Best Thread Live Cable Trading
trendie
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hi zuke, good to hear you are still around.
last two days have been dire for me.
narrow range, whippy, my MAs have "handed my head to me on a plate", as someone would say.
just as well I am at work, and am only trading larger time-frames, and thus fewer whipsaws, but painful ones nonetheless.
( if I had been home trading a shorter time-frame, I would have lost my house )
when will I ever learn...... 🙄
last two days have been dire for me.
narrow range, whippy, my MAs have "handed my head to me on a plate", as someone would say.
just as well I am at work, and am only trading larger time-frames, and thus fewer whipsaws, but painful ones nonetheless.
( if I had been home trading a shorter time-frame, I would have lost my house )
when will I ever learn...... 🙄
TheBramble
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Back in the Saddle
First trades today for over a month. Strange feeling.
Shaped up slowly. I took the bounce of the lower range I mentioned in my post this morning just after 09:00 GMT almost got stopped around 13:00 and rode it up to the upper level at 14:30. Seemed like hard work for a risible 42pips. Didn't want to get back in for the ride back down as it had been a lacklustre day. Almost regretted it!
I didn't take the powerful break out above my upper range being wary of a fake and even waited for the subsequent 5 min bar to complete before signalling to me it was a definite move. Got in at 930 at 15:18.
Set my stop to 970 once we got above 8000.
Although my absolute level stop never triggered, my gradient stop (time/action) did trigger at 20:15 at 8024.
I'm going back to digging irrigation ditches. This is too much like hard work.
First trades today for over a month. Strange feeling.
Shaped up slowly. I took the bounce of the lower range I mentioned in my post this morning just after 09:00 GMT almost got stopped around 13:00 and rode it up to the upper level at 14:30. Seemed like hard work for a risible 42pips. Didn't want to get back in for the ride back down as it had been a lacklustre day. Almost regretted it!
I didn't take the powerful break out above my upper range being wary of a fake and even waited for the subsequent 5 min bar to complete before signalling to me it was a definite move. Got in at 930 at 15:18.
Set my stop to 970 once we got above 8000.
Although my absolute level stop never triggered, my gradient stop (time/action) did trigger at 20:15 at 8024.
I'm going back to digging irrigation ditches. This is too much like hard work.
kon_london
Junior member
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cable
We wait the next buying zone
We wait the next buying zone
hornblower
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smbtnt
the price says ,its had 6 attempts at passing 18084
so it may be down from here
what do you think?
the price says ,its had 6 attempts at passing 18084
so it may be down from here
what do you think?
rav700
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My 10 pip scalp for sunday
Hi Guys,
I am going to start posting my trades on the live cable forum .
So here it goes for The forex trading opening.
Current thought on cable a little bit of correction is required as per my technical analysis.
My objective is just 10 pips a day instead of the usual as I have learnt over the years that preservation of capital and profits is more importants then making big profits or losses.
Any way as for the trade.
Sell at Market opening for 1.2857
Stop loss at 1.2877
Take profit level at 1.2847 or move stop loss to 1.2847 and let the profit roll for another 10 pips
Happy trading guys
Best of luck
Please note I am only providing the trade that I wil be placing if you are going to be trading please use your own instincts.....
Hi Guys,
I am going to start posting my trades on the live cable forum .
So here it goes for The forex trading opening.
Current thought on cable a little bit of correction is required as per my technical analysis.
My objective is just 10 pips a day instead of the usual as I have learnt over the years that preservation of capital and profits is more importants then making big profits or losses.
Any way as for the trade.
Sell at Market opening for 1.2857
Stop loss at 1.2877
Take profit level at 1.2847 or move stop loss to 1.2847 and let the profit roll for another 10 pips
Happy trading guys
Best of luck
Please note I am only providing the trade that I wil be placing if you are going to be trading please use your own instincts.....
jezza888
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LONDON (AFX) - There is a "strong case" for the Bank of England's Monetary Policy Committee to surprise the market with a preemptive interest rate hike when it meets next week in order to counter rising inflation expectations, a leading UK think-tank said.
The National Institute for Economic and Social Research are calling for a quarter point hike in the base rate to 4.75 pct on the back of the recent sharp rise in inflation expectations.
