Best Thread Live Cable Trading

[Kaffee]

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.

30 min. Lows of about 8am and 3pm yesterday. Just had a peep over it though....

 

[TheBramble]

I don't want to do the 'Live Trade' thing, but as the question was asked and we now have a live opportunity, I'll play it out here.

I'll come back and edit this post by adding lines, not modifying any previous text. Not as an exercise in ego, as this may turn out to be (a) a non-trade or (b) a losing trade. But just to demonstrate what I was talking about.

The 7420 bottom of range (my range, my definition, has no existence in 'reality') has been broken out downside. Low of 7410. The next 5min bar (current one at 09:19) is re-testing the 7420 line.

edit 09:22: and re-entered the range. We have a potential trade setup. If the price action reverses back downside and makes a new low of less than the previous low (7410) AND if the tick pressure is there, and if the tick direction is down trending - I'll take a Short with a Stop of 7445.

Big stop for me, but as I'm playing unknown territory (I have no downside target) I'm going with my smallest size and plenty of room to be wrong. I'm using 7445 as a Stop level because 7440 is most recent 'local' S/R.

edit 09:29: Short.

edit 09:30: 😆 Even with minimum size - that hurt. I'm going back to the hut to lie down for a bit.

Anyway, as I was saying....within the context of my trading strategy, it was a perfectly executed trade. A perfect bar steward of a trade, but perfectly executed all the same.

 

[coolTrader]

IMHO the market is just not behaving nicely . but.. took the short last night @57 on lower high for a target of 17 it took hours to break and then I moved my stop to break even - 1 and it stopped me out. for +1. There is no momentum in the market.. I am just watching

Inflation report in some minutes. Till then I am sitting on my hands...

 

[Kaffee]

Ah fucc it... short 44.

Edit: Slipped to 43.

 

[wasp]

IMHO the market is just not behaving nicely. There is no momentum in the market.....

Couldn't agree more, I had a blinding week last week and the last three days have all but wiped out my gains..... Heres hoping for some larger moves again soon....

Will the Canadian CPI make much of a dent this afternoon?

 

[darktone]

Good advice. What timeframe do you use?

I like like to use a weekly for overall feel and a 4hr chart for entry / exit setups.

 

[sccz97]

Couldn't agree more, I had a blinding week last week and the last three days have all but wiped out my gains..... Heres hoping for some larger moves again soon....

Will the Canadian CPI make much of a dent this afternoon?

not unless you're intending on trading a cad cross. ca figures tend to be the most out of line figures, ppl don't see mto realise the benefits of this

 

[Kaffee]

Ah fucc it... short 44.

Edit: Slipped to 43.

Bought at 22


Edit:- Now looking for a long... anyone have any entries lined up ?

 

[darktone]

Heres hoping for some larger moves again soon

I hear on that one! 🙄. CONGESTION!! weather youre in before and waiting for the whooooooosh or get a couple of entries nicked out.. if youre a trend player its always a :| time

fingers up!!!! screen off!!! 😎

 

[Baruch]

I like like to use a weekly for overall feel and a 4hr chart for entry / exit setups.

A weekly?! Well, you must really be a loooooong-term trader...

PS. So you have been long Cable since July 2001? :cheesy:

 

[TheBramble]

I've still got a few quid left so let's have another look....

New BO downside from the 7420, but it looks like it could be a runaway. This counts as a new BO and has no relationship to the prior BO.

Same rules (for me) - wait for re-test and new lower low. But as I say, could be a runaway.

 

[TheBramble]

If it hits 7360 and retraces to 7420 it could go all the way to the upper level at 7484.

If it's just taking a break before continuing down, I see nothing to stop it really. Nice to have a little bit of activity anyway...

 

[wasp]

Long and most probably wrong!

I think we can see a rise over the next few days personally....

If it doesn't break down through TR2 I think TR3 should easily be on the cards and a break up through should see the 1.7600 region.....

In which case, I'd advise going short now!!!!!!! 😆

 

[samtron]

hi gangfx,
Haven't posted on this thread for quite a while but I do like to keep in touch.

Just as a snip-it for would-be forex warriors; I spotted this in my travels yesterday which I hope will help to keep those fires burning.

George Soros gave away 210,000,000 USD to charitable causes last year

Does anyone know what time frame he uses? 🙂

good luck

 

[Kaffee]

Line of support now IMHO from 3pm on Monday... which comes in at 375, on the hourly chart

So on that basis will keep the powder dry unitl it gets down to the 80's again.

 

[Kaffee]

hi gangfx,
Haven't posted on this thread for quite a while but I do like to keep in touch.

Just as a snip-it for would-be forex warriors; I spotted this in my travels yesterday which I hope will help to keep those fires burning.

George Soros gave away 210,000,000 USD to charitable causes last year

Does anyone know what time frame he uses? 🙂

good luck

Probably only trades once a year at about 100 grand per pip !!

 

[Baruch]

Probably only trades once a year at about 100 grand per pip !!

And Soros never looks on a chart. If you want to know how he trades forex, read his book "The Alchemy of Finance", where he publish his trading diary from a whole year. The best book written about forex trading.

 

[wasp]

Bounced of TR2 so up, up and away....................!


Long 20 lots 1.7410........... target 1.7600 ish (30 pip stop)

 

[Gap Man]

Just rolled my long over to tomorrow - logged on to find my account £2.4M in the red!!!

Apparently I bought 15 at 174158 - needless to say it is being corrected to 17415.8 but can't help thinking if only the decimal point had been the other way...!!!!!!

 

[TheBramble]

It's a bit late in the FX trading day for me to normally take interest in Cable, but flipping through my charts, I notice potential support at the 7420 level - which was key for me today. With 7410 being 'local' resistance for most of the day partnered with my over-arching, if only gently, Bullish feel for longer-term direction, I've taken a Long with tight stop.

Also, given the time of day and normal characteristics of Cable at this hour, if it doesn't earn its keep and move to the 7452 within the next 90 minutes, I'll pull the plug.