anyone trading cable 2013 - lets roll

[cablemonster]

Problem is being at an 80 point loss then taking a 2 point profit hardly makes a good system. I agree its better than losing the full 100 at my stop though. You may well be right but I gave up listening to other people a long time ago lol

wise words mate, best not to listen to 'tips' from others, it's not progressive.

 

[cablemonster]

it will cut through that 1.58 round number like a hot knife through butter!

 

[Talbs!]

it will cut through that 1.58 round number like a hot knife through butter!

 

[cablemonster]

more like a cold knife through frozen butter

 

[cablemonster]

meeting some support at 95's, no real sharp reactions to it yet though, should pop through it, next stop 88's which was yesterday's daily close. Will be interested to see where it closes, I would prefer a close below 88's to go into the weekend.

 

[bbmac]

at today's current daily hi - price tested the extreme of that previous 4hr swing lo x 4 zone (potential SBR) with the steepest ascending trend line on 4hr present too and 23.6% 6100-5745 and (not shown on 4hr chart below) 76.4% 5852-5745.

What will we see first 5900 or 5700 ?

G/L

 

[cablemonster]

hmmm IFR just switched their bias to short. they cite repeated failure to break back above the 200dma and say it is the start of a large move south. they do talk sense but have been caught with their pants down a couple of time so far in January.

 

[cablemonster]

my feed is showing up a nice H4 pin bar off previous support becomes resistance x4. what do you think Bigmac?

 

[bbmac]

I have that too...price is certainly below 200day sma on 1hr 4hr and daily and in fact on 1hr the 100sma is at the current daily hi...100sma is crossed below 200sma on both 1hr and 4hr but not on daily....overall you would have to say it looks more bearish than bullish on 4hr/daily but there are some signs of strength on 1hr at the moment...daily candle could close as a bullish hammer although some way off that close yet. Price remains in a general opa (overall price action downtrend on 4hr and daily but on 1hr we have seen a HH at today's current hi.

G/L

my feed is showing up a nice H4 pin bar off previous support becomes resistance x4. what do you think Bigmac?

 

[cablemonster]

A close bang on 1.58. Would have preferred a close below yesterdays close but happy to hold this one over the weekend. Hopefully we can break down to 1.56 next week and a good possibility of seeing 1.53 in the next few weeks.

 

[Talbs!]

Il be shorting this again when fx opens Sunday night ! 1.55 by next Friday !!!

 

[cablemonster]

my broker opens at london 9pm however I get an early indication of rate via oanda's website.

looks like cable is going to 'open' around 30 pips lower @1.5763.

link here Live Exchange Rates | OANDA

 

[Talbs!]

my broker opens at london 9pm however I get an early indication of rate via oanda's website.

looks like cable is going to 'open' around 30 pips lower @1.5763.

link here Live Exchange Rates | OANDA

Oh really I don't like gaps on charts at closed at 1.58 ! Maybe ill work a sell order at that level should hve sold it Friday night !

 

[Talbs!]

going our way nicely this am CM !

 

[cablemonster]

Makes a nice weekly breakout. I have set my target to 1.55 will keep stop where it is for now adjust at the end of the day. I dont have much free time to day trade this week so this swing trade is good timing for me.

 

[cablemonster]

really nice move south in cable, my trade is currently at +60 but my analysis shows that cable should push much lower this week.

 

[Talbs!]

here comes the afternoon stop run going to try and get back short if i see 40 !

 

[cablemonster]

looks like this current retracement will push a little higher. See chart attached we have a great confluence zone at 1.5745 to 1.5750, previous H1 support becomes resistance plus a fib @45's and fib @50s. I would favour shorting at the 50's as this would take stops for any weak shorts joining london am. I will certainly be looking for any price action set ups as and when price gets to this 5 pip zone as I could potential add to my position here. when you get hourly support and resistance lining up with a fib you should take note.

 

[cablemonster]

here comes the afternoon stop run going to try and get back short if i see 40 !

yep here comes the stop hunt, 40 is a little too early to short for me mate, I would want to see 45 or ideally 50's, great place to look imo.

 

[cablemonster]

some pretty strong sellers here so we may not see this deep retrace and further stop hunt. Last week though we saw some really powerful stop hunting moves which included several twists and double backs, I simply do not rule anything in or out, trade what I see.