"The last thing a central bank can afford is for inflation expectations to move up," said Ray Barrell, a senior research fellow at NIESR.
"I would advocate a preemptive rate hike now," he said.
As a minimum, the central bank should make a comment that interest rates may need to go up soon, Barrell said.
An interest rate hike next week, however, would come as a major shock to financial markets.
Although the market is gradually starting to price in a rate hike as the next move by the Bank of England, most believe this will not happen until well into the second half of this year, while many still believe there is a chance the next move will be a cut.
Barrell pointed to the Bank of England's latest survey of public attitudes to inflation, which found expectations for the coming year had jumped to 2.7 pct from 2.2 pct in November last year -- their highest level since the survey began in 1999.
Rising inflation expectations can be expected to affect wage bargaining in the labour market and will feed through into higher wage pressures, Barrell argued.
He also cited evidence of rising inflation expectations in long-term bond prices and the depreciation of sterling.
"The risks are definitely biased towards more inflation rises," he said, adding that if people started to lose faith in the Bank of England's inflation target of 2.0 pct on a two-year horizon, it could have serious consequences.
However, NIESR are not calling for any further rate hikes and believe one hike to 4.75 pct will be sufficient for this year.
Barrell was speaking in a press conference accompanying NIESR's latest forecasts for the UK economy, in which it raised its expectations for inflation.
NIESR now forecasts CPI inflation will hit 2.4 pct by the fourth quarter of 2006, higher than the previous 2.2 pct forecast, and 2.2 pct by the end of 2007, up from 1.9 pct previously.
The Monetary Policy Committee begins its monthly two-day rate-setting meeting on Wednesday next week, with an announcement due at noon on Thursday.
The National Institute for Economic and Social Research are calling for a quarter point hike in the base rate to 4.75 pct on the back of the recent sharp rise in inflation expectations.
"The last thing a central bank can afford is for inflation expectations to move up," said Ray Barrell, a senior research fellow at NIESR.
"I would advocate a preemptive rate hike now," he said.
As a minimum, the central bank should make a comment that interest rates may need to go up soon, Barrell said.
An interest rate hike next week, however, would come as a major shock to financial markets.
Although the market is gradually starting to price in a rate hike as the next move by the Bank of England, most believe this will not happen until well into the second half of this year, while many still believe there is a chance the next move will be a cut.
Barrell pointed to the Bank of England's latest survey of public attitudes to inflation, which found expectations for the coming year had jumped to 2.7 pct from 2.2 pct in November last year -- their highest level since the survey began in 1999.
Rising inflation expectations can be expected to affect wage bargaining in the labour market and will feed through into higher wage pressures, Barrell argued.
He also cited evidence of rising inflation expectations in long-term bond prices and the depreciation of sterling.
"The risks are definitely biased towards more inflation rises," he said, adding that if people started to lose faith in the Bank of England's inflation target of 2.0 pct on a two-year horizon, it could have serious consequences.
However, NIESR are not calling for any further rate hikes and believe one hike to 4.75 pct will be sufficient for this year.
Barrell was speaking in a press conference accompanying NIESR's latest forecasts for the UK economy, in which it raised its expectations for inflation.
NIESR now forecasts CPI inflation will hit 2.4 pct by the fourth quarter of 2006, higher than the previous 2.2 pct forecast, and 2.2 pct by the end of 2007, up from 1.9 pct previously.
The Monetary Policy Committee begins its monthly two-day rate-setting meeting on Wednesday next week, with an announcement due at noon on Thursday.
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jezza888
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LONDON (AFX) - The dollar slid to a near 11-month low against the euro on softer than anticipated US economic data.
A slew of economic reports on US first-quarter gross domestic product growth, employment costs, consumer sentiment and business activity in the Chicago area, which all came in below forecasts, reinforced expectations that the US Federal Reserve is nearing the end of its interest rate tightening cycle.
In particular, analysts cited the news that the US economy grew at an annual rate of 4.8 pct in the first quarter of 2006, slightly lower than expectations of a 4.9 pct increase.
In addition, markets focused on further evidence of a moderation in inflation, particularly on employment costs, which should ease concerns that a tight labour market is a major source of inflationary pressures.
