** Part 3 of the “Advanced Trading Strategies” is out! Check it out here. **
Daily Outlook: Good morning/evening, PipHutters! Short signal today. To sum it up: I’m bearish. We had a huge bearish push yesterday and bulls haven’t been able to stampede themeselves out of a paper bag, let alone push the price action up at all.
2720 is my key level
As always CP users can check multiple pairs/timeframes for intraday candlestick signals and you should watch out for news events on the forex calendar.
Trading Idea: I’m looking to sell with confirmation beneath 2720 and long above 2750 (between the two is a dead zone). From 2720 short targets are 2695, 2665, 2635 and 2605 for 115 pips profit.
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September 8, 2010 at 08:40
Sites looking great Mark. I can’t do the $99 monthly yet but love the new layout and all you do.. I have been with you a year now, it gets better and better… Thanks for all you do…:)
September 8, 2010 at 09:00
hello everibody! today s the day!
September 8, 2010 at 09:16
@piphut thanks, Mark. more to study.
September 8, 2010 at 09:37
thanks mark!!! looks like the European Bank saga of woe continues, the major EU Banks have huge exposure, if they go down then everything is cactus as they say down under. Until the ECB gets its house in order then is picnic time for us bears and roasted bull flesh is definitely on the menu!!!
September 8, 2010 at 09:47
Hi Mark, signal looks a bit agressive today?! Thanks for part 3, saw it 3 days before :-)
September 8, 2010 at 09:55
Thank you Mark.
September 8, 2010 at 11:00
Hallo Mark
Maybe I got this wrong?? 4 hourly 3 bullish candles(2 doji’s and one hammer)!
And there is a hidden Bullish divergence?
Can you maybe give me some advice?
Or anyone??
Thank you
September 8, 2010 at 11:14
from 12770 will go down (with confirmation). Just my idea
September 8, 2010 at 14:29
Yup….1.2770 is an important area. Hope the market rejects it, and doesn’t do anything funny.
September 8, 2010 at 11:31
Good afternoon all.
September 8, 2010 at 14:33
Hey Kayus, how are you?
I’m CP member now, but still hang out here.
September 8, 2010 at 17:09
U see, u thought i will join first, i couldnt hook due to technical hitches i will join at next opportunity or if Mark create a fast lane for me meanwhile how is the CP performing, i may not be able to be active trading of on this forum till next week. Multi things reuest for my attention. Hope your trade is well, our swissy is really holding on to the buck. My long was stoped out.
September 8, 2010 at 17:52
My Trade is going well so far.I have a short from 1.2760…and the last 30m CPro just recommended short for 20 more pips.
I think CPPro is great especially for London and early US opening hours…for EURUSD. I think it is a scalper’s dream come true too, if you take event risk into consideration.
September 8, 2010 at 19:04
Good for you, at times scalper earn more in the long run than we major tradeer school. I cant wait to integrate the CP into my planing and decision making mechanism.
September 8, 2010 at 17:23
I am particularly intersted in knowing how CP is affecting your trade or u have not started to use it? waiting for your friendly insider jist.
September 8, 2010 at 17:25
@kayus – FYI you can read the journals of CP users in the forums:
http://piphut.com/forum/viewforum.php?f=6
September 8, 2010 at 17:45
tnx, hope to join next week IF the gate will be opened for me. cheers
September 8, 2010 at 12:03
buy EU now. TP 70 pips.
September 8, 2010 at 14:52
Hi masundin, That was a great call.
September 8, 2010 at 12:23
EUR/USD has held its 100-day sma so far. This sma comes ins around 1.2660/70 and may provide near term support for the pair
September 8, 2010 at 17:48
Hi Friend, where have u been, hope all is okay? nice to see, did u eventual join the CP users or u still dont like to give except to collect :)
September 8, 2010 at 14:25
Hi all. I was awy for some time. Now i’m back.
September 8, 2010 at 17:50
Hi Friend, i missed your post and was wondering if you got something better than FX trading and didnt want to share with friends in the forum. Hahah! Welcome back and hope you found your feetings in the right direction. Cheers
September 8, 2010 at 14:28
everyone bullish now??
Mark, are you bullish now??
September 8, 2010 at 14:36
Bullish on which pair dude?
September 8, 2010 at 17:52
My friend it pay to trade alone, it is not the best trading with the crowd infact it is better to go contra to the crowd. Remember,you WALK with multitude, RUN with few and FLY alone. choose your earning rate.
