Cable 2010

[bedsit]

so far the pivot looks like a nice support

 

[Alexbabwa]

yeah, limit hit thats +20pips for me. done for the day gotta go get out about a dozen books for another essay

 

[bedsit]

Nice - quick 20

I've overdone it with lines - I have quite a few between 090 and 100. May look for a top catching.
First I have to check the lines again - I forgot what was the meaning behind them. LOL

 

[Alexbabwa]

thought you were trying to steer clear of top and bottom catching?

 

[bedsit]

thought you were trying to steer clear of top and bottom catching?

I didn't enter this trade because of that. Otherwise it was a nice potential short at the close of 16:30 candle. That candle closed below the low of 16:15 candle (looks a bit like a doji). That could have been short at 064

 

[Alexbabwa]

15minute time frame i presume. No worries you still caught a good trade earlier

 

[bedsit]

15minute time frame i presume. No worries you still caught a good trade earlier

Yeah - it is 15m. Now it's a down trend, but it's not my favourite to trade after 17:00, so I'll leave it for today. Tomorrow UK budget - may cause big price moves.

 

[Mr Flibble]

Yeah - it is 15m. Now it's a down trend, but it's not my favourite to trade after 17:00, so I'll leave it for today. Tomorrow UK budget - may cause big price moves.

I took a beating on this the other day so I'm licking my wounds and playing with the FTSE. Its quite amazing how restrained it was compared to the DOW which rocketted up. There is a major correlation between cable and the Dow for sure. Dow goes up dollar seems to weaken slightly anyone else noticed this? Or am I talking cods wallop.

 

[bedsit]

I took a beating on this the other day so I'm licking my wounds and playing with the FTSE. Its quite amazing how restrained it was compared to the DOW which rocketted up. There is a major correlation between cable and the Dow for sure. Dow goes up dollar seems to weaken slightly anyone else noticed this? Or am I talking cods wallop.

I used to day trade DOW - not any more. It's quite difficult to day trade it. It's easier to day trade other indices (I would go for S&P instead (less volatile).
IMO DOW movements are closely related to $ movements, but I'm not sure how much that helps as the correlated moves usually happen at the same time.

About cable's price action today - reminds me of NFP day. Ideal for losing lots of pips through sudden unexpected moves.

 

[Alexbabwa]

did u trade any today bedsit?

 

[Black Swan]

I used to day trade DOW - not any more. It's quite difficult to day trade it. It's easier to day trade other indices (I would go for S&P instead (less volatile).
IMO DOW movements are closely related to $ movements, but I'm not sure how much that helps as the correlated moves usually happen at the same time.

About cable's price action today - reminds me of NFP day. Ideal for losing lots of pips through sudden unexpected moves.

Ya think?

 

[bedsit]

did u trade any today bedsit?

Yeah, only one trade - break from 11:00 - 13:15 range

 

[bedsit]

Ya think?

When I had a look this morning didn't look promising - like that move at 8:30. That put me off trend following for today. Afterwards gave up because of Mr D (bad experience about trading during important events). Otherwise could have taken a wild guess and short it - every time an important official talks pound goes south. Only thing a bit tough on nerves and requires a stop beyond my means.

 

[bedsit]

Amazing - 59.8 pips in less than 10 seconds (9:30:00-9:30:08). So if one is really really quick - there is money to be made. Slower traders need to find some other way.

 

[bedsit]

No set up for me at the moment. Trend is up, but R1 (004) and prevous trend line below 4h lows (round 010) look like an important level. May wait for a trend change if that's the case.

 

[Black Swan]

Amazing - 59.8 pips in less than 10 seconds (9:30:00-9:30:08). So if one is really really quick - there is money to be made. Slower traders need to find some other way.

You can't possibly *catch* a move like that unless you're already in the trade...

 

[bedsit]

You can't possibly *catch* a move like that unless you're already in the trade...

It was more like a joke, although I was thinking about limit long (break out) before it. Only thing - would have been difficult to catch a nice profit, unless there was a limit stop.

PS now looking for a short

short 042 stop 062

out 1/2 at 020 the rest is a free ride

out 1/4 at 028 - good to keep some profit

out 1/4 at 016 - may look for short again

 

[Black Swan]

It was more like a joke, although I was thinking about limit long (break out) before it. Only thing - would have been difficult to catch a nice profit, unless there was a limit stop.

PS now looking for a short

short 042 stop 062

been short since the 18th... Looking at the short term TFs I reckon you should already be in...

 

[bedsit]

been short since the 18th

That's excellent timing.

 

[Black Swan]

That's excellent timing.

Ya think? Standard swing trading IMO...mind you someone on 'ere shorted on 21 Jan...