anyone trading cable 2013 - lets roll

[bbmac]

1st real pullback hurdle being encountered - the previous 1hr/4hr swing lo zone (potential sbr) and 23.6% of friday's move down...

G/L

 

[Talbs!]

This morning cable trading very bullish, lots of talk pushing it up, UK growth is improving, shadow MPC votes for a hike , no more QE etc etc, all rubbish but today GBP getting a bid long at 15 , target 1.58 initially

 

[bbmac]

yeh,,,offers touted 4740-50, 5780 and 5800

G/L

This morning cable trading very bullish, lots of talk pushing it up, UK growth is improving, shadow MPC votes for a hike , no more QE etc etc, all rubbish but today GBP getting a bid long at 15 , target 1.58 initially

 

[Talbs!]

yeh,,,offers touted 4740-50, 5780 and 5800

G/L

/sure looks like one of those days thats just grinds up all day, gets thorugh 53 then thats a bullish sign for me !

 

[bbmac]

offers 5740/50 kick in - mid point the previous 4hr swing lo zone (potential sbr)...3/5min ascending channel gets breeched to downside

How strong are the bulls now ?

G/L

 

[Talbs!]

(BN) Gieve Sees ‘Substantial Chance’ BOE
rsday

above story is grabbing some attention

This hitting cable !

 

[bbmac]

could be - but I like to think I scored a prefect short entry on the technicals (lol) - some pip gain and out...Eurusd on slide too on spanish govt stability worries - bond yields rising as a result

G/L

(BN) Gieve Sees ‘Substantial Chance’ BOE
rsday

above story is grabbing some attention

This hitting cable !

 

[BeginnerJoe]

Here's my position profile. On the latest swing high, I am averaging 20 pips down, not too terrible. Most of the fractional positions at the top, although out of money by a lot, are probes and have minimum effect. My bias remains long and will be adding on swing lows.

 

[bbmac]

Joe, On what basis is your bias in this pairing remaining long, the only t/f (of 1hr +) exhibiting signs of strength is 1hr and 4hr/daily are in opa downtrends, and weekly/monthly look bearish too ? Thanks,

G/L

-----------------------------------------
38.2% 5845-5687/weekly pivot see-iung some supply at today's current daily hi.

Here's my position profile. On the latest swing high, I am averaging 20 pips down, not too terrible. Most of the fractional positions at the top, although out of money by a lot, are probes and have minimum effect. My bias remains long and will be adding on swing lows.

 

[BeginnerJoe]

I am long based on market action, and the manipulator's intention.

 

[cablemonster]

short 28.6

 

[cablemonster]

out for -22.6 grr

 

[bbmac]

1 x HL on 4hr and 4 x HL's (well 3 fractal but likely to be 4 when current 1hr candle closes) on 1hr, price reaaching 38.2% of Friday's hi-lo at today's current hi-so 1hr exhibiting signs of strength now - course this is exactly what happened on 1hr and 4hr before the drop on Friday lol !

Daily candle today likely to result in a fractal HL on that t/f - so that would be bearish-rangy then re opa on that t/f if it does.


G/L

 

[BeginnerJoe]

Hope it collapses soon. It really didn't swing low enough for me to buy in. At the current price, my position is -7 pips down.

 

[VielGeld]

I'll be watching 1.578 for potential short -- it's the Jan 31 low and midpoint between the recent 1.588 high and 1.568 low, or indication it's a point of mean-reversion.

 

[bbmac]

Price pulled back off yesterdayt's 5771 hi and found support in the previous 1hr swing lo zone pictured/circled below...strong buying from there with the last leg up helped by the Uk data react at 0928/0930am gmt....better than expected Services Pmi....and price finds more demand - finding it's way up to 61.8% of Friday's move (circled) and in the 1st 1/2 of a previous 4hr swing lo zone (potential rbs) where some supply comes in.

G/L

 

[cablemonster]

CABLE: MNI Cable: Fundamental levels (orders, options, technicals),
$1.5895/900 Strong offers/$1.5892 200-dma
$1.5870/80 Medium offers
$1.5840/50 Medium offers/Stops
$1.5830/35 Medium offers/$1.5833 76.4% $1.5879-1.5683
$1.5805 Int.Day high Europe, Asia $1.5767
$1.5768 **Current market rate 1102GMT Tuesday
$1.5768 Pullback low off $1.5805
$1.5755/50 Medium demand/$1.5755 76.4% $1.5727-1.5805
$1.5728 Int.Day low Europe, Asia $1.5745
$1.5710/00 Medium demand
$1.5683 Mon Feb4 low
$1.5680 Strong demand on approach/Stops
$1.5650/40 Medium demand
$1.5610/00 Strong demand

 

[bbmac]

struggling atm to make further upside gain...that 61.8% 5878-5687 topping for now.

$1.5755/50 Medium demand/$1.5755 76.4% $1.5727-1.5805

see what that does from MNi re your post above

G/L

 

[cablemonster]

here are the levels I am currently watching.

red - round numbers
blue - orders reported in market
green - bids
solid blue - prev H1 support and resistance
pink lines - it's just an optical illusion, basically red and blue lines at the same level.

 

[cablemonster]

we see cable bust out of the overnight channel south take out the weak shorts and bust north, now in that 'awkward' phase coming up to London lunch.