The core consumer price index (excluding food and energy) retreated to a 2 pct annual rate from 2.4 pct, which pushed the year-on-year gain down to 1.9 pct, just below the top of the Federal Reserve's target range. The employment cost index also came in below expectations at 0.6 pct.
"All in all these numbers are unlikely to change anything for the Fed, and if anything the subdued rise in employment costs reinforces our view that rates will not go beyond 5.0 pct," said Henrik Gullberg, FX strategist at CALYON.
Today's news comes after Ben Bernanke, the Fed's new chairman, told a congressional committee that Fed policymakers may decide to pause in hiking interest rates. A further negative for the dollar came when Bernanke expressed concern over the US' record high current account deficit. Tackling the widening shortfall presents a challenge, he said, adding that it could lead to "disruptive changes" in the dollar and other asset prices.
"In general, the market seems to be in a sell dollar mode," said John McCarthy, director of foreign exchange trading at ING Capital Markets.
"We believe that the Fed is about to be finished raising rates for the time being, while in the rest of the world, rates are going higher," he added.
Expectations of an imminent Fed pause, contrasting predictions of tighter monetary policy from the European Central Bank and the Bank of Japan, has been the main reason behind the dollar's slump on the foreign exchange markets in recent weeks, though other factors have negatively impacted on the US currency.
While the Fed is now expected to hike once more in May, taking its key repo rate to 5.0 pct, the ECB is expected to continue lifting its key refi rate over the coming year from the current 2.50 pct. Meanwhile, the BoJ is readying itself to start lifting borrowing costs again after a multi-year gap.
Following today's news, the euro rose to 1.2596 usd, its highest level since May 26, 2005, while the pound surged to 1.8176 usd, its highest since Sept 15, 2005. Meanwhile, the dollar was falling back down towards yesterday's 3-month low of 113.83 yen.
Bernanke's comments merely added to the spate of dollar-negative factors this week -- including the G7 communique calling for greater currency flexibility in Asian currencies, central bank reserve diversification away from the dollar and China's rate hike yesterday.
"April has been a horrible month of the dollar," said Marc Chandler, currency strategist at Brown Brothers Harriman, in a note.
"The overriding factor is bearish dollar sentiment and further dollar losses are likely," he added.
A slew of economic reports on US first-quarter gross domestic product growth, employment costs, consumer sentiment and business activity in the Chicago area, which all came in below forecasts, reinforced expectations that the US Federal Reserve is nearing the end of its interest rate tightening cycle.
In particular, analysts cited the news that the US economy grew at an annual rate of 4.8 pct in the first quarter of 2006, slightly lower than expectations of a 4.9 pct increase.
In addition, markets focused on further evidence of a moderation in inflation, particularly on employment costs, which should ease concerns that a tight labour market is a major source of inflationary pressures.
The core consumer price index (excluding food and energy) retreated to a 2 pct annual rate from 2.4 pct, which pushed the year-on-year gain down to 1.9 pct, just below the top of the Federal Reserve's target range. The employment cost index also came in below expectations at 0.6 pct.
"All in all these numbers are unlikely to change anything for the Fed, and if anything the subdued rise in employment costs reinforces our view that rates will not go beyond 5.0 pct," said Henrik Gullberg, FX strategist at CALYON.
Today's news comes after Ben Bernanke, the Fed's new chairman, told a congressional committee that Fed policymakers may decide to pause in hiking interest rates. A further negative for the dollar came when Bernanke expressed concern over the US' record high current account deficit. Tackling the widening shortfall presents a challenge, he said, adding that it could lead to "disruptive changes" in the dollar and other asset prices.
"In general, the market seems to be in a sell dollar mode," said John McCarthy, director of foreign exchange trading at ING Capital Markets.
"We believe that the Fed is about to be finished raising rates for the time being, while in the rest of the world, rates are going higher," he added.
Expectations of an imminent Fed pause, contrasting predictions of tighter monetary policy from the European Central Bank and the Bank of Japan, has been the main reason behind the dollar's slump on the foreign exchange markets in recent weeks, though other factors have negatively impacted on the US currency.
While the Fed is now expected to hike once more in May, taking its key repo rate to 5.0 pct, the ECB is expected to continue lifting its key refi rate over the coming year from the current 2.50 pct. Meanwhile, the BoJ is readying itself to start lifting borrowing costs again after a multi-year gap.
