Best Thread Live Cable Trading

[neil]

5 minute snapshot re- cable

Darvas boxes !! ( revelation )

arent they so similar to Joe Ross 1-2-3 ??
High put in:
then wait for a lower candle ;
then a retrace, where a higher-high and higher-low put in.
then break of low triggers entry.
( a breach of high invalidates signal, and you start all over again )

the time-scales are also fairly similar, in that between 3-5 candles needed to pattern to form.

( I shall go away now and watch my Futurama DVDs ( Bender rules OK ) )

EDIT: difference is, Darvas allows breaks to both upside and downside as valid signal, whereas JR is a reversal pattern, and you only look for a particular direction.

Cable so far for those of you still trading this Easter.
(Darvas boxes are simply price consolidations - can you spot them?)

 

[JillyB]

another possible Darvas on the 30-mins ?

( amazing how taking a different perspective gives different entry/exit criteria )

It's close to news time though at 1.30pm, which always makes me cautious of possible false breakouts. I generally don't trade around this time, but it has broken support on the 30 min chart.

The 20MA is at 1.7523, but there is support below this at 1.7515 - this area would be a good target. :cheesy:

 

[JillyB]

Well it did work on the 30 min chart and it did find support at the 20MA on the chart.

Interestingly there was also a box on the 5 min chart with the base a tad higher at 1.7542, this was breached just before 1.00pm, so there could have been an extra few points for the taking there.

FWIW I didn't trade it, but now wish I had

 

[jacinto]

Well it did work on the 30 min chart and it did find support at the 20MA on the chart.

Interestingly there was also a box on the 5 min chart with the base a tad higher at 1.7542, this was breached just before 1.00pm, so there could have been an extra few points for the taking there.

FWIW I didn't trade it, but now wish I had

well, thats 2 of us spotted a head and shoulders on the smaller time frames, got in before the news (my mistake), got cold feet with stop when it went 10 pips in my favour, so brought stop to BE, only to see it pullback 1 pip abover my stop, get stopped out, and miss on my target of 40 PIPS!!

Need to work on stops. just let go 40 pips. could have been a nice 70 pip day, instead, its 30, well, cant complain

 

[Zinger]

Well it did work on the 30 min chart and it did find support at the 20MA on the chart.

Interestingly there was also a box on the 5 min chart with the base a tad higher at 1.7542, this was breached just before 1.00pm, so there could have been an extra few points for the taking there.

FWIW I didn't trade it, but now wish I had

Following this Darvas strat with interest, especially as the entry points coincide very closely with my own strat, for which I use a 3 min chart.

However, after this action since 130, where does the new box start ? 7503 at 1400 ?

 

[JillyB]

Following this Darvas strat with interest, especially as the entry points coincide very closely with my own strat, for which I use a 3 min chart.

However, after this action since 130, where does the new box start ? 7503 at 1400 ?

I've started the box top at 1.7503, but it has a while to go yet. The formation of the box could interestingly coincide with the open of the Dow.

I'm going over to my Dow trading now, but I may be back a bit later.

 

[Zinger]

Anyone still working out the darvas boxes? If so do you agree with 7519-7501 ?

 

[JillyB]

Anyone still working out the darvas boxes? If so do you agree with 7519-7501 ?

Yes that seems ok and it has pierced it, though the movement doesn't look too strong, so if you get 5 pips I'd take them.

Your stop is the opposite - in this case - bottom level of the box.

Missed my Dow trade - the entry point wasn't hit. It's the only trade my Trading Plan gives me for today, so I'm back on the Cable. (My Dow trading is in my journal)

As I type, Cable head up to 1.7526 - two points off taking 5 pips on this.

 

[trendie]

Anyone still working out the darvas boxes? If so do you agree with 7519-7501 ?

yes, I see it on 5-mins. but not trading it.

by the way, is the "other side" of the box your stop-loss ?

 

[JillyB]

yes, I see it on 5-mins. but not trading it.

by the way, is the "other side" of the box your stop-loss ?

Yes - see previous post.

It made my 5 pips - another one to add to today.

So far 7 trades - 1 loss.

Wins +52 pips (Trading Cable, Swissy, Euro)
Loss -11 pips (Cable at 11.55-12.00)

Total +41

 

[trendie]

Yes - see previous post.

It made my 5 pips - another one to add to today.

So far 7 trades - 1 loss.

Wins +52 pips (Trading Cable, Swissy, Euro)
Loss -11 pips (Cable at 11.55-12.00)

Total +41

and the award for most promising newcomer goes to...... :cheesy:

 

[Zinger]

Yes - see previous post.

It made my 5 pips - another one to add to today.

So far 7 trades - 1 loss.

Wins +52 pips (Trading Cable, Swissy, Euro)
Loss -11 pips (Cable at 11.55-12.00)

Total +41

Great stuff!

Certainly been an eye-opener Jill - as I mentioned earlier I had never heard of it...

Why do you go for 5 pips only ?

 

[JillyB]

Great stuff!

Certainly been an eye-opener Jill - as I mentioned earlier I had never heard of it...

Why do you go for 5 pips only ?

5 pips is really just arbitary. I went for 5 because it was safe and they quite easily add up, plus that any minor breakout on the Cable stands a good chance of making at least 5 pip profit. If it does push through with some force, then as I've said I tend to let it go and move my stop to breakeven to start with, before I trail up. I still find that if it pushes through with some force it still falters after a couple of candles on the 5 min - hey, but by then you've locked in all your profit. Right?

 

[Zinger]

5 pips is really just arbitary. I went for 5 because it was safe and they quite easily add up, plus that any minor breakout on the Cable stands a good chance of making at least 5 pip profit. If it does push through with some force, then as I've said I tend to let it go and move my stop to breakeven to start with, before I trail up. I still find that if it pushes through with some force it still falters after a couple of candles on the 5 min - hey, but by then you've locked in all your profit. Right?

Thanks again Jill !

I thought I was getting somewhere with this - but I do not see your entry that resulted in a loss at 1155-1200 ?

 

[Zinger]

Thanks again Jill !

I thought I was getting somewhere with this - but I do not see your entry that resulted in a loss at 1155-1200 ?

Think I see it now........

 

[JillyB]

Another 5 pips - this time off the Swissy - same format.
Euro too has just - as I type - hit the target, so 5 pips here too.

Thats +51 on the day.

I like simple theories.

 

[Zinger]

Another 5 pips - this time off the Swissy - same format.
Euro too has just - as I type - hit the target, so 5 pips here too.

Thats +51 on the day.

I like simple theories.

Was that from 75 -90 on the swissy ?

 

[JillyB]

Oops! Missed the cable. It went about a minute later and because I was trading the other two I didn't spot it.

Still the theory worked and there was another 5 pips here for the taking.

If you notice the trades are short and sweet. 5-10 minutes and they're finished. That's the way I like to trade, I don't like holding positions for too long. On the Dow this is one thing I have problems with as I tend to get out too soon and not let the profits run. But I have to learn.

Still horses for courses - as they say!

 

[JillyB]

Was that from 75 -90 on the swissy ?

Nope: I had 1.2986 for the top (formed with 15.20 candle)
Base was at 1.2973 formed by lowest candle which was 15.25 candle.

Break out above 1.2986 using OCO order - In at 1.2987 out at 1.2996 (using limit order) - 5 pip profit.

Hope this helps.

 

[Zinger]

Certainly been an interesting afternoon - courtesy of Mr Darvas - and JillyB.........

There was also a quick trade I think on cable as well; 7533-7516.