bfda48fd0f3f229a030a8.gif

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I don't think I'm in the same timeframe play as one of your guys, mine seems a smaller target but just below 38.50 is about right (this morning pop low). Although I'd like to hold it longer but I don't have the same quantity of ammunition ($$) to hold such a large stop loss... yet. But at least I'm in the same map as your chart, just different side for now. Thanks for confirming!

 

I'm starting to notice that my entries are better than my exits. I need to start fixing this problem. Thank goodness at least one side is giving a chance to profit but the other side is not doing enough to squeeze the rest of the juice out LOL. I need develop a better exit plan.

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