September 8, 2010 at 14:42
I took +100 pips profit on USDCAD today. :) now im out
September 8, 2010 at 14:54
Hi zubair123, have been looking for you since long. Welcome back. would be looking forward to your trading ideas.
September 8, 2010 at 20:48
yes i will keep posting. i was out of the country
September 8, 2010 at 23:12
Welcome back, glad to see you are doing well
September 8, 2010 at 16:35
nice to see y again zubair johnny asked about y i said mb ramadan that s why y are not in the area with pakistan news!!!!
September 8, 2010 at 17:54
wao! how will i get my cut because i didnt trade today but wont mind sharing the success of a friend however, dont call me when the loss are recorded.
September 8, 2010 at 14:52
Hi all!
EUR/USD now what? sell?
September 8, 2010 at 15:06
buy 2750 above
September 8, 2010 at 15:04
Thank you very much Mark
September 8, 2010 at 16:12
Hi guys.
Here is my SwingPoint Candle trading strategy.
It’s posted in the CandlePro Trading forum but you don’t absolutely need CP to utilize the strategy.
http://piphut.com/forum/viewtopic.php?f=6&t=264
September 8, 2010 at 17:16
The Fed’s Beige Book is due up in about 45 minutes…It’s difficult to see how the district by district review can provoke much optimism, but headlines are likely to indicate that the recovery continues moderately in most districts, and perhaps that will be enough. The risk however, is that the report notes the backsliding that has become evident in recent data, prompting a reversal of today’s gains in risk assets. The last Beige Book on July 28 saw a minor dip in risk assets, with AUD/JPY dropping from about 78.30 to a low near 77.80 around the close. The S&P 500 dropped about 5 pts.
September 8, 2010 at 17:20
is it our friend johnny!!
September 8, 2010 at 17:23
Hi Sahara, Sorry I was unable to come in here these last few days. Dont ask why not, lots of worries on my head. How are you?
September 8, 2010 at 17:26
The US/EUR Stocks in green and the eases of concerns on Portuguese Bond Auction are lifting us up to 2800/2850 :-) Lets see
September 8, 2010 at 17:56
As Bulish as ever
September 8, 2010 at 17:26
i was alone on monday!!! nice my friend i see that zubair is again here!!!!
September 8, 2010 at 17:28
I am trading the E/J Long at the moment and once E/U is passed 2750/60 might jump long in there too :-)
September 8, 2010 at 17:29
yes johnny the north is open!!!!
September 8, 2010 at 17:31
Watch you step once the Fed Beige Book comes out ok :-) Although I dont think it will create some problem to E/U , take care my friend. Have to go out again in 30 minutes from now but leave my E/J running and when I come back I hope it has reach the sealing :-)
September 8, 2010 at 17:35
yen is not my friend mb later but fr the moment only Euro monday i was short this night long and now waiting confirmation to go long as we said in friday to see area 30
September 8, 2010 at 19:00
But first bus stop is South friend
September 8, 2010 at 17:51
eurodollar is topping on all TF’s
September 8, 2010 at 17:53
Bonds, notes and the Eurodollar are making a topping pattern. A break of the low will hit technical stops
September 8, 2010 at 17:55
hi ttom i have not understand and my “google translate” does not work
September 8, 2010 at 17:58
i am not sure what there is to translate??
September 8, 2010 at 17:56
If S/P 500 holds 1095 both Gbp and Eur will make moves against the Usd, its a wait and see right now how we close today but i am not looking too far north
September 8, 2010 at 17:59
ok ttom north if daily closed after 2760!! i hve bearish and bullish one !!!
September 8, 2010 at 18:02
Beige Book Sees “Widespread Signs Of Deceleration
September 8, 2010 at 18:03
DUH, you print money to support and fix nothing and expect anything less than this?
September 8, 2010 at 18:17
good old keynesian economics
September 8, 2010 at 18:05
GU under 5520 and EU under 2776 lose will see downside extension
September 8, 2010 at 18:20
God I love the president, never been a bigger smoke an mirrors magic show in all of histroy
September 8, 2010 at 18:21
5 of 12 districts report mixed conditions or deceleration of activity per Beige Book
September 8, 2010 at 18:22
this from our “leader”
1) Economy is growing… Really ? where? I though real GDP was -.5%… 2)The Financial markets have stabilized. again really? where?
