Best Thread Live Cable Trading

[jezza888]

significant move prior day that happens to be a breakout from a significant resistance level (triangle-channel range in which cable has been for the last several weeks), which would suggest a pullback from that "bigger picture" breakout.

)However, thats why few traders agree on a presented example - common fact in all TA analysis situations but I respect your view albeit I can only present things as I see them

This is very true.... I personally cannot see the triangle you see or, to be more precise, I can sort of see it but would be good if you could post a chart to compare views on the particular lines of the triangle you see jacinto.

I guess everyone can see different patterns and different relevant trendlines and support/resistance.

 

[neil]

trend

SB spreads too wide to scalp.
with 3 pip spread, looking to take around 30-50 pips each time, otherwise spread to profit ratio unworkable. thats why I use 60-min charts.

still an amateur with SB. but made enough to contemplate transfer to IB within next 3 months.
thus have started to monitor 5 min charts regularly as precursor to IB.

could you elaborate on "alternatives to trend" ?

I trade b/outs of Asian range between 00.00 and 7am ( or high /low between those times in case people say no range in Asian overnight last night - its how you view it - continuing trend for example today? but for me its what happens after midnight to 7am movement)

Trendie - if you were up during the night you would probably say you were in a trend -( lets say you were using 5min charts)- Due to this "trend" the gap between midnight and 7am range/high/low whatever - is too wide according to my rules( and those of Newtron I believe)

A TA trend is a higher high and higher low if you are a trend trader - its what I look for after a break of 00.00 and 7am high/low range/overnight trend etc. But I regard any movement overnight between those times as a "Range" - trending or otherwise - well it's my method

It works for me anyway.

When I speak of scalping I was refering to Futures via the likes of IB not Spread Betting

Sorry if I cannot explain myself clearly but I suspect we all see the same things slightly differently which is why some debates rumble on whilst we seek some form of consensus.

Now I have to resume washing the winows for 'er indoors :|

 

[jacinto]

This is very true.... I personally cannot see the triangle you see or, to be more precise, I can sort of see it but would be good if you could post a chart to compare views on the particular lines of the triangle you see jacinto.

I guess everyone can see different patterns and different relevant trendlines and support/resistance.

this is what I saw. I actually got in, early, shorting @ 95, with tight stop, and made the mistake of not waiting for a proper signal.......typical "urge to get in cause I'll miss it" kind of mistake.

IMHO, this will be a false breakout from the triangle, assuming it exists (on the daily chart), if Friday brings cable back to the range. will see. just an opinion.

 

[jezza888]

Similar

Guess not too far off what you were/are looking at....

 

[jacinto]

Guess not too far off what you were/are looking at....

seems like it. guess 480-490 support (triangle break) will call the shots to see if today is only a pull back or we're back to a range........

but with eurodollar and eurosterling having broken a similar triangle to the upside, and with no pullback, well.......I am clueless. is this a question of dollar weakness or of euro strength. then where does cable or swissy stand? :?:

 

[jezza888]

I'm not expecting much till Friday now but a bad release for dollar could continue it up....

I have issues with triangle breakouts like this one though and find them to always break and then........... not much really!

Course, may be wrong and we have a long way to go....

 

[trendie]

For those hans123 observers: ( March was good month after all )

The results of 03/31:

EUR/USD:
short at 1.2120, stopped out by moved SL, result 0 pips
long at 1.2139, closed at 23.00 CET, result -25 pips

GBP/USD:
short at 1.7403, stopped out by moved SL, result 0 pips


Total for the day: -25 pips
Total for this month: +633 pips

Additionally, he posted further statistics for March:

Some statistics of March:

Net P/L: 633 pips
Gross Profit: 1,783 pips
Gross Loss: 1,150 pips
Avg WinTrade: 148.58 pips
Avg LosTrade: 104.55 pips
Average Trade: 27.52 pips
Total Trades: 23
Num Win Trades: 12
Num Los Trades: 11
Profit Factor: 1,55
AvgWin/Avg Loss: 1,42
Pct Profitable 52,17%

( I think the above stats are more revealing )

 

[Zinger]

No idea whether its a Big Something or other but a good move of the asian low this morning. Anyone on it ?

 

[jezza888]

Morning Zinger,

I went short and got caught out, been long since 540..... yourself?

 

[Zinger]

Morning Zinger,

I went short and got caught out, been long since 540..... yourself?

