The 3 Duck's Trading System

[Tess]

An early quick fire entry into Cable's short term flows for the snipers amongst you just now?

Price teasing the prior high on the 5min, pulled back slightly to kiss the 60ma, before nudging thru this minor s&r line @ 2.0180.

This chart includes the ma's from the 4&1 hr frames for visual ease.

Wouldn't have been to everyone's taste I'm sure, and probably only for the very sharp operators, but a bone fide entry nonetheless.


ps: Congrats on your blog inclusion at Reuters CC

[Mr Average]

Hi Tess,

Great insight, as always. I was watching that move unfold myself and spotted the same opportunity, albeit with slightly different reasoning. However, (and forgive me if this is a naive newbie question) but wasn't that move started by an news announcment (GBP Nat House Prices)? Or have I got that wrong?

I've been trying to stay out of the way in the run up to an announcment, for fear of slippage, etc. Or would you say, if a technical set up occurs in conjunction with an announcment, it's worth taking a punt? Please correct me if I'm wrong - like I say, I'm a newbie.

[Captain Currency]

Originally Posted by Tess

An early quick fire entry into Cable's short term flows for the snipers amongst you just now?

Price teasing the prior high on the 5min, pulled back slightly to kiss the 60ma, before nudging thru this minor s&r line @ 2.0180.

This chart includes the ma's from the 4&1 hr frames for visual ease.

Wouldn't have been to everyone's taste I'm sure, and probably only for the very sharp operators, but a bone fide entry nonetheless.


ps: Congrats on your blog inclusion at Reuters CC

Hello Tess and Mr. Average,

Nice trade Tess! glad to see the ducks helped you
Mr Average asked "if it was worth a punt" just after the news came out? My answer would be YES, because Im still following the guide of having all 3 ducks lined up in the same direction. But as Tess correctly pointed out, it may not have been everybodies cup of tea! But I admire you courage TESS!


Kind Regards,

Captain Currency.

[Tess]

Originally Posted by Mr Average

I was watching that move unfold myself and spotted the same opportunity, albeit with slightly different reasoning. However, (and forgive me if this is a naive newbie question) but wasn't that move started by an news announcment (GBP Nat House Prices)? Or have I got that wrong?

Hi Mr Average

Not a naive question at all, in fact a very pertinent one.

Yes, indeed it did receive a hoof from the Nationwide House Price Index print.

We had our forecasts set at 0.5%, I believe the general consensus was touting 0.3?

Really, anything on par with last months reading @ 0.6 + was a green light for Cable to loosen the reins to be honest, given that Septembers numbers won't yet be fully absorbed into the 'credit crunch' swirl yet.

It's not generally considered a sensitive release under normal circumstances Mr Average, but considering the recent credit turmoils & the inflation watchers focus, it still requires a cautious watch.

You're right to err on the side of caution around news announcements, especially if your platform is suspect at these junctures.

As far as executing around data releases (& in tandem with precise technical triggers), it really comes down to individual risk appetite & reliability of your trade platform/provider.

I/we certainly don't piggy back the actual release, but will occasionally surf a Grade 2 or 3 data print if one of the set-up triggers is close by.

But then, we execute thru tight & well supported providers on both our work & personal trade platforms. We rarely suffer the problems inherant with retail shops, thankfully.

If I was a greenhorn trading in these current market conditions: executing on & around major news announcements would be the very last strategy I'd be looking at

Hope that essay helps a little, & good trading to you!!

[Mr Average]

Thanks Captain and Tess. Think I'll continue to err on the side of caution until I'm a bit more sure of myself.

[Tess]

Originally Posted by Captain Currency

Nice trade Tess! glad to see the ducks helped you

Good morning Cap't

The zone is/was one we're "interested in" anyway, so it was certainly on the radar. It was actually my brother who hit that one, but once again made me smile that it married your criteria more or less exactly.

I've got your guides configured on my 5min frame, more for curiosity than anything to be honest, but it's not really surprising to witness that a good few of our short play/intraday trigger trades also kiss the zones which your 60sma line signals also.

Price action is price action - the additional price aids, if they're plotted sensibly, will quite often confirm entries/exits etc.

If they add a workable feature to someone's overall trade planning, then brilliant I say.

In this game, you can't have enough help

[Captain Currency]

Originally Posted by Tess

Good morning Cap't

The zone is/was one we're "interested in" anyway, so it was certainly on the radar. It was actually my brother who hit that one, but once again made me smile that it married your criteria more or less exactly.

I've got your guides configured on my 5min frame, more for curiosity than anything to be honest, but it's not really surprising to witness that a good few of our short play/intraday trigger trades also kiss the zones which your 60sma line signals also.

Price action is price action - the additional price aids, if they're plotted sensibly, will quite often confirm entries/exits etc.

If they add a workable feature to someone's overall trade planning, then brilliant I say.


In this game, you can't have enough help

Top of the morning to you Tess,

Yes your observations are correct! As I've said a million times, I use this sustem as a GUIDE in addition to my own market knowledge. What I have also noticed over the years following this system is you get a better "feel" for price, be that if they are moving well in one direction or even choppy!
This guide helps me stay with the market.

Kind Regards,

Captain Currency.

[trader1234]

probably one of the best & simple tips to help stay with the market that i've read in awhile.. thanks Captain.

[Captain Currency]

Originally Posted by trader1234

probably one of the best & simple tips to help stay with the market that i've read in awhile.. thanks Captain.

Hello Trader1234,

Your very welcome!

Kind regards,

Captain Currency.

[Tess]

Given the level & impending GDP data being released shortly, this area is a sensible place to trim a little profit out.

Not really worth doing anything with the remaining stops other than leaving them back at entry. There's no-where else to stick them really until we get the drift on momentum flows after the GDP prints.

ps: the 2.0270 s&r line is a long standing zone of interest shown on quite a few other charts posted on here. Take a peek on the 40-100 pip threads, or zoom out on your large hourly frames to check the reasoning.