September 8, 2010 at 18:23
and the third lie he just told a nation and world
3) The private sector has created jobs for the past 8 months….
yea at a rate of 1 for every 15 it lost for the PREVIOUS 8 months. this is GROWTH??
September 8, 2010 at 18:26
eurodollar will have a very hard time with any sustained rally…still shorting the pops until charts tell otherwise
September 8, 2010 at 18:29
If the employment figures out tomorrow show the U.S.
economy is not going into a recession then the U.S. dollar will rise and the Eurodollar will fall.
September 8, 2010 at 18:29
China bought debt from Japan yesterday rather than investing in the T-Bond
September 8, 2010 at 18:30
The candlestick
tails on T bonds weekly chart will define the top when the low of 1.30 is broken. Option traders can buy out of the
money puts to take advantage of this move.
September 8, 2010 at 18:31
The last short was triggered near 134 with stops above 135.50.
These stops are to far away for floor traders to push out weak shorts
September 8, 2010 at 18:32
The high line is the Fib Ext 1.620 price 126.29 on T notes weekly. The candlestick tails show profit taking on long trade for T-Notes
September 8, 2010 at 18:33
The balance beam of the world economy is now set with the developed markets of Europe
and the U.S. in to much debt because of a socialistic voting pattern and the emerging markets
hungry for a better living.
News today by Goldman: Emerging-Nation stock rising to 80 Trillion by 2030 with China
becoming the World’s Largest Stock Market.
If employment news for the U.S. is accepted and the indices hold support bonds and notes
should fall. The metals will time a high. The dollar should strengthen and the
Euro should weaken.
September 8, 2010 at 18:37
AND right before midterms I will be very surprised if we see bad numbers AND after the speech today from our ‘leader’ saying jobs are being created, he will really look stupid ‘der’
if the numbers tomorrow are bad
September 8, 2010 at 18:42
now see this
http://www.youtube.com/watch?v=cTl3U6aSd2w
September 8, 2010 at 18:43
sorry Mark for hoggin the posts
September 8, 2010 at 18:44
thought i would point out like Paul Harvey use to say ” the rest of the story”
September 8, 2010 at 18:50
this federer!!
September 8, 2010 at 18:52
yep
needed a break from all the ramblings again
September 8, 2010 at 18:54
pretty awesome i think..dont know if I could have stood there with a tennis ball coming at my head that fast
September 8, 2010 at 18:59
we hve the same thing in this area!!!situation is very bad …..and it goes in the same direction ;;; this winter wll be hard for many people!!!
September 8, 2010 at 19:01
where are you located?
September 8, 2010 at 19:09
France
September 8, 2010 at 19:11
how do you see the France pension reform affecting the ones you know?
September 8, 2010 at 19:12
and north africa
September 8, 2010 at 19:15
they “heard” nothing another strike in 15 days but the gvt does not move wi will be millions again n the street…;
September 8, 2010 at 19:17
gvt found billions for banks but a few for people NADA “nothing”
September 8, 2010 at 19:27
its always good to hear from others around the planet on how things are effecting them on the grassroot level
in america things are in the toilet, middle america is hurting BAD, do not be fooled by the mass media Bullcrap, jobs that were lost will not return and nothing has been “fixed” only patched….housing is also still horrible and IMHO still has a ways to go before a true bottom is found in it. Many homeowners are now just sitting in thier houses waiting for the banks to tell them to leave, they do not care..when you have a house worth half of what is owed you tend to feel that way
until housing and jobs are fixed there cannot be a recovery in america..simple as that
September 8, 2010 at 19:33
north africa
I really need to take my laptop and just GO and visit and travel
if i come there can we have drinks?
September 8, 2010 at 19:34
this morning i was “discuss” with a friend i said last week “economist” was very happy and $ go up becse we only loose 54k jobs i think (waiting more) look where we are!!! power of monney; humain is nothing
September 8, 2010 at 20:01
wich drink!!! like johnny JW !!!(camel stay more then 5 days no drinking and 15 days no eating) and we hve nice wine !!!
September 8, 2010 at 19:13
It’s good to see the old Tom back! Tom how long have you been with PipHut? I seem to remember you coming and going over the years or am I mistaken?
September 8, 2010 at 19:21
Mark I have been around almost as long as you have had piphut running and will be around here and there was long as it is here. ;)
I have always admired your skills at pure price action analysis no squiggly lines involved, you are truly among THEE best in forex at it.
