Fx 2008

Once upon a time there was a 'live cable trading' thread which had many views and many posters come and go.

The problem was that after too long, the valuable information became lost and thus, weekly threads began. Unfortunately, as traders came and went to fortune and ruin, the threads required someone to take responsibility for starting them each week.

Much thanks goes to Trendie for the weekly threads and starting them despite how few posted.:clap: Whilst I waned from posting after a while, I did enjoy looking in so it would be good to have them back.

Another problem was, as it was titled 'live cable trading' it took away the traders of other pairs so hence the lack of pair relation in the title!

To take away such a burden I propose, and start, much like the DOW 2008 thread, an 'FX 2008' thread....

DISCLAIMER:

This thread is for discussing every pair you care to trade.

This thread is for discussing trading FX. Any pair, any style. Any method.

This thread will not stand for ego - its not here for live calls and the only person who needs proof of skills is YOU so don't join to show off, join in to contribute. This is not to say live calls are unwanted - just add some reasoning or context otherwise they are worthless.

I hope having a yearly thread it will help newbies get an idea of how others trade and the sharing of ideas and thoughts will help enrichen the newbies mind and dull the burden of the seasoned trader! Plus no one is obliged to take responsibility so traders can come and go...

So lurkers or olds cool, post, join in, question, help, share and enjoy! :cheesy:

Cable daily

Hi,

Cable ranging currently, bouncing off previous support zone at 9730.
3 days of higher lows, eventual target 200ma as resistance and 9960-9980.
ok, thats a start.

Been a while since I looked at cable but here is my POV at the moment...

Looking to see if it breaks 9900 or finds resistance then looking back to 9800 region

Potential H&S ? the fundamental picture hasn't really changed for the USD so we can't say the GBP is over bought, unless there's bad news coming out soon for the GBP or very good news for the USD...don't know, i'm not much on fundamentals....any comments?

i'm short cable tonite 1.9900 .....its bwilc trade....good luck trading

Sell it! Bet the house! 5k lots. ;-)

[/IMG]

This is what I see gang.....I'm going out on a limb here and calling for 1.94 before it's all said and done.

thanks for resurrecting the FX thread, wasp.

I did feel over the past few weeks that the critical mass of posts was waning, and also didnt get any kind of impetus to start the weekly threads. Nobody even seemed to notice they werent being started.

Hopefully a longer lasting thread makes it easier to "search" when looking back for interesting posts.

What happened with the previous set of "Live Cable Trading" and weekly FX threads was a core of newbies bashed out lots of ideas between themselves, and without being antagonistic to each other developed their own ideas in this supportive environment.

Unfortunately, zupcon, DC2000, ChowClown, etc have all found their own paths I suspect and find less time to contribute, or have said all they needed to say.
I dare say thats true for wasp, and myself.

So what is needed is for a new set of newbies, and lurkers, to re-create that sense of community on this thread, and thrash out their differing ideas and get the long-term support to become profitable.

EDIT: the only reason I am writing during a trading session, is I got up late and missed the GBPUSD short at around 8am!! So waiting for US-session.

AUD/USD up?

Alas I have also missed the bus this morning on cable.

AUD/USD has broken out of recent highs and looks to have more upside potential on the hourly chart imho.

Am waiting for a 5 min retracement to go long. (Maybe put in a breakout long order as well if the retracement is too shallow)

Does anyone agree?

trendie said:

thanks for resurrecting the FX thread, wasp.

I did feel over the past few weeks that the critical mass of posts was waning, and also didnt get any kind of impetus to start the weekly threads. Nobody even seemed to notice they werent being started.

Hopefully a longer lasting thread makes it easier to "search" when looking back for interesting posts.

What happened with the previous set of "Live Cable Trading" and weekly FX threads was a core of newbies bashed out lots of ideas between themselves, and without being antagonistic to each other developed their own ideas in this supportive environment.

Unfortunately, zupcon, DC2000, ChowClown, etc have all found their own paths I suspect and find less time to contribute, or have said all they needed to say.
I dare say thats true for wasp, and myself.

So what is needed is for a new set of newbies, and lurkers, to re-create that sense of community on this thread, and thrash out their differing ideas and get the long-term support to become profitable.

EDIT: the only reason I am writing during a trading session, is I got up late and missed the GBPUSD short at around 8am!! So waiting for US-session.

