Best Thread Live Cable Trading

[dc2000]

Hope not FC that would make 3-0

I would like 980 just not today

 

[Kaffee]

how come? it has been making higher lows since 4am this morning?

And no new high since 9.45...... so possible start of a downtrend ?!

 

[FetteredChinos]

ok, there's the first lower low and lower high triggered...

one more and we have confirmation of a downtrend..

 

[Cableguy]

how come? it has been making higher lows since 4am this morning?

Just studying Cable, it's creating a familar "horseshoe" shape, we'll see if it pans out, the core basis of my strategy "What goes up, must come down." - Yes, I'm simple

CG

 

[Kaffee]

ok, there's the first lower low and lower high triggered...

one more and we have confirmation of a downtrend..

One more go at 7900... perhaps.

Edit:- Mind you support sof 20 and 100 SMA's ain't that far below on the 15 minute....

 

[Cableguy]

Short @ 7912, s/l: 7935, target: 7875, 0.3 lots.

CG

Closed off 0.2 lots for +23, left 0.1 lots running for target, so we'll see :cheesy:

CG

 

[FetteredChinos]

still only retraced 50% of the big move up..

only looks corrective to me..

 

[Cableguy]

still only retraced 50% of the big move up..

only looks corrective to me..

I think your right, I've moved s/l to b/e.

CG

 

[FetteredChinos]

a 5-min close above 7905 would confirm my suspicions..

 

[Kaffee]

On a seperate note.... does anyone know what the "Dollar Index" is. Is it just a basket of currencies v's the Dollar ??

Only reason I ask is because it took out the 200 SMA in the last few days. That and the carnage on the Dow doesn't bode well for the greenback.

 

[Cableguy]

Closed off 0.2 lots for +23, left 0.1 lots running for target, so we'll see :cheesy:

CG

Closed off last 0.1 lots for +20. To much congestion imho

CG

 

[FetteredChinos]

yup, it looks like another tedious session aujourd'hui...

 

[Baruch]

On a seperate note.... does anyone know what the "Dollar Index" is. Is it just a basket of currencies v's the Dollar ??

Only reason I ask is because it took out the 200 SMA in the last few days. That and the carnage on the Dow doesn't bode well for the greenback.

Yes, and it's also a future you can trade.

 

[Cableguy]

1-2-3 Formation

Isn't this an example of the Ross 1-2-3 formation?

 

[trendie]

CG,

looks like a 1-2-3 reversal. Are you trading it ?

 

[Baruch]

Forever and a day Trendie,

I'm a 'professional' bartender! In the UK that sounds crap but overseas its quite a good earner with many a fine selection of ladies, but thats a different story, anyhow, I stopped working a few months back and had saved up alot of cash to tie me over and to trade with.

I'll keep going till Christmas, and if the need for more money comes along I shall find some work elsewhere in the world where its cheaper and sunnier (overseas hotel work = free accomadation and expenses paid... Dubai always popular) and save up till I can do it again!

Never say die! Hopefully it won't come to that mind! :cheesy:

Are you still trading - or chasing the girls again as a bartender? Could be nice to know... :cheesy:

 

[Cableguy]

CG,

looks like a 1-2-3 reversal. Are you trading it ?

No, this is where I'm confused, is this a reveral up or down with this formation? (soz still chewing through the book)

Cheers

CG

 

[trendie]

No, this is where I'm confused, is this a reveral up or down with this formation? (soz still chewing through the book)

Cheers

CG

I always thought it was a reversal of trend.
the pattern invalidates if point 1 taken out.
also the 1-2-3 has to occur within just a few bars to be valid. if it happens spread over several bars, it loses its power and value.

so, I reckon it is indicating a reversal - from that perspective.

 

[Cableguy]

I always thought it was a reversal of trend.
the pattern invalidates if point 1 taken out.
also the 1-2-3 has to occur within just a few bars to be valid. if it happens spread over several bars, it loses its power and value.

so, I reckon it is indicating a reversal - from that perspective.

A short term correction maybe? I did short Cable but for different reasons, with it moving back up it may take out point 1. Be interesting to see..

Thanks for the help

CG

 

[FetteredChinos]

well said trendie.. the 1-2-3 is a reversal pattern..

but how do you pick an exit? thats the key lol..

scaling out isnt really a viable option, as it is essentially cutting profits short, but taking on full risk..