Daily Outlook: Happy Friday PipHutters! I tightened my stop too early yesterday and was stopped out at 2760 but that was only a -10 pip loss – I can handle that. It is the 100+ losses that will drain your account! I then re-entered on a short after the 4h candle gave a nice long wick that failed to carry though on the bullish move and close right near resistance from yesterday’s signal at 2710. That was followed by a ~70 pip drop to 2745. I’ve since closed that and will remain flat for the day going into the weekend.
** This weekend I will be sending out some information about upcoming CandlePro training material,and an update on *gasp* the Premium service.
Flat before the weekend
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: Flat for the weekend. For those looking to trade I am bearish below 2700 and bullish above. See you Monday and check your email this weekend!
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September 10, 2010 at 05:07
hey Mr Mark,
When do you think we will be able to get CP… I have emailed you but I am sure you are to busy to read them…
September 10, 2010 at 05:11
That sounded kinda of mean but I did not mean it that way.. I meant You are busy with the new people in the CP program.. lol:)
September 10, 2010 at 05:20
@piphut Thanks, Mark. I look forward to the premo stuff. I think i am like a boxer that has taken too many kidney shots. For some reason this week has been a blur, not a good blur. I need to zero in on some trading patterns(method,strategy) and pick a more focused trading time of day.
Your efforts to spread light and understanding on FX trading are much appreciated.
September 10, 2010 at 05:34
GM all.
Thanks for the signals, Mark.
I added an update to my SwingPoint Candle trading: http://piphut.com/forum/viewtopic.php?f=6&t=264&start=0
September 10, 2010 at 05:53
GD morning Mark…
September 10, 2010 at 06:12
does mark ever come to the forum anymore..
September 10, 2010 at 06:18
He does, every day.
September 10, 2010 at 06:24
he was here a lot yestrday…
September 10, 2010 at 06:35
Alot, he had two entries.. I remember when he had like 10-20.. I wish he was here like he was before.. I understand though with the new service and all.. I just miss his wisdom he use to give though out the day….
September 10, 2010 at 06:58
I have been logged into the ProChat for over 3 hours but he hasn’t commented there either.
Must be sleeping and/or busy with the Premium.
September 10, 2010 at 06:17
A short reading material about Forex Scalping Cheat Sheets: http://www.triadformula.com/cheatsheets/TriadCheatSheets.pdf I don’t know how good it is but may contain some useful info.
September 10, 2010 at 06:51
Jason Fielder is a forex spammer of the highest order….
stick with PA fib PP and learn to trade without the aid of others and you will survive over the long run…
September 10, 2010 at 07:02
You may be right, but if you go to the link directly, you won’t have to give your e-mail address so he won’t send you spam. :)
September 10, 2010 at 07:22
I just got an email from Jason Fielder as a part of his promotion for Triad Formula 2.0. This was really cracking me up. The email reads:
I just posted a video of a “Squish-Squash” trade I did yesterday that snagged 22 pips faster than a dog raises his hind leg.
Alright, so I clicked the link to watch the video and to my surprise the video is 105 minutes long; close to two hours! Now I don’t have a problem staying in a trade that long to make profit, but when Jason is stating in the email: “snagged 22 pips faster than a dog raises his hind leg.” then I was expecting him to get in and out within seconds, and not two hours. In addition to this, there is a total of nine comments below the video and to me this seems like “paid comments” and not from people actually having some kind of interest in the product being sold. This is a cheesy way of making a blog post of page look popular. I am not stating that this is what they are doing; I just think it looks that way.
stay FAR away from spammers like this if you are new
September 10, 2010 at 07:37
That Jason fielder guy reminds me of someone on speed.. I got through like 1/4 of his video and could not handle it anymore I will stick to Mark and Sam…
September 10, 2010 at 07:07
Hey TTom,,, You for got Supply and demand
September 10, 2010 at 07:28
its only S/R nothing more
September 10, 2010 at 07:40
yeh thats what I said Supply and demand..lol:) Glad you are here tonight we me it seems kinda dead..
September 10, 2010 at 06:52
tnx for the book man.should make a good read.tnx
September 10, 2010 at 06:31
Morning all, thanks @piphut for the signal.
For those with the “courage” to trade the news. Find below a high impact news release today and how to trade it.
NEWS TRADING
Fri September 10, 2010
[7:00am NY Time]
We’ll be getting the Canadian Employment Change release number
tomorrow, here is the forecast:
CA Employment Change Forecast 30K Previous -9.3K
(Unemployment Rate 8.0%)
ACTION: USDCAD BUY -1K SELL 55K
The Trade Plan
Canadian Employment Change report will be release at 7:00am sharp
today, and it’s the only high impact tradable news releases today.
What I am looking for is a minimum deviation of around 30K, or the
difference between the Forecast number (30K) versus the actual
release number; therefore if we get a positive 55K of release, we
should see demand for the CAD rise, therefore we should SELL
USD/CAD; however, if we get a negative number, such as -1K or worse,
we should see some weakness in the CAD, and that will be my cue to
BUY USD/CAD pair.
I’ll also pay close attention to the unemployment rate, which stands
at 8.0%, from last month’s release. As long as this number does not
conflict with the Employment Changes, we should follow the direction
of the news release. If we get a conflict, such as better Employment
Changes but higher Unemployment Rate, then we’ll need to look at the
context of the market before take the trade. – Henry Liu
September 10, 2010 at 06:50
Just how I see it…Eu Tech
[URL=http://img528.imageshack.us/i/20100909eute
September 10, 2010 at 06:51
Sorry here it is I think?????
http://yfrog.com/eo20100909eutechp
September 10, 2010 at 07:05
My thoughts on the GBP/USD
http://yfrog.com/5u20100909gbptechp
September 10, 2010 at 07:42
I just add a shot at 1.5441…My thought just same as yours, but now I don’t think it’s gonna come back.
What do You think?
September 10, 2010 at 07:57
Yeh it hit that area pretty hard.. I would look for 477 next…
September 10, 2010 at 07:57
478 is R1
September 10, 2010 at 08:03
Iceman here is my chart
http://yfrog.com/n520100910gbptechp
September 10, 2010 at 08:14
Thanks! but it’s just keep dancin’ around the 50% fibs…now I’ll patiently waiting…
Any ideas SDFX?
September 10, 2010 at 08:31
I am on the side lines now till this thing hit an area I feel is low risk and gives me a rejection wick or bearish engulfing… If it does not trigger today that’s ok I would rather have my money in my trading account than someone else’s…. Some times win things look confusing the best thing to do is sit back and wait….:)
September 10, 2010 at 08:40
Agreed!
September 10, 2010 at 07:08
“It is important to remember that there is no need to spend wasted years looking for complicated setups or the next Holy Grail. There are very simple setups out there to use. Some of the best traders I know have been trading the same setup, on the same time frame, on the same market for 20 years. They don’t care about anything else, and they don’t want to learn about anything else. This works for them, and they are the masters of this setup. They have nothing else coming in to interfere with their focus”
September 10, 2010 at 07:13
It is important for you to remember that most of us are not among the best traders and haven’t been trading for years, thus we are still looking for the setup that can be profitable for years.
September 10, 2010 at 07:24
but not from forex spammers you will not find it..design your own, master PA fibs and keep it simple
September 10, 2010 at 07:26
and i do well remember that simple fact, its why i protest people like Jason fielder, he makes his living not from trading but sell bullsh!t to newbie traders and giving them garbage to keep them from becoming profitable traders
September 10, 2010 at 07:37
Again, you may be right, but we need to gather info especially at the beginning. You can’t just open up a trading platform and start trading. You need to see how different people use different indicators, PA and so on. After that it’s common sense to weed out the bad stuff by trial and error or on the recommendation of more experienced people like you.
Of course there will always be suckers because “there’s a sucker born every minute”. :)
September 10, 2010 at 07:40
Here is a link to a respected and really helpful site on Price Action.
Nial Fuller is definitely not a spammer.
http://www.learntotradethemarket.com/
September 10, 2010 at 07:15
I am the same way I look for where seller have been and where buyers have been.. I do not believe this is all random but set up by the big guys… I have my engulfing set ups and I stick to them.. but only in Supply and demand area’s.. It might not work for every one but it does for me and I am stuck to it…
September 10, 2010 at 08:00
@ttom, pls can you make this set ups well known to us, i appreciate all you have been doing here for us.
September 10, 2010 at 15:58
i belive that @ttom. my experience is just around 8 months now, but during that short period i was able to build a trading system, believe me i spend a maximum of an hour in the market every trading day, and make between 50-110 pips most trading days. i just open my position around 5am GMT (whenever i spot a good trade), and check for 15 mins only (around 10am, 3pm and finally 9pm all in GMT). once i set a trade i just let the market “do its thing” cos i know for sure i cant control it by continually staring at it. i get have loosing trades sometimes, but usually my win to loss ratio is around 5:1. i learnt alot from this site, but got most of the market psychology from reading most of the articles at Niel Fuller’s site. some of you might wanna check it out : http://www.learntotradethemarket.com
All the best fello traders!
September 10, 2010 at 07:21
Does’nt anyone post charts here about what they see… C’mon let be a family of traders helping traders…. No one should feel like they can’t post a chart.. We all see thing different and should feel safe posting our thoughts….
September 10, 2010 at 07:23
My spelling is bad.. I think sometimes my first grader is better at spelling than me.. Sorry…
September 10, 2010 at 07:24
Thursday was really a ‘mess’ day for me. I was unable to get on the trend, I lost 90PIP. I went short @680 and then short again @710. I’m flat for Fri and Wkend as well. So Have a nice weekend ppl.
September 10, 2010 at 07:26
Ouch.. I have been there.. Just keep positive about next week… Have a great week end see ya on Monday…:)
September 10, 2010 at 07:32
Anyone have any thoughts on the Aud/USD…… I had a chance to short up at 9250 but I chickened out…
September 10, 2010 at 07:44
Hello it’s London……. Time…..
September 10, 2010 at 07:47
@ttom You are right about Jason Fielder…irritating spammer, just a load of rubbish!!
September 10, 2010 at 07:50
Mongoose I with you.. The only ones I follow are Mark Norris and Sam Seiden.. These guy have changed my life..
September 10, 2010 at 08:09
I pulled the Fib between Daily PP and Daily R1 and look what I found on the 1M chart. Price respected all the Fib numbers.
Anyone has more info on this kind of Fib use? Or is it just a coincidence?
http://www.kephost.com/images3/mtahln5mkkyj5cjo89nk.png
September 10, 2010 at 08:12
Never got good at the one min charts but that does not mean you can not master them.. If it works for you than take a small order and see what happens.. :) One min for me is to fast I am kinda slow in the thinking area for that….. I love that chart….
September 10, 2010 at 08:17
I didn’t mean to trade it. I was just surprised to see that even the 1M Fibs are respected by PA.
September 10, 2010 at 08:25
Oh yeh.. There are a lot of people the use the one min charts… It’d just not something I ever got into.. I think my brain is to slow and not used to the quick moves.. :)
September 10, 2010 at 08:15
Hello to all and good luck,we are back to work. So many changes!!! Thank you @Mark,@Piphut, good to see old friends, because this is what you are for us. Will get our PayPal account in place. Very interested in CP and premium.Good pipping!!!
