Best Thread Live Cable Trading

[trendie]

how do you distinguish between a reversal and a pullback ?

EDIT:
that is; at what point on a piece of analysis do you determine that the market has retraced to such an extent that it has changed direction;

as opposed to determining that the market is merely taking a breather, and will resume its broader direction move, after the retracement.

 

[Baruch]

Hans123:

We are long euro from 1.2259

StopLoss moved to b/e

 

[Baruch]

looking to go short at 865 with 30 pip stop

Why 865? Where do you get such a number from?

 

[trendie]

Why 865? Where do you get such a number from?

maybe dc is supposing that todays range will be similar to fridays range ?
( take the range of friday, and add it to the current low of today. so, although we are moving up, it may a logical place to suppose the approximate high of today will be. )

just a wild idea.

 

[wasp]

Or maybe the last high above the high of today on 30.10.2005

make that 28.10.2005

 

[trendie]

Or maybe the last high above the high of today on 30.10.2005

good one, chrisw.
I was being too short-sighted and thinking in terms of past few days.
( he does post targets which seem to last generally just a few days. )

 

[Cableguy]

good one, chrisw.
I was being too short-sighted and thinking in terms of past few days.
( he does post targets which seem to last generally just a few days. )

Or perhaps it's a combination of his winning lottery numbers

 

[dc2000]

Its a projected target for a short term turn, the question is will we hit 802 before this price is hit

 

[FetteredChinos]

stop now moved to b/e...

currently +60 and counting

 

[trendie]

has the hans123 gbpusd trade been moved to b/e yet ?
( if so, both euro and cable are "risk free" for today )

 

[zuke]

Short 3 lots 858 Target 1 35 pips Stop 878

 

[ChowClown]

has the hans123 gbpusd trade been moved to b/e yet ?
( if so, both euro and cable are "risk free" for today )

...yes, both at b/e now. Although cable now banging it's head against the 61.8 fib (4th Sept 05 - 27th Nov 05 daily chart).

 

[trendie]

I now have a short at 1.7840. ( paper-trade )

SL = 1.7865. target = ?? ( maybe 25 )

 

[FetteredChinos]

im still long, but getting ready to flip into a short at a moments notice..

looking unstable, and at a critical point atm

 

[Kaffee]

im still long, but getting ready to flip into a short at a moments notice..

looking unstable, and at a critical point atm

Well, we have broken the Cam level (7860) to think about a short from.... so maybe you're right....

Edit:- No ignore that, talking rubbish. We're miles from a short entry... it's 7760 not 7860.

 

[FetteredChinos]

my method is just about to signal another long in a few mins time.. but mustn't pre-empt it thought..

 

[dc2000]

Getting very bored with this trade stop now at +2 pips

 

[deanissac]

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[FetteredChinos]

thanks for the spam..

still doesnt stop GBPUSD moving sideways though..

 

[Cableguy]

Slightly off-topic

I was certain (oh foolish me) cable wouldn't move past 847 yet DC predicted correctly an upward move to 865.

My question: In this example did the market move with the line of least resistance until it found sufficient resistance? (double top from Oct on my daily) ?

Cheers

CG