Morning jezza,

When did you go short ? Good entry for your long though :cheesy:

I was a bit late this morning so missed the bounce off the asian low ( together with a 1-2-3); currently long from 55.....

Whats your target for this move jezza ?

 

[jezza888]

impending triangle

Went short at 520

just got out at 80 from my long after this little sighting and the news due.....

 

[FedePresident]

Hi!

Hi everybody!
I'm long at 1,7449. Let's see today....

 

[jezza888]

Hi everybody!
I'm long at 1,7449. Let's see today....

Welcome FedePresident,

Good luck with your position.... I'm staying out till the BoE say the inevitable and see what happens next... still siding with the triangle view at the moment....

 

[jezza888]

No surprise there then......

LONDON (AFX) - The Bank of England today decided to keep its key repo rate unchanged at 4.50 pct for the eighth month in a row.
The decision was widely expected and not accompanied by a statement.
In a poll conducted by AFX News last week, all 36 forecasters correctly predicted the no change verdict.
Further out, however, opinion is much more divided, and there is a great deal of uncertainty about whether rates will change during 2006 and if they do, which direction they will go in.
Fifteen of the 36 forecasters polled predicted that rates will stay unchanged at 4.50 until the end of the year, while eight reckon there will be one cut, six forecast two cuts and seven believe there will be a hike by the end of the year.
The majority believe that the Monetary Policy Committee's recent rhetoric has suggested that interest rates will remain steadfastly unchanged for the time being.
It is likely that April will again see just one dissenting vote in favour of a rate cut from Stephen Nickell. Nickell has opted for a cut every month since December, but the MPC's lone dove is set to end his term in May.
The MPC was down to eight members this time round due to the departure of Richard Lambert to take up a post as head of the Confederation of British Industry.
The minutes to today's minutes will be published on April 19.

 

[Zinger]

Well this is fun............

 

[jezza888]

that triangle...

If out on a limb (rather than the current pleasures of the beer garden) I would say an afternoon of, well, not much followed by fun and games tommorow on release of NFP figs....

Forexfactory are stating the current NFP forecast at 185k compared to previous at 243k so in theory a new break to the upside from this cureent triangle to finish off the pullback from the larger triangle as pointed out yesterday by jacinto....

Meanwhile, back to the sun!

 

[Zinger]

If out on a limb (rather than the current pleasures of the beer garden) I would say an afternoon of, well, not much followed by fun and games tommorow on release of NFP figs....

Forexfactory are stating the current NFP forecast at 185k compared to previous at 243k so in theory a new break to the upside from this cureent triangle to finish off the pullback from the larger triangle as pointed out yesterday by jacinto....

Meanwhile, back to the sun!

PM for you jezza...........

 

[jacinto]

If out on a limb (rather than the current pleasures of the beer garden) I would say an afternoon of, well, not much followed by fun and games tommorow on release of NFP figs....

Forexfactory are stating the current NFP forecast at 185k compared to previous at 243k so in theory a new break to the upside from this cureent triangle to finish off the pullback from the larger triangle as pointed out yesterday by jacinto....

Meanwhile, back to the sun!

also look at the smaller triangle in the 4hr chart.....break below 20 (i think) triggers = around 80 downside......yet, 7480 is the key number if cable is going south

sorry, on the otherhand, for some reason other than just my hunch, I do not think cable can really break above 7620, unless there is something really bad with tomorrows data. clueless.

Did manage to play the asian range....also had a nice little triangle in between. entry @ 40, stop 29, target 90 (which could have been met If I weren't a whimp with my stops........unfortunately, got cold feet @71 because of what I saww as strong resistance @ 78 and bailed for +30 )

 

[jacinto]

have a look at eurodollar, small triangle at the bottom worth some 40 pips, suggests it could go below 2200 very soon. where is cable going?

 

[jezza888]

sorry, on the otherhand, for some reason other than just my hunch, I do not think cable can really break above 7620, unless there is something really bad with tomorrows data. clueless.

I guess its a case of ait and see, its been a strong recent rise to the current price and there are a few resistance pointers but on the flip side, the forecast for NFP is below previous and, although news is usually beyond me (I like my charts), I think a low figure = bad for dollar???

Did manage to play the asian range....also had a nice little triangle in between. entry @ 40, stop 29, target 90 (which could have been met If I weren't a whimp with my stops........unfortunately, got cold feet @71 because of what I saww as strong resistance @ 78 and bailed for +30 )

30 may not be 50 but certainly better than 0....!