September 10, 2010 at 08:36
Price entering my zone that I posted earlier.. Lets see what happens….
http://yfrog.com/eo20100909eutechp
September 10, 2010 at 08:40
I will enter short only on a bear signal… That last hourly candle show momentum is on bulls side right now…
September 10, 2010 at 08:38
hey what happened to EUR?The only news i know of was suppose to just a midium impact but look at that
September 10, 2010 at 08:44
We are closer to higher time frame support.. Less seller’s gave way to more buyers…
USD/NOk ( witch follows USDX ) was on it’s way to support, they are inverse to each other USD/NOK and the EUR/USD….
See how USD/NOK hit demand and is now going up EUR/USD is going down…. I am still on the side lines till clear sig is given….
September 10, 2010 at 08:44
I meant to say we were closer to higher time frame support… sorry
September 10, 2010 at 10:23
i can send my chart but how wher is the link
September 10, 2010 at 10:38
Hello my dear Sahara. Not enough time to be in here lately.
Anyway, its Wooly Bully again according to me :-) Lets see if we can breach a couple of resistances here today :-)
By the way, Mark must have almost peeped in his pants today while making up his signal this morning I guess. He probably almost couldnt hold it and thats why the signal is such a short one with hardly any further information/indication and lacking of words.
To bad and to sad to notice that Piphut seems to be in a changing mood and the Good Ole Days are gone…Or am I the only one observing this?
Good luck my friend, gotta go soon again.
September 10, 2010 at 10:48
my friend i m here all the time and y esterday zubair asked abt you he said he wll be here !!! i wll see hw we can chnge our mail !! i m so glad to discuss togther!!!!
September 10, 2010 at 10:56
and piphut have chged in better all “old piphutters” are in CP but they come back in the forum hungarian uk stev adg sabina and others;;; it was a very nice experience last few months but now we will continue together with other ways my friend
September 10, 2010 at 14:11
Nothing is gone! The usual faces are still around and commenthing and a few new ones as well. It’s the quality that matters and not the number of comments. :)
September 10, 2010 at 17:27
Johnny who the **** are you to judge mark and say he is peeing in his pants or whatever bullshit? Why dont you crawl back to the hole you came from , noone wants you here – you are a useless spammer and nothing else. One day you are happy and overjoyed and the other you lose your account and come crying and talking crap. Make everyone here a favor and dissapear for good.
September 10, 2010 at 18:15
Ouch.. That’s a bit harsh. You’re wrong about nobody wanting to have Johnny around.
And I’m 101% sure that he was just joking about the pants thing. :D
Note to @Johnny:
Better start using sarcasm tags on the internet. lol
Peace
September 10, 2010 at 19:27
Hi there Fenrir. Dont worry…I just laughed a lot about this guy’s reaction! And def. did not react to it :-)
Appreciate your comment anyway. (Seems you know the past better then he does)
Good luck and take care.
September 10, 2010 at 18:35
@johnny – signal is short because I’m flat on the day (it is Friday).
September 10, 2010 at 19:22
@PIPHUT I know you’re busy lately and know its Friday (So 9 out of 10 you wont trade) You know me better and also know that I was just trying to be funny (But seems Jokes dont come as good anymore these days, the ‘doin time’ situation must have had some negative effect on me :-) )
Frankly, still have to get used to Piphuts new stuff and new set up. Gettin Old :-)
Take care.
September 10, 2010 at 21:58
whooly bully be careful or you might get a nasty surpirse……….yes you are right about your observations
September 11, 2010 at 15:32
Dont worry Double T, I already shifted in reverse mode! The Hill seemed to steep to climb up yesterday. And after all, going down the mountain is much easier and lots more fun :-) But…, I like surprises, the nasty, or better, the naughty ones :-) Have a good weekend.
September 11, 2010 at 16:53
MY friend!
September 10, 2010 at 11:04
http://yfrog.com/73euro4hj
September 10, 2010 at 11:19
http://yfrog.com/j4today30mneurop i work with this
September 10, 2010 at 12:02
the round (up last one in the right) area where i short with confirmaion(bearish candels) the line near 2720 i try to go long(if possible) untill 50% fib and remove my sl if go up all in 30mn charts take care it s clear for me but hve y plan!!!