Click to expand...

Agree with you on the overall direction for the cable, the next shorting apportunity IMO would be when cable displays signs of being oversold on 15 or 30min chart. I am waiting for it too probably later in the us session. Already covered short at 9844 this morning, so a reasonably start of the week. Happy trading,
2be

Blue Helmet doesn't like GBPJPY mark 203.90-204.00

Tight..

Crap Buddist said:

Blue Helmet doesn't like GBPJPY mark 203.90-204.00

Click to expand...

Purple Helmet likes GBPJPY mark 203.54/61

are we looking at a possible break of support at the 1.9740 mark??

not used to looking at hourlies and broader picture, but the zig-zags highlight the sup-zone well.

poss pinhead bull trade 201.50

good smooth short on the EURJPY for the euro-session.
I then went and gave back 1/3 of my gains when the US-session reversed the move in the afternoon.

got spiked by the GBPUSD as well, as it reversed sharply upwards early in the euro-session, after I bought the dummy short.

however, the stalling and sideways action (11-am-3pm) gave rise to a profitable short mid-afternoon.

so alls well after the scary start.

(am using my 3-Ducks variant (3-Ducks-on-Crack-Cocaine) )

trendie said:

good smooth short on the EURJPY for the euro-session.
I then went and gave back 1/3 of my gains when the US-session reversed the move in the afternoon.

got spiked by the GBPUSD as well, as it reversed sharply upwards early in the euro-session, after I bought the dummy short.

however, the stalling and sideways action (11-am-3pm) gave rise to a profitable short mid-afternoon.

so alls well after the scary start.

(am using my 3-Ducks variant (3-Ducks-on-Crack-Cocaine) )

Click to expand...

can you show us what they look like Trendie? i've only ever seen a duck on speed...

brutusdog said:

can you show us what they look like Trendie? i've only ever seen a duck on speed...

Click to expand...

actually, I have shown a "skewed" variation of my 3-Ducks-on-Crack-Cocaine on my "all it takes is a squiggly line" sarcy-thread !

its basically 60-EMA channels monitored on 5-mins.
I use a broader Hull-MA to give direction confirmation.

If the bulk of the price action is below the 60-EMA channels its down-trend, so I look for Stochs OB conditions to short into.

If the bulk of the price action is above the 60-EMA channels its up-trend, so I look for Stochs OS conditions to buy into.

I trade pull-backs, so always looking for bargains.

A little bit of work, and anyone can come up with their own personal settings; nothing special about my Stochs settings, just good for me.

What with trader_dante and tencorp posting trades, might do something similar for May.

hope that helps.

heres my view on cable.......

a massive opportunity, a 20% chunk to be taken on the short side, if anyone has the balls and patience to sit it out. I'm taking a few trades to build a position if i am continually proven right...

not the best two days for me.

EURJPY going up nicely all morning, then BAM!, a speedy drop-off, wiping out my mornings profits.

GBPUSD was choppy, so luckily stayed out. thought about a speculative short at the second peak that formed a sort of double-top pincer, but lost my bottle since I had no rules in place for it.

think I will call it a day as null day.

hope you did better. have a good weekend.

ok, for those remotely interested:
(note I am showing the "squiggly settings", which will serve to illustrate only in general terms my rules)

EURJPY: note that the bulk of the price action is above the 60-EMA channel, so I am looking for longs.
the Stochs OS shown coinciding with the channels show a possible long position.

GBPUSD: note that the price action is as much above as below the 60-EMA channel, so choppy market. (could switch to different TF to get direction, if so inclined)
One possible short was indicated where the Stochs OB hook occurred just above the channel, (illustrated) so potential shoirt entry there.

As I write, there has been a Stochs OB condition just above the 60-EMA channel so a possible short there. (recent price action below channel, and Stochs indicating an OB condition.)

There is always the possibility the price will congest there, and then break upwards, but thats the risk to be taken. I read it as possible pullback to a down-move.
(also note recent Low is lower than earlier Low)

always factor in news events;
USD: 1:30pm Import Price Index, Orange Event.
USD: 3:00pm Consumer Sentiment, Red event.

same market, different view

Hi Trendie,

Got my eye on the old EURJPY at the moment too.... nice simple short from the break of the trendline.........

Where it will go and where it will stop, who knows... trails behind the old S/R and see...