Dow 2007

Ziff, never looked at or traded cable, showing my ignorance on Forex here, which currency is it?

Its the GBP/USD..............

Cable - Trader jargon referring to the Sterling/US Dollar exchange rate. So called because the rate was originally transmitted via a transatlantic cable beginning in the mid 1800's.
 
FOMC Meeting - 5.25% is a quarter percent rise, yes? Which the market are already expecting. AFAIK (and I remember this from being short the FTSE before the BoE announced the last hike) that a higher interest rate is bad for indices.

So if they keep rates unchanged at 5%, that is extremely bullish for the Dow, yes?

However, if they raise to 5.25%, the market is already half expecting this so there will be a brief shallow drop in price?
 
mainly been trading the dow but a bit of cable, am looking more into cable due to the liquidity and the fact it moves!..
 
Cable is my final plan. When I am good enough with indices, and have made a 4 figure profit, I will consider this. The market is so liquid, you can sell 10bn USD worth of sterling and still profit under certain conditions...

Also, I don't see 80 pips a day as too unachieveable on cable. (for a very good trader).

Damn, missed an entry at 13305 (long, cash)
 
Cable is my final plan. When I am good enough with indices, and have made a 4 figure profit, I will consider this. The market is so liquid, you can sell 10bn USD worth of sterling and still profit under certain conditions...

Also, I don't see 80 pips a day as too unachieveable on cable. (for a very good trader).

Damn, missed an entry at 13305 (long, cash)

The above trade would be looking pretty nice right now if I hadn't missed it - +15 pips
 
Lurker, damn shame abou the long, times I've done that and kicked myself, there will always be another opportunity
 
Possible short term short developing on the 1 min, macd divergence building on th 5min chart
 
DOW possible map for near term?

this count may be playing out - in which case we still have wave 4 and wave 5 to play out assuming we are in process of finishing wave v of 3 (confused?? see chart attached)..in summary we could see a down move wave 4 (target just above 13k) then another rally to ALL time highs to finish wave 5 --- then...is that it? Or will we see an extended wave 5...which could tie in with some of the very bullish fcasts of dow 20k by next year...
 

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  • DOW JONES INDUSTRIAL elliott.png
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Cover at 13333

Covered, and then gave 6 tics back due to my inability to tell the difference between an open position and a closed one under "spreadbet positions" on marketmaker. Silly me. (I covered the trade, so no reaction, waited, covered again starting a long, then covered my long at a 6 tic loss when I realised it existed)

For clarity, that's +7, -6. Net +1 tic. Taking the rest of the day off I think!
 
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I think that gives us an idea of some pretty strong S/R for the next few hours! S1 at 13283, R1 at 13357.

FWIW, with CMC on a 4 point spread on the Daily Cash Dow, I have the following

Sell at 13355 GTC
Buy at 13285 GTC

PS - Tell me that thing didn't just have a range of 70 pips!!! I feel inadequate with my 13 now...
 
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