Cable 2010

Vaco

Vaco

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There are many cable threads on here but all seem to focus around a particular strategy.

I want this thread to be more of a general overview, a bit like the dow 09 thread was for ym traders.

All ideas, views are welcome.

So i'll kick things off.

Cable trended up strongly overnight and we already have 100 pips in the days range. For me that means that i am only looking for opportunities to get in with the trend so will be waiting for a pull back before taking a long.
 
Looks like we've moved in to a megaphone type range leading up to the news, will have to wait and see how the announcement effects price.
 
bedsit said:
Vaco - nice one, you met your target.
I'm not sure, but it looks as if short is due (kind of end of wave 5)
Click to expand...

not quite, target was todays high trade placed after the spike was stopped out on that one.
 
well spotted on the short bedsit, if we close around the pivot it will be a massive pin bar on the dailies and i'll be looking for a big swing down as of tommorow.
 
This is a new thing I'm trying (waves). If I guessed right up move should be 75% max of recent down move. If it reaches round 16422 will look for shorting opportunity again. If it doesn't would look for simple break below the low (16310)

Any ideas?
 
i took another long after the rejection of the pivot, funny u mention 16422 my target is set at 16426.
 
Well I was thinking about 75% retracement and there is kind of spiky candle (10:25) with that sort of high.
 
if u get time might be good to get a chart up with some of these waves on it.
 
Sorry about not sending graph (I don't know how to do it)
I'll try to describe it:
Hourly chart:
beginning of wave 1 (7Jan at 11:00)
beginning of wave 2 and end of wave 1 (11Jan at 11:00)
end of wave 2 and beginning of wave 3 (12Jan at 8:00)
end of wave 3 and beginning of wave 4 (15Jan at 4:00)
end of wave 4 and beginning of wave 5 (15Jan at 16:00)
??? maybe end of wave 5 (19Jan at 9:00)

if so waiting for ABC correction

hope didn't make any mistakes
 
1.6300-1.6250 looks like a heavy demand area...

A couple of orders waiting to be filled at that level it seems.
 
i'm expecting cable to start moving towards 5870 over the next few days.
 
Hi Woolley,

over what time frame are you holding that trade and wheres your sl and target?
 
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