Pivots and Fibonacci levels, 22 December — A 7am long based on "the line in the sand", and then a short at 8am based on pivot, 50% Fibonacci and double zero levels. The short is also a trend continuation trade, where retracement to the broken ...

Medici trades the London open

The line in the sand — Look out for S&R levels that have been battle lines over the past 12-24 hours. Retracement to such levels often lead to breakout trades. From 15 December 2009.

Medici trades the London open

Let the trend be your friend — Here some classic trend continuation trades at 6am and 7am. You rarely see more than three consecutive ones before consolidation. From 25-27 August 2009.

Medici trades the London open

Head and Shoulder patterns — Look out for H&S patterns, which usually are very profitable. Here's two in the same chart with a remarkable symmetry. From 24-25 June 2009.

Medici trades the London open

Continuation from Fibonacci level — A continuation trade at 6am after retracement to 38.2% Fibonacci level. From 7 December after the suprisingly strong NFP data on Friday 3 December.

Medici trades the London open

Hi okrutny, good to see you too! Thin markets indeed, which doesn't mean that you can't make money. It's just a different game. I have turned on PMs, so feel free to send me a message.

Medici trades the London open

Morning summary — A sleepy morning with range bound consolidation after yesterday's big sell-off. Still, the usual principles applied and produced the daily pay cheque. I plan to post some charts that illustrate the principles, and also update ...

Medici trades the London open

Well done. Don't know if I would like a long at this stage. Sentiment seems too bearish.

Medici trades the London open

Good thinking. My reason for the Euro short was that it was (i) Asian high, (ii) around session lows from the past few days, and (iii) around 8am. Now out for some more pips.

Medici trades the London open

Agreed. The buy signal at 5.55-6.00 was clear but the action around 7am negated that. And now it seems like the morning ranges have been defined. Patience is the name of the game today...I shorted the Euro from 1.4357 just to keep me awake.

Medici trades the London open

Probably a good idea, as it isn't going down. My reason for not taking a long is the kind of 5m chart pattern around 7am. So I will wait and see if it breaks above the 7am levels. If there had been sizeable stops below they would probably have been ...

Medici trades the London open

Hello Islander. Suffering indeed. Yesterday was the last day of excesses though, when the last of xmas food and wine went. Will go to the gym at lunchtime today to start getting back in shape. Might be a New Year resolution to start trading the NY ...

Medici trades the London open

More pips banked when it didn't break through the lows.

Medici trades the London open

Short cable from 5902. We'll see...

Medici trades the London open

GM everybody. Half a stone heavier and recovering from xmas excesses, I still managed to steal a few pips yesterday. Today was a classic 6am buy. Breakouts at 6am are very rare, so long cable from 5880 for 20. Yesterday's NY session was year-end ...

Medici trades the London open

Morning summary — That's it for me this side of Christmas, folks. In spite of a sleepy session, good pips were had by all, and party budgets extended Thanks to all for sharing, and have a wonderful Christmas holiday. I shall be back ...

Medici trades the London open

Well done! Keep it up.

Medici trades the London open

Well, the buying is over, I think, and now it's either a break downwards or, more likely, sleepy consolidation until the Americans get started.

Medici trades the London open

Close to potential resistance and looking for confirmation on which way the traffic would go.

Medici trades the London open

Yes, I noticed that NY was good when I returned back home. Lots of dollar buying at the fix, and spec folks front-running. Congratulations on your pips harvest. Wouldn't be surprised if today's afternoon will be good again. Unfortunately, Christmas ...

Medici trades the London open