Cable 2010

[be-positive]

goodmorning all
well done for yesterday vaco

 

[Vaco]

morning all,

cable in a range on the daily so looking for longs near the bottom and shorts near the top until price action tells us otherwise.

 

[bedsit]

This is short time downtrend IMO. Waiting for trend reversal for pos long entries

 

[Vaco]

This is short time downtrend IMO. Waiting for trend reversal for pos long entries

true just be aware it may not have much further to go.

 

[bedsit]

I think today is European meeting - there may be a report regarding Greece. Apart from euro may affect Cable. Also economic report in US at 13:30

 

[Vaco]

yes the start has been delayed till 11:30 gmt from 09:30 gmt due to bad weather conditions.

another reason why I expect us to stay within the daily range for now.

 

[bedsit]

Idealy if I can get one trade before 11:30. Afterwards may give it a miss till 14:00.
For the time being can't see anything - it's downtrend and sort of close to the bottom. Not good enough set up for me to do anything. Maybe go for a long after that 15m pin candle?

PS No, I wouldn't do that

 

[leovirgo]

yes the start has been delayed till 11:30 gmt from 09:30 gmt due to bad weather conditions.

another reason why I expect us to stay within the daily range for now.

don't forget markets tend to scare the politicians!

 

[bedsit]

Out of curiosity I put a fork on 15m tf. It looks like a mild downtrend with bottom line limiting fall to round 560 area (difficult to say precisely as the line is sloping)

Theory is if it doesn't may go through a lot.

 

[bedsit]

Long 565 stop 553

PS don't like it out +10

 

[be-positive]

bedsit
looks like your long call wasspot on

 

[bedsit]

bedsit
looks like your long call wasspot on

I didn't stay in it for long - it was against the trend and straggled at the beginning.
I very rarely try to catch the tops or bottoms, but when I do - I want price to shoot in max 15min. In this case it was moving up and down for at least 30min and I felt uncomfortable with it.

PS With the benefit of hindsight - I was only risking 12 pips - wouldn't have hurt me if I was in till it hit upper fork line - that could have been +90. Next time I'll pay attention to targets and try not to worry too much about miserely 12 pips.

 

[Alexbabwa]

Trying something a little different today. Have too much work on to sit in front of the chart all day so ive set two orders in. Buy at 537 stop 515 target 60 pips. Sell at 723 stop 770 target 60 pips

 

[bedsit]

Long 614 stop 608

 

[Alexbabwa]

aiming for pivot or daily high?

 

[bedsit]

aiming for pivot or daily high?

This time I wait for the stop to be hit or preferably target - aiming for pivot (first target)

Moved stop to 618

Stop to 628

out +14

 

[Alexbabwa]

i have an order to short at the pivot for a limit of 10 pips, stop at daily high

 

[bedsit]

I'll try 12:00-14:15 break - short 1 pip below last 15m candle (lowest from 14:00 to 14:15)

Limit short at 592.5

 

[bedsit]

I'll try 12:00-14:15 break - short 1 pip below last 15m candle (lowest from 14:00 to 14:15)

Limit short at 592.5

Out -20

Today I made 4 pips, yesterday lost 2. Have to think where to spend all that money.

 

[Vaco]

lol

i should have taken my own advice and stayed away but been me i didn't and ended the day down. Sometimes having to go to bed has its advantages!