September 10, 2010 at 15:38
http://img269.imageshack.us/img269/4681/27010605.png 3h
September 12, 2010 at 15:50
waiting week end news(pmum)
September 12, 2010 at 20:34
Deutsche Bank issuing billions of new shares.
Released: September 12, 2010 5:47 p.m.
Last edited : September 12, 2010 6:28 p.m.
FRANKFURT – Deutsche Bank expects at least 9.8 billion euros to pick up the issue of new shares. Germany ‘s largest bank announced Sunday the issue and said the money include using to finance the acquisition of Postbank .
rumors surfaced Friday that Deutsche Bank with the proceeds of the rights issue would be balance in line with the new capital and liquidity requirements in the Basel III agreement, which should be completed this weekend .
Deutsche Bank said Sunday that the capital increase ” first ” is intended to cover the acquisition of Postbank . But the capital increase , the company ” for regulatory changes and growth of the business ” .
The bank offers shareholders of Postbank between EUR 24 and EUR 25 per share. An exact price per share within one week should be known. Deutsche Bank now owns 29.95 percent in Postbank .
Equity
Through this capital increase, ” Deutsche Bank intends to make capital required for the planned consolidation of Postbank as possible, to ensure ” said chief executive Josef Ackermann in the press release .
” If we can offer our strong position in our home market , strengthen leading position in European consumer banking business and take over the sales mix of Deutsche Bank significantly increase . ”
Deutsche Bank expects a total of approximately 308 million new shares to start teaching in Germany and the United States. The share capital is increased by 790 million euros to a total of 2.38 billion euros.
30 billion
The rights issue is reportedly the largest in the history of Deutsche Bank and the second largest in Germany. Deutsche Bank now has a market value of around 30 billion euros , Financial Times wrote on Friday .
talk in Basel this weekend supervisors and central bank governors to adapt the rules for financial institutions . The main adjustment relates to the amount of capital that banks must hold . The lower limit for so-called ‘ core tier 1 ratio , a measure of the strength of capital a bank will go up.
Guidelines
The announced rights offering of Deutsche Bank is seen as a step to the first bank to collect money on the stock before other banks that have to do to satisfy the new directives.
Postbank is the largest consumer bank in Germany with 14.5 million customers and 850 branches . Postbank also offers services to customers through post offices . Deutsche Bank has nearly ten million customers in Germany and has over nine hundred locations .
September 12, 2010 at 20:37
http://www.marketwatch.com/story/new-basel-capital-rules-nokia-event-in-spotlight-2010-09-11
September 12, 2010 at 20:44
http://www.ibtimes.com/news/61480/20100912/forex/eur-usd/eurusd-weekly-outlook-forecast-technical-chart-analysis-forex-fx.htm
September 12, 2010 at 21:05
@TTOM Yes my friend, Sundaynight at opening of the Market it surely was a nasty surpise :-) A Gap to the upside of about 35/40 pips…. Thanks for the warning :-) Rgds, Whooly Bully
September 12, 2010 at 21:10
Markets open decidedly against the dollar and yen with risk appetite back in play…..
September 13, 2010 at 05:03
@TTOM Whooly Bully made nearly 100 pips overnight (Asian session, Market open) :-) Thanks for the nasty surprise my friend :-)
September 13, 2010 at 05:19
Hey I hope you all have a great week of trading:)
Matthew
September 13, 2010 at 05:31
Hey there Matthew. Are you Matthew-Iplusthree ??? Good luck to you too :-)
September 13, 2010 at 05:35
Hey Johnny.. Yeh it’s me, I had lost my other Id info so I started over.. Just this weekend going through some of my old Journal stuff I found my old login for the other account.. Funny how that works… :)
September 13, 2010 at 05:37
Well, I did like the family picture tho :-)
September 13, 2010 at 05:40
My little crossed eyed guy was cool.. I might put him back on.. It resembles me after looking at charts all day… lol:)