Thanks. 100% in line with my rules of watching price action at key levels at key times. Out when 6035 gave resistance. Now looking for possible re-entry. I need a dose of such discipline too after last week's mess...

Islander and Medici trade the European open

You're welcome, and thank you again for your posts on the same topic. The 5min doji after two big rounds of buying at the same level was a sitting duck. Don't know what brokers you use, but cable opened at the 6081 level in early interbank trade and ...

Islander and Medici trade the European open

Long from 6073, but cautious for now.

Islander and Medici trade the European open

GM all. The key level 6081 (38.2% of end of end of Dec up move), pivot/'line in the sand' overnight, held first test.

Islander and Medici trade the European open

Possible targets for the next few days — Following the surprisingly weak employment data, possible targets for the next few days: Cable could revisit be the good old 1.6272 level - 38.2% of the early July range, and about 50% of the December ...

Islander and Medici trade the European open

1min MAs - an example — Here's an example of using MAs on a 1min chart to trade the Euro post-NFP. The MAs are 10, 30, and 60 period WMAs. More than 150 pips in a few hours without sticking your neck out trying to pick tops or bottoms.

Islander and Medici trade the European open

MAs on 1min charts — Islander's contributions has reawakened my interest in trading moving averages on 1min charts. Thank you! Yesterday I re-read the section How to Trade Price Action in Agustin Silvani's book Beat the Forex Dealer. Silvani ...

Islander and Medici trade the European open

Morning ranges — For target setting and business planning, here's a histogram of the 6-9am ranges in cable over three years, from 25/10/06 to 23/11/09. The average range is 80 pips, and the median range is 70 pips. 80% of the mornings, the ...

Islander and Medici trade the European open

More evidence in support of trading the European open — For those interested in evidence in support of the basis of this thread, attached you can find an academic research paper by Carol Olser and collaborator on the reasons for the extreme ...

Islander and Medici trade the European open

That's interesting. Thanks, I'll take a look at that. Today was a classic fade. Half an hour of buying up to strong levels, 6110 and 4410, and then reverse. Have a good weekend (in spite of your horrible weather...) and see you Monday.

Islander and Medici trade the European open

Same to you! And I am sure you've heard about the weather/snow conditions in the UK, so don't complain

Islander and Medici trade the European open

LOL! I'm glad for you. Not surprised about the Euro drop. This will be an interesting afternoon.

Islander and Medici trade the European open

How do you obtain that?

Islander and Medici trade the European open

Not in my experience, but around 9am (for 9.30 releases) liquidity may start to dry up and things become more unpredictable. So I trade as usual on news days. Sometimes there's a 'wait-and-see' session before that but you never know, so it's just a ...

Islander and Medici trade the European open

I closed mine there too, when 23.6% of the morning session held. Took a short when retest of 76.4% of yesterday failed and closed again at 23.6% of this morning. It's a fib day....

Islander and Medici trade the European open

Morning analysis — Nice chart, and here's mine. The fibs are from the end of Dec up move.

Islander and Medici trade the European open

A good rule — Referring to my earlier rant on the old thread about session trends and reversal patterns: If one gets a good entry in the right direction around 7am, such as at 5927 today, it is more often than not a good idea to simply hold it ...

Islander and Medici trade the European open

Apart from PPI, this may have had an impact: url

Islander and Medici trade the European open

Too bad. Is it the thread chatting that loosens your discipline?

Islander and Medici trade the European open

Note that the spike up and reversal happened at exactly 9.30, a point in time when reversals often happen.

Islander and Medici trade the European open