I look forward to many more years with you.
September 8, 2010 at 18:55
$cad has made the min fib requirement at 23.6 for further downside extension from BO candle..still a no trade for me but something to watch in the coming sessions once the market absorbs the rate hike
September 8, 2010 at 19:02
EU at old support/resistance 2722 right now, a close under here will be major bearish
September 8, 2010 at 19:49
a quetion why 2722( my fib 23.6 is near 2734)
September 8, 2010 at 19:57
its an old line i have on my chart, one of many from past support/resistance points where price has stalled up or down, i mark these for future reference, it is not a major point of S/R only one where at one time price was stopped or consolidated in its moves
September 8, 2010 at 19:23
Just back home again and I see the Public Library has opened its doors again :-) Lots of postings to read first, Thanks TTom.
September 8, 2010 at 19:26
u are right,how i wish the site AUDIO feature that reads out the content that will proberly make here a better school. (Lecture without having to sit for exam is my favourite, :)
September 8, 2010 at 19:28
ok, i get the hint Johhny
September 8, 2010 at 19:31
its all yours again, i have much to do and errands to run, will check back at close to see where we end up, one thing for sure it will not be above 2776
September 8, 2010 at 19:33
I think he was being serious when he said he likes your posts.
September 8, 2010 at 19:35
I know, gotta jerk his chain tho now and then or he might get too comfortable
September 8, 2010 at 19:35
Hope you didnt misunderstood TTom. I (and many more in here) love to see your postings with mostly valuable and true information. So do keep them coming! Take care.
September 8, 2010 at 19:36
not at all, mine was made in jest
its hard to read the expressions in keystrokes
September 8, 2010 at 19:42
:-) Well, seems I still have to get used to it all. But then again, when you pratice enough you get used to almost everything, even hanging (If you hang long enough….The rope is already around my neck, just wainting for the hangman)
September 8, 2010 at 19:42
ttom y are someone who comments about” things ” you know it s a pleasure to read y
September 8, 2010 at 19:24
my short on e/u and long on usd/chf doing well, just thought of grabbing some leftover pips and i have about 20 ready to be picked. but will waith for Tp which may give a total of 80pips everything been equal
September 8, 2010 at 20:08
This is non-forex related but an interesting interactive history of Europe;
http://www.worldology.com/Europe/europe_history_lg.htm
September 8, 2010 at 20:16
a littel mistake btwenn lands of iberian and basque !
September 8, 2010 at 20:39
Nice site Mark. However in the Dutch Empire they forgot to mention New Amsterdam (Now New York). :-)
September 8, 2010 at 20:19
and forget “carthage”
September 8, 2010 at 20:29
good night all
September 8, 2010 at 20:34
Night @saharaview, see you tomorrow
September 8, 2010 at 20:39
GN Sahara, take care
September 8, 2010 at 21:30
todays comment is quite encouraging. Hope the known quality of contents now returning. Good post Ttom, Johnny, Sahara and the Master himself: Sir Mark
September 9, 2010 at 06:19
gm all hve a nice pipping day (after news)
September 9, 2010 at 06:34
Hi mark. Good job u are doing. Please how can I trade with gator oscillator?
Thanks
September 9, 2010 at 06:52
morning all. @piphut i guess free signals is now 2nd fiddle. well we understand
September 9, 2010 at 06:57
Free signal is fresh off the press:
http://piphut.com/2010/09/forex-signals-eurusd-bearish-below-2720/
September 9, 2010 at 14:19
Hey everyone ! Well ive only been Forex trading 6 weeks and have already learnt alot ! I was paying for a service which only traded the GBPUSD and sent two trades a day… was $4k down in 4 weeks based on 40 cents a pip at 100/1 ! Past 2 weeks ive been placing my own trades and have got my balance almost back to even ! Doing less trades, selling high and buying low :) Not been so concerned on SL but more TP ! Had trades down but have tended to pull back and hit my TP levels. Must admit at first i was just playing it like red and black on the roulette table ! I see from other comments that Mark obviously knows what hes doing so no need to ask but i will… Is the service he provides “candlepro” highly recommended ? Im in this to make money and im enjoying the ride.. now lol. Also can someone tell me.. when Oil is up does that normally mean the $ goes down ? If the markets are up, does that mean the currency will be up also ? Thank you in advance :)