Best Thread Live Cable Trading

Any views on s/term direction from here ?

we seem to have broken reacent range to the downside and daily stochs have crossed over - hourlies getting oversold though.

Will try long from 83 for move back upto bottom of range at 7520. Tight stop at 70
 
eatontrade said:
Any views on s/term direction from here ?

we seem to have broken reacent range to the downside and daily stochs have crossed over - hourlies getting oversold though.

Will try long from 83 for move back upto bottom of range at 7520. Tight stop at 70
Click to expand...


Out for -13 pips
 
I managed to play the asian breakout, but went in late, as i felt there was some level of support around 7505, 7496, and 7486. Had to take my kid to school, so missed out on around 15 pips. did manage to make some though......7455 seems to be strong support. lets see. keep a big eye on eurodollar, if it breaks 2120, wouldnt be surprised cable went down to 7415.
 
out at 06. perfect example of a rookie that does not know how to manage profits, and gets nervous easily 😱 . anyway, only time will help that weakness. nice 25pips though 🙂
 
Last edited:
jacinto said:
out at 06
Click to expand...

Nice one.

I'm still long from 85 (stop now at b/even). Plan to take profits on half position at 7518 (bottom of prev range) and leave remainder as hourly studies now heading higher.
 
eatontrade said:
Nice one.

I'm still long from 85 (stop now at b/even). Plan to take profits on half position at 7518 (bottom of prev range) and leave remainder as hourly studies now heading higher.
Click to expand...

thanks. sometimes nervousness helps. hope you are not stopped.....
 
Morning all. Anyone trading cable today ?

Is it just me or can anyone see a head and shoulders forming on the hourly and 240 min charts. If so could see us down at 7240 fairly soon.
 
eatontrade said:
Morning all. Anyone trading cable today ?

Is it just me or can anyone see a head and shoulders forming on the hourly and 240 min charts. If so could see us down at 7240 fairly soon.
Click to expand...
I already did. tried an asian breakout going long, but got hammered. made the mistake of not analysing resistance in an adequate way, survived the BOE minutes, and then bang.

dont know if it looks like h&s, to be honest. just looking to see how it works out. strong support at 55 for cable, and at 50 for euro, make me doubt of direction, and make me think more that it will be very choppy. probably time to call it a day, and wait for tomorrow. lessons to be learned indeed. it hurts to go in the red, but then again, it is the process of learning for me, as i am a total beginner. good luck eaton.
 
real money trades

i have sold small at 60 take profit at 30 nearing end of move try getting long at 20
 
cable

GBP/USD
Long term - down trend from 16 December 2004 with second main Resistance at 1.7680
Medium term - up trend from 28 November 2005 with first main Support at 1.7250
Neutral or Selling (Short term positions).
Resistance: 1.7590, 1.7600, 1.7645, 1.7680
Support: 1.7455, 1.7390, 1.7250
 
G-Man said:
I fancy a long holiday.

Too many more weeks like recent ones and I'm gonna need it!!!

G-Man
Click to expand...

agree. i was very tempted for a long at 56, cant work out all the conflicting signals....that fib support @ 55 seems very strong, but cable feels very heavy. How can one go against a hanging man in the daily chart. choppy choppy.

And I am supposed to learn under these conditions! guess a holiday is nicer.
 
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