Technical Templates

[zilly]

......but the other candidates on my hot list (which for the purposes of interest are: audcad, audusd, gbpcad & gbpusd) are annotated with 1 upper & 1 lower area or zone of next potential S&R reaction to assist me in preparing for possible entry, exit or partial profit booking.

I'm looking at pretty much the same pairs that round number flagged up yesterday in his second post.
....+ aud v/s cad & usd

Nice continuation moves on those 2 pairings again this morning which confirms the large volume purchasing in Aussie near term option calls during all of yesterday's London session. Lighter this morning, but still significantly higher than most of September. Looks like the sparse volatility is returning at last, at least on some instruments anyhow.

September AUD/USD highs are now well in the viewfinder!

[jcpfx]

Nice continuation moves on those 2 pairings again this morning which confirms the large volume purchasing in Aussie near term option calls during all of yesterday's London session. Lighter this morning, but still significantly higher than most of September. Looks like the sparse volatility is returning at last, at least on some instruments anyhow.

September AUD/USD highs are now well in the viewfinder!

I agree 100% on the levels/setup and current action, even if on the two newsfeeds I follow there was no mention of large volumes of option calls being bought yesterday...may I ask where you are getting that flow info from, if it's publicly available information?

Thank you.

[spotfx]

It's not publicly available jcp, well certainly not in the format in which they relay it anyway.
Its info which is regularly received & updated from various sources across all the 3 key regional trading sessions within the room that Tess & her crew run for clients.

A lot of the time it's nothing more than background filler. It only comes into its own when there's a noticeable uptick or downtick in implied volatility & put/call contract purchasing.
But once the footprints have been indented & a move is back on the radar the usual background/structural signs are there for all to see.
The pre-trade criteria regularly featured here is adequate enough to leg into (& out of) sufficient quality moves to make the effort more than worthwhile

[jcpfx]

I should have known

Every so often that room & the sisters' group gets mentioned but I guess that there are more followers from this forum in there than I imagined

Well from what i've seen written here, only the worthy get to peek into the action there so I guess a tip of the hat goes to Zilly as well for making it

I'll get back to that pre-trade criteria and get it up to speed. After the UK LTRO news-fake I was triggered long on both EurUsd & GbpUsd today. I kept them on into the break of GbpUsd's inside day and switched to a 1Min chart to give back as little as possible because the EurUsd trade was going nowhere and I was increasingly eager to scratch it. So between the two I'm out with +0.44R and I'm still holding AudUsd long triggered on a 15Min 1-2-3 off 9448. I've been managing it on the 5Min so my stop is currently under 9475 (it was originally at 9435 below point 1 of the 1-2-3). That would net me just over 2R.

[round number]

Well from what i've seen written here, only the worthy get to peek into the action there so I guess a tip of the hat goes to Zilly as well for making it

By all accounts it's not a lurkers domain in there.
Apparently everyone has to work pretty smart for their participation, but it's definitely something to aspire to if the opportunity ever presents itself.

After the UK LTRO news-fake I was triggered long on both EurUsd & GbpUsd today.
between the two I'm out with +0.44R and I'm still holding AudUsd long.
I've been managing it on the 5Min so my stop is currently under 9475. That would net me just over 2R.

Good going today.
Pitching down into those micro timeframes isn't such a bad trade management idea once price opens out a little. I've drilled down into a 2 & a 1minute before now to track & trail an aggressive shift up or down in price. You certainly know you're shadowing a decent move if those timeframe cycles behave impecibly.
& if you're day trading (& closing out at end of session), what does it matter if you're trailing it via a 1 minute or a 60 minute?!

Too many folks get hung up & freaked out by micro timeframes, but at the end of the day all it amounts to is the same song being sung in different pitches

[jcpfx]

Thanks RN,

today was ok and to tell you the truth I've had enough screen-time for today

As Joe said right from the beginning of the thread, micro time-frames can help achieve your means if you know what you're doing. While I have found that to be true in it's essence, i think that it makes sense only if the risk:reward suggests you do it. Joe milked an impressive Cable bet, and switched to the 1Min after a "pop". That's about the only moment i'll flip onto a 1Min chart, because I fundamentally hate giving back pips if the trade is well in the black (over 1R).

How was your day?

[round number]

How was your day?

Spent just checking in on & adjusting open positions.
No fresh orders today.

[jcpfx]

Some interesting action this morning that could set the tone for the comming days. USD is back on the bid, with EurUsd & UsdChf breaking their respective housing candles at 1.3540 and 0.9080 respectively. They have moved quite a lot intraday so i'm not looking for an entry today. Below those leves, the bias starts to shift to the downside and to the upside respectively.

UsdJpy has been well bid overnight and into today, and again this action is keeping me on hold from shorting CadJpy again off last week's lows. I don't see much value in it, given UsdJpy's action.

Finally, UsdCad woke up and has moved in a clear fashion above last week's high. I would fancy an entry (even today) around 1.0350/last week's high/overnight low.

Good Luck to all!

[jcpfx]

And now for the latest aberration from my side of town

I was wondering what you/anybody else is thinking about GbpUsd and GbpCad at these levels:




1) Prices have covered more than their ADR
2) On GbpUsd we are vibrating a daily flip - on GbpCad yesterday's low print
3) Possibility for them to coil back to 6020 & 6610s respectively?

[jcpfx]

And now for the latest aberration from my side of town

I was wondering what you/anybody else is thinking about GbpUsd and GbpCad at these levels:




1) Prices have covered more than their ADR
2) On GbpUsd we are vibrating a daily flip - on GbpCad yesterday's low print
3) Possibility for them to coil back to 6020 & 6610s respectively?

Well...the market showed me quite quickly what it thought of that reasoning!