Best Thread Live Cable Trading
rav700
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elbart said:Hi Rav700, so u did well yesterday. So what's ur prediction 4 today?
I am waiting for london open now and am going to be buying on dips ..
Missed out on the first spike but if the bigben occurs will buy @ 1.8900 level
ie
[email protected] [email protected] and [email protected] with a trailing stop.....Lets see how it goes
Happy trading....
Best of luck
your thoughts....
kon_london
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cable
GBP/USD - "Cable"
Buying strategy (Short term positions).
Buying strategy (Long term positions).
Long term - up trend from 28 November 2005 with first main Support at 1.7320
Resistance: 1.9000
Support: 1.8750, 1.8530
Fibonacci level 61.8% at 1.8600
Fibonacci level 50.0% at 1.8300
Fibonacci level 38.2% at 1.8000
Fibonacci level 23.6% at 1.7635
GBP/USD - "Cable"
Buying strategy (Short term positions).
Buying strategy (Long term positions).
Long term - up trend from 28 November 2005 with first main Support at 1.7320
Resistance: 1.9000
Support: 1.8750, 1.8530
Fibonacci level 61.8% at 1.8600
Fibonacci level 50.0% at 1.8300
Fibonacci level 38.2% at 1.8000
Fibonacci level 23.6% at 1.7635
smbtnt said:
Well the inv hs delivered the 100 pip target 8960. The vacuum zone was hit at 8930.
Critical levels now at 1.9000 - if broken i am getting eventual zones of 9150-9160.
Longs still in play from 8768, shorts stopped out at 8862. The pull back missed my limit by 10 pips to add to the longs at 8895. C'est la vie.
Can this area hold a retrace:
1.8949 Fib Sup (1.8896 / 1.9002) 50.0
1.8945 Fib Sup (1.8852 / 1.9002) 38.2
1.8944 Spike Low
1.8940 Retrace Low
1.8936 Fib Sup (1.8896 / 1.9002) 61.8
Good for a long, depending on how it sets up, with stop below this cluster ?
1.8949 Fib Sup (1.8896 / 1.9002) 50.0
1.8945 Fib Sup (1.8852 / 1.9002) 38.2
1.8944 Spike Low
1.8940 Retrace Low
1.8936 Fib Sup (1.8896 / 1.9002) 61.8
Good for a long, depending on how it sets up, with stop below this cluster ?
Danger Field
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The significance of what you are doing when you trade the money markets is to understand the broad brush strokes of the supply/demand levels. You can play with fib levels and support/resistance levels and any other specialist levels you want, but they are just toys. Distractions. They will come true just often enough to convince you there is something in them.
If you want to trade like a professional money markets trader, then do what they do. Jumping in and jumping out where your profit runs are barely more than your stops is just playing the slot machines. Pennies.
You do not have the advantages of the pro market traders in that your commissions and costs are going to prevent you doing anything at all smart in terms of scalping. If you try it, you will look busy and you may even end up at break even if you work hard enough. This is not a sensible use of your time. Even if you enjoy it. It just clutters.
How do you understand the broad brush strokes of the supply/demand levels in the money markets?
Take a look at your FX pair of choice - Cable. Where is it, right now? Where was it at the last obvious high? When was that? And the same for the low. When? And where?
Use daily, weekly and monthly charts.
Anyone who cares to actually do this basic research and come back with it, I will be willing to take you further.
If you want to trade like a professional money markets trader, then do what they do. Jumping in and jumping out where your profit runs are barely more than your stops is just playing the slot machines. Pennies.
You do not have the advantages of the pro market traders in that your commissions and costs are going to prevent you doing anything at all smart in terms of scalping. If you try it, you will look busy and you may even end up at break even if you work hard enough. This is not a sensible use of your time. Even if you enjoy it. It just clutters.
How do you understand the broad brush strokes of the supply/demand levels in the money markets?
Take a look at your FX pair of choice - Cable. Where is it, right now? Where was it at the last obvious high? When was that? And the same for the low. When? And where?
Use daily, weekly and monthly charts.
Anyone who cares to actually do this basic research and come back with it, I will be willing to take you further.
marmoset
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Danger Field said:
Agree, to a degree...
When I'm at the screen, I try to job, or milk, if you like, the market, trying to get the swings right. When I'm not around, I just put in my orders at what I think are significant levels of reversal, congestion etc.
What you outline above is the basics for a position trader. That glove doesn't fit me, something to do with knowing myself. I do keep an eye on the broader picture. I'd be a damned fool if I didn't. But that doesn't stop me from trying to get a fair share of pips out of the noise.
Doing fine at that, up 200 pips for the week, which is the range for the week up till now (flat if I'd positiontraded).
News ahead, more noise, more chop.
Danger Field
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wasp said:
Danger Field
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Nothing to do with swing or position. This is not a glove you can just try on. The market does not care if you know yourself or not. It is totally irrelevent. YOU must know the market. I will give you some pointers.marmoset said:
rav700
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Danger Field said:wasp said:
