Spain raised 2.981 billion in this mornings auction against the targeted 3 billion.
2 year average yield 5.204% vs previous 4.335%
5 year average yield 6.459% vs previous 6.072%
7 year average yield 6.701%
The 10 year govt bond yield has moved through 7% presently at 7.02%, this is why we see the EURO dip.
Not necessarily confined, its more of finding a zone that has a confluence of supports or resistance, this could be MA’s with fibs, or MA’s with technical support/resistance. Also the fib levels don’t have to be the 38 and 50, it could easily have been the 23 and 38 or the 23, 38 and 50.
Just look at your charts… 1 hour from previous days, and find the zones that had a confluence/mixture of fib levels with the MA’s or MA’s with S&R. This can be in any order… the MA’s don’t need to be within the S&R or fib levels, they can be above or below… there is no set order.
David
Subscribing 
Looking forward to reading more!
Excellent, thanks David, I appreciate the concept of confluence the way you have described, in fact it may even be [U]one[/U] MA with support/resistance (my thinking was that both MA’s would be the preference). Am I on the right track?
BTW-glad your here, I’ve been perusing fx forums for years, and the knowledge you’re passing through your posts are a breath of unadulterated air, you make complete sense, thank you.
Pete
Great david…!!!
I will following the thread.
Waiting for more posts. Hope I can Learn more from you…
thanks david
Hi David, you mentioned that there are company’s in the UK that trained you guys, would you be able to recommend any good ones that the average “Joe” would be able to approach ? If you don’t want to post them here could you send a PM, thanks mate.
Hi,
The people who do the training are ex city traders or current city traders who are commissioned by the bank to come in house or out house and teach a platform/foundation to work from. Not every trader who trades at a bank or else where goes on the course, its entirely optional, but the bank prefers you do. It costs the bank around £10,000 - £20,000 per day for these courses for around 15-25 traders to attend at a time.
I don’t want to start posting links to out-side sources. But try this one Welcome // Institute of Trading and Portfolio Management its run by Anton Kreil an ex Goldman Sachs trader.
You a star David, I will certainly have a looksie.:57:
Am following this with great interest.Please keep it simple for us newbies .I dont even know what EA means, I thought it meantexpert analysis`, but you seem to imply it means something different.
I don’t want to come across as a mind changer, but as I have said many many many times, common sense is a major factor in trading and your decision making. Also what I teach is not a system, it is a way to analyse the market and charts, and then make informed technical decisions/trades based upon you analysis.
When I say watch for 1,2,3’s, engulfing candles, rail tracks, divergence… then these are what I look for as they provide the best entry timing mechanism… but don’t be naive in thinking that that’s all you can use… remember its not a system. Use your noggin (head/brain) and start making decisions on what you see… your common sense is a great tool, one of the best around, so use it!
The key part to trading is analysing the chart, and pin-pointing where you believe the pro money is going to be sitting or attracted to. Not the retail money, or what some joe-blog on a blog or forum is saying (me excluded 
, but where you believe the pro money zone is. If you can do that, then you have won more than half the battle. As you will be rewarded by waiting for price to reach there, or test it, and then time the entry… may that be a test and hold, or a break below and hold.
You have 5 topics to cover each time…
1: Identify the current direction
2: Identify the pro money zone
3: Define your risk
4: Anticipate the move using the 10/15 minute chart
5: Eliminate the risk once in profit by a given margin
And add a little pinch of common sense… you will be amazed how far you will go in trading, and ask your self why you blow lots of money in the past!
EUR/USD Update:
1 Hour Chart:
15 Minute Chart:
Remember… Just define direction, find the pro money zone, define your risk, anticipate the move, eliminate the risk… and last but not least… use your common sense.
David
Hi, David
Thank you for taking the time to create an informative and well thought out thread. It is so rare for retail traders to have the opportunity to learn with a city professional. I have had a read your previous thread and am looking forward to further analysis and learning more.
The previous thread is still available at the moment for those who want to take a look.
Di
EA… Expert Advisor (Bot/Robot trading program designed and created by scum bag marketers after your money)
Thanks for the explanation David.
On the above chart your bull/bear zone is below the price, would you ever use 2 bull/bear zones one above and below the price ready for the pro money?
Hi,
Glad you could join us here.
The old thread has a lot of info there, but I think its against forum rules here to post a link to another trading forum, so I will just leave it. Not completely sure about that!
Hey David,
Thanks for the great information you are providing there and keep it up as I am sure everyone is hungry of knowledge!
1 question. The Pro Money Zone you are referring to is the zone between the 38 and 50 fibs right? ( as it is what I noticed in your pictures)
Hi,
It doesn’t have to be the 38-50% fibs… it just so happens that today’s zone was located there… check post #81 for an explanation.
Yes I saw those 2 pin bars, but as I am still trying to learn this I stayed out as was not sure with not having any confirmation of divergence, railway tracks or engulfing, but I did se a engulfing on the 1hr chart. But thought this was another move up from the retail traders, even though it fell to to top of my pro money zone and 50%.
joffie
Hi,
No, there is only one pro money zone at any given time… but it can change from session to session… or stay in place depending on twhat price has done during a given session.
Because pro money buys low and sells high with the defined direction (trend), there is only one smart money zone each time.
Hi again David. Ill re on my question from DF.
Why exactly 21,5,3 on the Stochastic? Have a wonderfull day.
btw, what kinda dogs you have?
I have a Nova scotia toller
Hi joffie,
I don’t normally take notice of pins on a 10 or 15 minute chart, but when you see a pair or a series of them, then take notice as the chart is telling you that the market is being bough here.
If its a single pin on the 10/15 minute, then yes ignore it.
The 2 pins were backed by the stochastic over/sold, plus we expected buyers here since it was the BULL/BEAR Zone anyway… so we just look for reasons here to buy/sell depending on the action.
As I said before… Engulfing candles, Rail Tracks, Divergence, 1.2.3’s are the best entry timing patterns… but not limited to these.
