Endless opportunities at the European Opening
Posted on October 21, 2009 at 4:35 in Market comments by David Aranzabal7 Comments »

Again another day with long runs and very clear patterns. The more I trade the european opening, the more I like it.

20 minutes before the Frankfurt Opening we got a double top, I entered without confirmation as by my experience I’s a time of the day where we can find sometimes the best price for the opening. The run was long enough for my daily target.

Anyway I entered long again (less contracts to save the profits, just in case…) at the breakout of the descending trendline. Very long run that touched yesterday’s high in minutes. Time lo leave before the UK news.

Tricky start of the day
Posted on October 20, 2009 at 4:59 in Market comments by David AranzabalNo Comments »

Today Cable started the day at the Frankfurt Opening on the upside. We were long on the breakout but the price started to make a consolidation pattern (123). Only money management techniques can avoid a loss on situations like this.

After the consolidation at resistance levels (1 hour chart resistance) the price broke the ascending trendline and went all the way down to the support area (Asian support).

Personally for me a tricky session today, I didn’t feel good on the way down and I closed the lots rushing.

This business is about the correct mindset and sometimes your mind plays games. Anyway a break even day, Just remember: consistency is the key.

FX for a Living at ITC 2009
Posted on October 19, 2009 at 8:41 in Market comments by David AranzabalNo Comments »
FX for a living was invited to take part at the “International Traders Conference 2009″ ,by FXstreet. A excellent chance to meet the best forex traders in the world:

Rob Booker , James Chen , Markus Heitkoetter , Ashraf Laidi , …

David Aranzabal was once again greeting old friends and sharing wonderful times with FXstreet staff. FXstreet has organized again an awesome international event that took place in Barcelona, Spain.

Congratulations FXstreet for your excellent work !!

Images detail:
1º Row: Left: David Aranzabal and Francesc Riveola, FXstreet’s CEO.   Right: David, Francesc and Alberto from X-Trader
2º Row: Left: David , Maud, Noemí and Sandra, FXstreet’s Staff.   Right: David , Yuri and his wife, FX for a Living’s students
3º Row: Left:  Key Notes .   Right: Live Trading
4º Row: Left: David ,Juan and Daniel (Argentina).   Right: David and Rob Booker
5º Row: Left: David and Rob Booker trading together.   Right: General view

New week = new opportunities
Posted on October 19, 2009 at 5:54 in Starting the day by David AranzabalNo Comments »

Mondays are traditionally good days at the European opening. And today was not the exception. Cable formed a double top at 1,6340 and was confirmed after the Trendline breakout. If you missed the entry we got another good opportunity at the pullback, for a fast scalp (25 to 45 pips, depending on your entry). If you left some lots running, the price broke the Asian support, reaching Friday’s low.

See the chart for more detail:

In Barcelona for the International Traders Conference 2009
Posted on October 13, 2009 at 15:58 in Market comments by David Aranzabal2 Comments »

Hi,

I’m in Barcelona as a guest for the ITC (International Traders Conference 2009). I may not post any article until the next Monday. I’ll keep you inform about the event, sure it’s going to be awesome !!

See you next time!!

Pound is punished again at the european opening
Posted on October 13, 2009 at 2:39 in Market comments by David Aranzabal4 Comments »

Yesterday Pound was punished very heavily (see yesterday’s post) and this morning, just at the Frankfurt opening, the pound got a punch again.

Very clear entry, similar to yesterday. Price makes a exhaustion pattern, breaks the ascending trendline and goes all the way down, very fast, close to support level (yesterday’s low)

See the chart for more detail:

I love mondays (again…)
Posted on October 12, 2009 at 5:20 in Market comments by David AranzabalNo Comments »

Gordon punished the Pound this morning after comments about “selling off a portfolio of state-owned assets…“.

Mondays at the European opening are good for intraday trading as we get momentum and volatility after some surprise during the weekend

See the charts for more detail:

Pound didn’t wait to BOE this morning
Posted on October 8, 2009 at 4:37 in Market comments by David Aranzabal6 Comments »

Usually on BOE days, the market is in a tight range until the announcement. But some days the operators make bets before the announcement at the London Open, and that’s what happened this morning. A big rally (100 pips in 1 hour) that showed us the potencial of trading at this time of the day.

See the charts for more explanations:

Trading the range at the european opening
Posted on October 7, 2009 at 3:29 in Market comments by David AranzabalNo Comments »

Another day on cable at The european opening= Another day with opportunities.

Just at Frankfurt opening (first vertical line) we had a double botton and MACD divergence on the previous swing low. Price broke the descending trendline and we had 2 or 3 diferent opportunities to go long, taking partial profits on the way up as the price was playing around, with big (66,8% fib) retracements.

At 1,5920 -30 we got MACD divergence very close to Asian Resistance.

More detail on the charts:

I love mondays (again…)
Posted on October 5, 2009 at 5:32 in Market comments by David AranzabalNo Comments »

Today we had a very common pattern that repeats very often at the European opening. Usually on Mondays we get higher volatility, specially after G7 meetings   Price was playing around at 60m resistance levels and tumbled all the way down till Asian support (again…).

See the charts for more information:

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