Best Thread Live Cable Trading

[wasp]

it does seem a tad eager to be callling a head and shoulders.


at a guess....

 

[elbart]

it does seem a tad eager to be callling a head and shoulders.


at a guess....

.... it is not H&S yet, and it well to early to be calling it this, as it can change completely and form something totally different - only when it is complete then it can called as such. It was only suggested that it might do..... only time will tell.

 

[wasp]

.... it is not H&S yet, and it well to early to be calling it this, as it can change completely and form something totally different - only when it is complete then it can called as such. It was only suggested that it might do..... only time will tell.

no offence, just curious and noticed it had a bit to go.

 

[rols]

no offence, just curious and noticed it had a bit to go.

How nice to find such a polite thread!

I've never been big on chart patterns because the eye sees what it wants to I'm afraid. Just look at say 10 eye witness reports of a car crash, I'll bet they're all different. Then there's the question of time frames.....

Any road I'm still in the Short....

 

[rols]

How nice to find such a polite thread!

I've never been big on chart patterns because the eye sees what it wants to I'm afraid. Just look at say 10 eye witness reports of a car crash, I'll bet they're all different. Then there's the question of time frames.....

Any road I'm still in the Short....

...out + 22

 

[elbart]

I think we can rule out the H&S now..... especially I think it's a shorting market now. Wasp, cool, no offence taken, as Rols writes 'the eye sees what it wants to'. 🙂

 

[coolTrader]

I think we can rule out the H&S now..... especially I think it's a shorting market now. Wasp, cool, no offence taken, as Rols writes 'the eye sees what it wants to'. 🙂

The reverse head and shoulder I was looking at has played out a looong ago from 15 to 45 😉
It was no imaginary one. Remember there can be pattern failure in which case you are out..

Take a look at the chart. it ended becoming a triangle which broke down.

 

[coolTrader]

it does seem a tad eager to be callling a head and shoulders.


at a guess....

What you have drawn is a reverse h/s looking at your chart though you can see a head and sholder with the shoulder 1880 both left and writh and the head at1.8990

 

[smbtnt]

As we are on the topic of patterns - i see a descending wedge on cable which can potentially turn out to be a frightfully bullish pattern.

 

[jacinto]

As we are on the topic of patterns - i see a descending wedge on cable which can potentially turn out to be a frightfully bullish pattern.

i saw that one myself, but wont be awake to see what happens......i also see that some potentially good resistance is starting to build higher up on the way to 1.900 , and on the other hand, we do have 2 issues to think of...

1)) tweezers on the daily, of which the second day is, yes...
2) a bearish engulfing on the daily


all in all, a good potential reversal in the making 😉
(look at monthly charts.....potential head and shoulders on the making, and this is the right shoulder....if it happens........some time before we know, and that irritates me)

eurodollar has a much clearer wedge, so your comment could still be right. will see in the morning.

 

[smbtnt]

quick post

patterns: reverse hs forming, currently at right hand shoulder stage

 

[jacinto]

quick post

patterns: reverse hs forming, currently at right hand shoulder stage

hi, what time frame do you use?

 

[droog]

quick post

patterns: reverse hs forming, currently at right hand shoulder stage

Are you looking at the 1hr chart smbtnt?

ta

 

[jacinto]

right, short 8827, stop 8842, exit on a limit at 8865

edit....8765...sorry

 

[jacinto]

right, short 8827, stop 8842, exit on a limit at 8865

edit....8765...sorry

that didnt work...out for -15

edit...;.that is irritating....miscalulated resistance and taken at 42, cable goes to 43, and then tanks...well, nex one. 65 is still the target

 

[elbart]

quick post

patterns: reverse hs forming, currently at right hand shoulder stage

... yep, it looks good so far. Let's hope that 9.30am CPI helps it along it's way. 🙂

 

[hornblower]

doller /yen long 110.28
edit closed 110.48
20+ points

 

[smbtnt]

My favoured time frame is the 60 mins, once i am partial to a pattern or zone i zoom into lower timeframes for an entry/limit/stop.

Neck line sitting at yesterday's R 8860-8870, I also have a vacuum zone at 8930 which 'generally' get hit (look at yesterdays example), if the breakout is successful the head target is approx 100 pips ie 8960. Also the bounce off 8760 was a fib level which adds more fuel to the fire.

The other possibility being a breakdown of the lows after a double top rejection at R - 8860.

I favour the former fwiw.

 

[smbtnt]

i saw that one myself, but wont be awake to see what happens......i also see that some potentially good resistance is starting to build higher up on the way to 1.900 , and on the other hand, we do have 2 issues to think of...

1)) tweezers on the daily, of which the second day is, yes...
2) a bearish engulfing on the daily


all in all, a good potential reversal in the making 😉
(look at monthly charts.....potential head and shoulders on the making, and this is the right shoulder....if it happens........some time before we know, and that irritates me)

eurodollar has a much clearer wedge, so your comment could still be right. will see in the morning.

Good observation Jacinto, every pattern in my arsenal has potentially both bullish and bearish connotations, what makes me bias to one or the other lies in the underlying trend.
If this is the Right hand shoulder on the monthly then we are in for some choppy range plays.

 

[jacinto]

that didnt work...out for -15

edit...;.that is irritating....miscalulated resistance and taken at 42, cable goes to 43, and then tanks...well, nex one. 65 is still the target

target met