Following today's news, the euro rose to 1.2596 usd, its highest level since May 26, 2005, while the pound surged to 1.8176 usd, its highest since Sept 15, 2005. Meanwhile, the dollar was falling back down towards yesterday's 3-month low of 113.83 yen.
Bernanke's comments merely added to the spate of dollar-negative factors this week -- including the G7 communique calling for greater currency flexibility in Asian currencies, central bank reserve diversification away from the dollar and China's rate hike yesterday.
"April has been a horrible month of the dollar," said Marc Chandler, currency strategist at Brown Brothers Harriman, in a note.
"The overriding factor is bearish dollar sentiment and further dollar losses are likely," he added.
marmoset
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Hi,
I'm new to posting here, lurked for a while though.
23.27GMT went long .2 at 8250 (limit entry breakout, anticipating classical Tokyo 40pips up)
05.27GMT closed out at 8270 for 20pips as it had stalled at 8277, not reaching my goal of 8290
reversed to short .1 at 8270 looking for a pre-Big Ben down to 8230
entered limitbuy of .1 at 8234 with limit to 8254 to catch pre-Big Ben correction
If pre-Big Ben works out, I'll go short at 8254 to see it down to 8200, off of which a big figure bounce is likely to occur.
To answer likely questions: real money, 15min, EMA 7, 20, 40, Bollis, MACD, pivots daily :cheesy:
20 pips before my first coffee, nice way to start the day 😆
PS: putting in a safety net entry stop buy of .1 at 8278 in case the upward madness continues...
Better safe than sorry. 😕
I'm new to posting here, lurked for a while though.
23.27GMT went long .2 at 8250 (limit entry breakout, anticipating classical Tokyo 40pips up)
05.27GMT closed out at 8270 for 20pips as it had stalled at 8277, not reaching my goal of 8290
reversed to short .1 at 8270 looking for a pre-Big Ben down to 8230
entered limitbuy of .1 at 8234 with limit to 8254 to catch pre-Big Ben correction
If pre-Big Ben works out, I'll go short at 8254 to see it down to 8200, off of which a big figure bounce is likely to occur.
To answer likely questions: real money, 15min, EMA 7, 20, 40, Bollis, MACD, pivots daily :cheesy:
20 pips before my first coffee, nice way to start the day 😆
PS: putting in a safety net entry stop buy of .1 at 8278 in case the upward madness continues...
Better safe than sorry. 😕
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marmoset
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Hmm, Labour Day seems to be evolving into one of those slow, tight range, jobbing days...
20 pipper scalp jobs seem to be the tune for the day... go long low, go short high,
Tokyo hi/lo being the range bounds atm. (8227/77, 50 pips on the nose)
Jumped the gun and and closed my 8270 short (66 with spread) at 8236 for 30pips.
Went long .1 at 8245 limit 8270 (CMS server prob causing slippage)
entered entrylimit sell at 8268 for another whack at 8244
entered entrystop sell at 8231 limit 8207 in case it goes south, limit at big fig bounce
entered entrylimit buy at 8210 limit to be determined later in the day. (capture big fig bounce)
safety net entrystop buy at 8278 still in place (ya never know), changed to 8282 to stay above Tokyo hi (4 pips spread).
70 pips so far on a ZZZZZZZZZZZZZZ day :cheesy:
PS Hammer formed on the 15min at 9.30GMT, let's see if it pans out.
20 pipper scalp jobs seem to be the tune for the day... go long low, go short high,
Tokyo hi/lo being the range bounds atm. (8227/77, 50 pips on the nose)
Jumped the gun and and closed my 8270 short (66 with spread) at 8236 for 30pips.
Went long .1 at 8245 limit 8270 (CMS server prob causing slippage)
entered entrylimit sell at 8268 for another whack at 8244
entered entrystop sell at 8231 limit 8207 in case it goes south, limit at big fig bounce
entered entrylimit buy at 8210 limit to be determined later in the day. (capture big fig bounce)
safety net entrystop buy at 8278 still in place (ya never know), changed to 8282 to stay above Tokyo hi (4 pips spread).
70 pips so far on a ZZZZZZZZZZZZZZ day :cheesy:
PS Hammer formed on the 15min at 9.30GMT, let's see if it pans out.
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