Best Thread Live Cable Trading

JillyB said:
No. Why? :cheesy:

But have a boyfriend :cry:
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Who's that wonderful woman in your public profile? I dream about her every night... ;)

PS. I am very good to latin dancing. Like Nicolas... :cheesy:
 
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Baruch said:
Who's that wonderful woman in your public profile? I dream about her every night... ;)

PS. I am very good to latin dancing. Like Nicolas... :cheesy:
Click to expand...

Yes, that's me, though the hair is longer these days. I was out earlier today having a dance lesson, today was the Rumba - I'm training up a new partner at the moment.
 
Guys,

I have had a look at the chart and marked all the boxes I can see, there are a lot more boxes then I would have thought at first.

Large Boxes are marked in BLACK , the BLUE and the RED lines with-in are smaller boxes.
Blue boxes generated long trades and Red are for Short.. marked in colour for your ease.

JillyB,

Your second box had 2 smaller boxes within, the first one gave a false long signal after which there was 2nd box which generated a short trade about 2 points above your short entry.

Your 3rd box was invalidated by the 5th Candle penetrating the box top at 1.7791, also there was a smaller box formed with-in which gave us an early long signal. If the previous candle high was taken at 1.7795 this would have been a positive trade.

Please let me know of your thoughts on this. cheers
 

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TraderAli said:
Guys,

I have had a look at the chart and marked all the boxes I can see, there are a lot more boxes then I would have thought at first.

Large Boxes are marked in BLACK , the BLUE and the RED lines with-in are smaller boxes.
Blue boxes generated long trades and Red are for Short.. marked in colour for your ease.

JillyB,

Your second box had 2 smaller boxes within, the first one gave a false long signal after which there was 2nd box which generated a short trade about 2 points above your short entry.

Your 3rd box was invalidated by the 5th Candle penetrating the box top at 1.7791, also there was a smaller box formed with-in which gave us an early long signal. If the previous candle high was taken at 1.7795 this would have been a positive trade.

Please let me know of your thoughts on this. cheers
Click to expand...

Yes, I see, but the first box still hadn't formed fully when you were looking at finding a smaller one inside it. I don't do this.

I do look for smaller boxes, but they have to form inside the first one AFTER it has totally formed. So I would be looking for a new high inside the first box - which is what you have called your third box. The third box still didn't form fully when there was a breakout, so the first box still held firm.

I hope this makes sense.
 
Are you saying that after the last 3 candles making a box complete you can start looking for newly forming smaller boxes ? Sorry I did not understand what you said about a new high forming within the box, I thought that would trigger the trade ? thanks.
 
If the high of the candle exceeds the high of the previous 4 candles which include Candle 2, 3, 4 and 5 - I am assuming that a box has already formed and completed with its 5th candle - If the 6th Candle was higher then the previous 4, would you take this has a higher high within the larger box ? Thanks.
 
TraderAli said:
Are you saying that after the last 3 candles making a box complete you can start looking for newly forming smaller boxes ? Sorry I did not understand what you said about a new high forming within the box, I thought that would trigger the trade ? thanks.
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Yes, after a the box bottom has formed and held, you can start looking for a new box within the larger one if the cable is still consolidating. But to do this you need a high - the box formation always starts with finding the high, such as the top of the next bounce. If this new box doesn't have time to form then the trade is only triggered when the price breakthrough the box top or bottom of the original box.

Does this make sense?
 
JillyB said:
Yes, after a the box bottom has formed and held, you can start looking for a new box within the larger one if the cable is still consolidating. But to do this you need a high - the box formation always starts with finding the high, such as the top of the next bounce. If this new box doesn't have time to form then the trade is only triggered when the price breakthrough the box top or bottom of the original box.

Does this make sense?
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Yes it does, so I as understand we look for peaks to start the box off with in both cases when finding a larger box or smaller boxes within - I would say similar to a 1-2-3 pattern however we are looking for 5 candles in this and always start off with the peak forming the high of the box so basically we are looking for consolidation where-ever found.
 
TraderAli said:
Yes it does, so I as understand we look for peaks to start the box off with in both cases when finding a larger box or smaller boxes within - I would say similar to a 1-2-3 pattern however we are looking for 5 candles in this and always start off with the peak forming the high of the box so basically we are looking for consolidation where-ever found.
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Yes! :cheesy:
 
JillyB said:
Hi Chow,
Sorry I'm a bit late posting these. Had a busy couple of days.
But better late than never.
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Many thanks JillyB. It was the boxes within boxes that would have tripped me up on Friday, so thanks for your clarification!

Have a good week :)
 
JillyB said:
5 pips at 9.30am - glad I took them as it's gone into reverse.
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Yes, we had a spike because of better than expected UK retails sales. Those news spikes makes it a little bit difficult to trade the box method.
 
cable

Baruch said:
Jilly,

Any trades this morning? :cool:
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24 April 2006, Monday
06:11 am Hello
06:48 am Cable is near buying zone.
10:03 am Cable up to 7910. Local targets levels 7920, 7945

FX Strategy
US Dollar Index
Selling strategy
EUR/USD
Buying strategy (Short term positions)
Buying strategy (Long term positions. First target level 1.2410 24.04.2006).
Long term - down trend from 30 December 2004 with first main Resistance at 1.2420
Medium term - up trend from 15 November 2005 with first main Support at 1.1950
Resistance: 1.2400, 1.2410, 1.2420
Support: 1.2220, 1.2110, 1.2020, 1.1950
Fibonacci level 38.2% at 1.2410
Fibonacci level 23.6% at 1.2120
GBP/USD - "Cable"
Buying strategy (Short term positions).
Buying strategy (Long term positions. Target level 1.8210 24.04.2006).
Long term - down trend from 16 December 2004 with first main Resistance at 1.8210
Medium term - up trend from 28 November 2005 with first main Support at 1.7290
Resistance: 1.7935, 1.8000
Support: 1.7730, 1.7680, 1.7635, 1.7600
Fibonacci level 38.2% at 1.8000
Fibonacci level 23.6% at 1.7635
USD/CHF
Selling strategy (Short term positions)
Selling strategy (Long term positions)
Long term - up trend from 30 December 2004 with first main Support at 1.2670
Medium term - main Resistance at 1.3210
Resistance: 1.2820, 1.3070*
Support: 1.2670, 1.2530
Fibonacci level 23.6% at 1.2820
Fibonacci level 30.2% at 1.2530
USD/JPY
Selling (Short term positions)
Selling (Long term positions with stop-loss orders on the (FXSS) level)
Long term - up trend from 17 January 2005. Long term support are broken.
Big Triangle from 5 December 2005. Triangle are broken.
Resistance: 116.70
Support: 113.90
Fibonacci level 23.6% at 116.75
Fibonacci level 38.2% at 113.90
GBP/JPY
Long term - up trend
Neutral or Buying strategy
EUR/JPY
Long term - up trend
Neutral or Buying or Neutral strategy
EUR/GBP
Buying strategy
DJIA
Small Buying Strategy
AUD/USD
Buying strategy or Neutral
 
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