Best Thread Live Cable Trading
TheBramble
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All this chatter about potential levels and support and resistance. Ungrateful wretches!!!
I gave you the levels this very morn, as I do each dawntide.
If you're not careful, it'll all go into the fire tonight - then you'll be sorry. 😈
On a minor diversion from solid fact and into the land of vapid musings, there does appear to be a sense of Bullish-ness about Cable at the mo - even with the relatively low volatility.
Whether this will hold over into the medium to long term I have no idea. But Hourlies are looking strong and the Dailies, although down over the longer timeframe, look set to make a new move toward the 7600 and possibly 7700 levels within the next 24 calendar days.
I gave you the levels this very morn, as I do each dawntide.
If you're not careful, it'll all go into the fire tonight - then you'll be sorry. 😈
On a minor diversion from solid fact and into the land of vapid musings, there does appear to be a sense of Bullish-ness about Cable at the mo - even with the relatively low volatility.
Whether this will hold over into the medium to long term I have no idea. But Hourlies are looking strong and the Dailies, although down over the longer timeframe, look set to make a new move toward the 7600 and possibly 7700 levels within the next 24 calendar days.
TheBramble said:
Well I'm listening.... and it was a good call to short at 468 BUT this is more than a touch woolie Bramble:-
"Outside bands I'll be looking at today are 392/468 with the inner 'bands' (actually closer today to a single level from a non-scalping trading perspective) at 424/436.
Normal range play within and confirmed BO around these levels."
Do you not consider the high it made today a break of 468 (implying a long ?)
Didn't get to 392, so where do you hop off the short ? 424 ?
What were your levels based on ? If it's your heuristic utterly butterly alcopop thingy... none of us will be able to comment on that anyway !!
Keep 'em coming though. I might start to understand them eventually. 😉
Edit:- Off to watch Arsenal get turned over in Europe now. See ya all tomorrow.
trendie
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TheBramble said:
keep posting Brambs, your views are much appreciated.
I am still constantly being confused by time-frames.
today could well be the fourth day of higher-highs, and higher-lows.
but, on a grander scale, the last 4 days are small-range up days in the past 20 days or so of falls, could these up days merely be a large Bear-Flag, representing an hiatus prior to a larger fall of say, another 400 pips or so?
this is what confuses the HELL out of me, when people are calling 7500 or so.
I admire your assessments. how do you stop yourself seeing contradictory patterns in different time-frames ?
EDIT: replaced Bull-flag with Bear-flag.
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TheBramble
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The first break of the 468 level saw the following 5min bar open at 468 and then drop solidly. Wasn't a bullish indication at all. The long-legged doji on the 2nd attempt, half an hour later, was another area of indecision, followed by the down bar. No, it didn't imply a Long to me at all.Kaffee said:
As for the Short from there, I closed at 431 on the the first 5min bar that touched the 424 level. It was a lousy fill, uncharacteristically.
Oh no you're not. 😆Kaffee said:
darktone
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just my 2 cents
Pick a time frame you feel tells you 'the big picture' and stick with it. Use a smaller time frame to help you time an entry when you feel the big picture is saying to you that the beat may be changing / about to change. Otherwise you end up hitting that button too much...or worse still!.. not at all..
TheBramble
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I don't.trendie said:
I'm only ever trading one timeframe. The 5min bar. That's what get's me into and out of a trade. I use tick to measure pressure. It's a pretty poor proxy for LII or Volume, but I'm enjoying the challenge.
The 1min, hourly and daily are there for grounding and reference. They will influence my Intent. Which will determine the bias I will have in my risk and direction for each and every trade. It'll influence where my stops are placed and where my target and limit will be placed. But 'action' on the 5min will control.
I'll take Longs and Shorts on the 5min, but that doesn't prevent me having an over-arching view on where the higher timeframes have a higher probability of heading.
But it is just my view.
TheBramble
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Wednesday, February 22nd 2006
7452 is my cental value area this morning. I have a completely arbitrary range of 7420/7484.
Although I stil feel the longer timeframes are Bullish, I reckon the Short side will possibly provide the first (if any) trading opportunity today.
I'll wait for it to approach the upper level and see how it reacts.
7452 is my cental value area this morning. I have a completely arbitrary range of 7420/7484.
Although I stil feel the longer timeframes are Bullish, I reckon the Short side will possibly provide the first (if any) trading opportunity today.
I'll wait for it to approach the upper level and see how it reacts.
TheBramble said:
Ah... but your post said you would take the breakout. Hence my question.... High was 473 .. 5-7 points is deemed as a breakout around these parts I thought ?
You see, unless it's specific... I wouldn't comment on your narrative. So don't be miffed that some people might not be giving feedback.
No matter. What ranges today then ? :cheesy:
EDIT: Doh... ignore that, you posted while I was typing !
TheBramble
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Kaffee, I wasn't miffed! I was just joking around!!! It was a humorous and friendly jibe at another member's antics with bonfires a while back. 😈Kaffee said:
I don't mind if anyone responds or not, really. It's a bulletin board. I enjoy posting my take on Cable so that (a) it can be discussed if anyone cares to (b) my errors get pointed out and I get to modify my approach accordingly (c) I get educated in the process. Quid pro quo. I'm a relative newbie to FX and I've only picked up what I have from these boards and this thread. I've not originated anything myself.
The way I trade a BO is to wait for the initial BO and note it's action (as I outlined in an earlier post today). I then wait for a re-test of the BO level i.e. a reversal from the BO high (if it's a BO High or course, reverse all this for a BO Low). If the initial High BO level is then exceeded i.e. we have a new high above the initial high AND if the action looks good - then I'll take my Long. NEVER on the initial BO. Too many fakes. Sure I miss a few runaway BO, but there's always going to be another opportunity.
TheBramble said:
Sorry pre-occupied with this whole "take the breakout on" psyche. Interesting take.
Must admit... with the last few days action I'm trying to formulate a "trade it as a range unless you're forced into a breakout" approach. Don't know where to start though.
Good pip hunting today sir.
Edit:- Must admit I fancy a long here......
TheBramble
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You may be right. But on what basis?Kaffee said:
TheBramble
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What timeframe and what trendline?
I'll sit tight for now thanks. 420 will get my attention.
I appreciate I'm missing the smaller moves out of 'local' S&R at 440 and 465, but even with low spread on Oanda, the R:R doesn't meet my criteria.
I'll sit tight for now thanks. 420 will get my attention.
I appreciate I'm missing the smaller moves out of 'local' S&R at 440 and 465, but even with low spread on Oanda, the R:R doesn't meet my criteria.
TheBramble
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Bang!
