Technical Templates

[jack mason]

Joe & JimmyMac,
Thanks very much for those last few posts guys, this type of information & advice is top class.

It's rare you see this stuff on public forums. Most of it is the same old stuff, regurgitated & repeated by different posters in slightly different ways. I realize there's nothing new out there, but there are definitely fresh ways of looking at & analyzing data & information - & the stuff you guys are presenting here certainly fits into that category!!

[jack mason]

A choice of entries this morning guys with Euro & Cable both continuing to drop down off the weekly open & today’s opening price.

In my view the Cable offered the cleaner opportunity. There was a perfect entry opp on the Euro$, but the ideal pullback happened just above the weeks open unfortunately, so no go as far as that one was concerned.

I got stopped out on that vicious spike after the MPC interest rate release. I guess I could (should?) have exited 15 or more minutes ahead of the release, as it’s quite an important item of interest.
Still, I’m happy being able to spot, execute & manage these set-ups so smoothly for the time being. I’ll worry about fine-tuning things later.

Did I engineer this one ok guy’s?

[goldtop]

I got stopped out on that vicious spike after the MPC interest rate release. I guess I could (should?) have exited 15 or more minutes ahead of the release, as it’s quite an important item of interest.

Did I engineer this one ok guy’s?

Your observations & reasoning look ok from where I'm sat. You got your bearings correct, identified the set up, pulled the trigger in the correct place & managed the position according to the advised input.

Just unlucky that the spike ratcheted North instead of continuing South is all.

Good job!

[whipcrack]

Did I engineer this one ok guy’s?

I took the same initial signal Jack.
Also got stopped at the same place on the kickback, so I agree with Dean (goldtop), you played it by the book.

As was mentioned a few posts back, these data influenced stop-outs will go in your favor just as often as they’ll go against you.

Have you considered maybe partially encashing units & trailing the remaining stake size? That might be a viable option for you in these types of circumstances?



There was also the option of getting aboard the pullback after the initial spike had blown itself out.
The release (rate & statement) came in as expected, so the spike was simply knee jerk orders getting pared off & shaken out.

Same analysis considerations apply + plenty of gas left in the tank as price had bounced off the 2/3rds zone setting up the re-entry pullback possibility.
At that point Cable had only travelled 62 pips from the days high.

That left a potential 114 pips worth of gas of the 176 average range it prints, focusing the possible destination at approx 1.5741 if it registered it’s full potential.



Same management criteria – trailing down via either the 15 or 5 min swing tops.
Edit: stopped out on this 2nd leg whilst posting this

[jack mason]

Thanks guys. I was pretty sure I’d got the number on that one, but it’s nice to have it confirmed!

There was also the option of getting aboard the pullback after the initial spike had blown itself out.
Same analysis considerations apply.

At that point Cable had only travelled 62 pips from the days high.
That left a potential 114 pips worth of gas of the 176 average range it prints, focusing the possible destination at approx 1.5741 if it registered it’s full potential.

I did notice the 2nd pullback opportunity whipcrack & am kicking myself that I let it go because it offered excellent risk (30 pips) to potential reward odds

This is something I expect to latch onto (as you so obviously have) the more I become familiar with this strategy model.

I hadn’t calculated the math to the extent you did, & that’s something I guess I’ll pick up the more I study the chart geography. But I can see how quickly computing that kind of information would be a huge benefit when considering entries & exits.

The more I familiarize myself with this strategy model the more I like it. It really is a very cool set up & you guys make it a whole lot easier & comfortable to operate with your excellent back up & assistance!

[Joe Whitehorse]

There was also the option of getting aboard the pullback after the initial spike had blown itself out.

At that point Cable had only travelled 62 pips from the days high.

That left a potential 114 pips worth of gas of the 176 average range it prints, focusing the possible destination at approx 1.5741 if it registered it’s full potential.

And right on cue (as London closes up shop for the day) ....average days range coverage tick boxed & it bounces like a rubber ball.

[shona123]

Cable plumbing the 13 Oct 2009 depths this morning, probing 1.5707.
There will be all sorts of defenses (incl option barriers) down here at the 1.5700 handle no doubt.
NFP day too later on in New York, couldn't have happened at a better time

See how many stops get fired off on a determined push down through here huh?

[whipcrack]

Both the major European pairs (v/s the $) are at key support/resistance levels this week shona, by the looks.
Stiff resistance from March-May 2009 on eur/usd flipped to support a month later & is now being tested once more this week.

Bound to be some pretty decent (each-way) pullback/momentum opportunities to be had when the fireworks go off with a bang!

[spotfx]

See how many stops get fired off on a determined push down through here huh?

Bound to be some pretty decent (each-way) pullback/momentum opportunities to be had when the fireworks go off with a bang!

I've been out all day so didn't trade the NY session, but looks like the firework display was a colorful occasion, particularly following the usual NFP spike-a-rama

I expect one or two of you folks took advantage of the pullback opportunities 'post-NFP' ?
Risk aversion playing it's part too this week.
Don't ya just lurrrrrve the volatility!!!

[JimmyMac]

It was quite thin out there in NY trade today guys, hence the slippery slide down through clusters of stops at 3700 on the single currency & 5650 on Cable.

That bump & grind lower leading into the European close was amplified by oil dipping underneath $70. It was only short covering into the weekend that steadied the ship today.

Early (next) week will shed a clearer light on the appetite to test thicker stops underneath this weeks lows.
BoJ chiefs were 'highly visible' checking rates again today.

We’ll hopefully get to see the color of those stops underneath this weeks lows early next week – see how “thick” they really are!

Should be plenty of offerings on the table for you ‘hit & run’ momentum muggers