I come to think of a quote from one of my favourite trading books that I forgot to mention to you when you asked: "Expect nothing, be prepared for everything." The book is Zen In The Markets by Edward Allen Toppel, a book that is unique as it is ...

Medici trades the London open

GM everybody. Nice 'line in the sand' at 5975 at the MS1 level, also 61.8% of the end of Dec move up at 5986 and the early July 09 bottom at 5982. Should be interesting.

Medici trades the London open

Thanks very much for taking the time for clear and detailed explanation. That amounts to the building blocks of something that could be tested statistically and implemented mechanically. Would be interesting. But I don't know if MA trading suits me. ...

Medici trades the London open

Hi Annie, and thanks for kind words. Glad to hear that these posts are providing value. I can identify with what you are saying, as I have been (and still sometimes am) suffering from directional bias. My way out of that was not to invest belief in ...

Medici trades the London open

Thank you.

Medici trades the London open

Thanks Cesare, not that I intended to be cool but rather honour the first fx dealer in history. The Medici's were the first to make a business out of making market in currencies.

Medici trades the London open

4480 was the October low, as visible on a daily chart, price action confirmed the short. You have a nice day too! I'm out for some errands soon.

Medici trades the London open

Thanks, very interesting. You seem to rely on these EMAs on 1min charts. How did you arrive at those?

Medici trades the London open

Session trends and reversal patterns — And here's my take on it. There was a 5min head & shoulder pattern clearly indicating a short at 6143. Occurring right after 7am, it is a sign that there will be a substantial journey down. For that ...

Medici trades the London open

Thank you, but I am not particularly pleased with today's performance. While I get my daily 50 with some consistency, the opportunity was obviously much bigger today. I got the 4480 entry right in the Euro but didn't hold on. Mental sluggishness ...

Medici trades the London open

Out as daily profit target reached.

Medici trades the London open

Short Euro from 4417

Medici trades the London open

Well, the answer is on screen now....but this brings me on to another topic that I have been meaning to write about - session trends and reversal patterns, as they apply to the European morning. More about that in another post.

Medici trades the London open

Out for 25.

Medici trades the London open

Short from 6100. The good old 8am trick.

Medici trades the London open

Let's go for another short. This may have some way to go on the downside after 8am.

Medici trades the London open

The buying is over, I think, but will there be much selling?

Medici trades the London open

These moves are mostly about the dollar and correlations with other dollar pairs are helpful in identifying support and resistance levels. The Aussie has been particularly perky lately and therefore a good sentiment indicator.

Medici trades the London open

Out for about 20.

Medici trades the London open

Short Euro from 4480

Medici trades the London open