anyone trading cable 2013 - lets roll

5 stars for the effort and being sincere.

Really hope you will pull it off nicely. Myself, never had much luck with FX, prefer futures, but your journal looks good.

Best of luck !
 
1.6050 is a level to watch. confluence. 2 x fibo tracements + market chatter of offers + previous H1 S/R + it's a psychological number.
 
you gotta be careful around this time of day, especially if looking to play a reversal, a lot of final completion moves (stop hunt) occur around London lunchtimes.
 
my daily bias is short into 1.59 which is the 200 day moving average
 
we are currently seeing a rejection of the 40 level play out. we had offers touted, previous H1 S/R, 50% fib and a decending hourly trendline. whether the level holds is another thing but we certainly saw a reaction of it.
 
lets say the next 15m bar is a large outside bar and then price break south @ say 20's - would i take the trade. for me no. I am not 100% sure why, I just dont like it, it's a gut feeling, maybe born out of the screentime I have had. It could be the tonne of prev resistance around the 15's. For me the equity markets and the euro look bullish which will pull up cable.
 
cablemonster said:
6 rejections of the 33 level now. maybe the 50's wont print. hmmmm
Click to expand...

Come 2.30 when US stocks open i think risk will continue to build, so cable and eurusd should be pushing up with it every chance to see 50's if we do im shorting it with stops above 1.6090 ! Lets see how this plays out anyway !
 
Talbs! said:
Come 2.30 when US stocks open i think risk will continue to build, so cable and eurusd should be pushing up with it every chance to see 50's if we do im shorting it with stops above 1.6090 ! Lets see how this plays out anyway !
Click to expand...

welcome mate. I was getting bored of talking to myself!!!
 
Talbs! said:
Come 2.30 when US stocks open i think risk will continue to build, so cable and eurusd should be pushing up with it every chance to see 50's if we do im shorting it with stops above 1.6090 ! Lets see how this plays out anyway !
Click to expand...

50's is a great level to watch. Are you going to touch trade or take a price action set up?
 
cablemonster said:
50's is a great level to watch. Are you going to touch trade or take a price action set up?
Click to expand...

ill just keep an eye on the price action and if it gets near there ill hit it, goes well against my long equity position, i like to use a 14 days EXP moving average to determine whether i go long or short , as i said as long at cable stays below 1.6090 ill be a seller, do fancy it down to 1.5850
 
so a bearish break but for me there are some buyers who will come in @ 10's 15's at least for a while. gunna grab some lunch.
 
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