Best Thread Live Cable Trading

[marmoset]

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.

OK, I'm listening for the pointers.

And swing or position does make a difference, a methodological difference. A spot desk trader doesn't care about position, he's into intraday gain. Sure, the research guys give him pointers, but when the market goes against him, he's out as fast as he was in. The CCT desk guys on the other hand, they're into position and they follow a different strategy (btw, the spot desk traders divest the CCT positions to strip the risk of their position trading).

Me, I'm a spot trader. I work the markets intraday, I keep an eye on the big pic, but ultimately, I'm in and out in the blink of an eye. I don't know beforehand which big client orders will be coming in that move the market one way or the other. I have pointers in formations, fibo, S/R levels etc., but ultimately I'm jobbing the market for intraday gains. THAT is the glove that fits me. Whichever way the market goes, I'm there to take advantage of it. So any knowledge about the market you're willing to share falls on very attentive ears!

 

[marmoset]

Tokyo delivering: +30

L44 filled

 

[marmoset]

And -15, keep forgetting Tokyo around 1.30am is a range play, buy low, sell high. Numbnuts me

 

[marmoset]

L44 hit again... any pressure to bust off and through???

 

[Baruch]

yes and no I am short from that level but the flight is this weekend not last week as I thought. At this point you may laugh a lot ( yes we packed a week early)

Short from 1.8800? So you were at one time sitting on a 200 pips loss?

 

[coolTrader]

UK Retail sales out today. good thing I double checked I thought today was going to be a quiet day!

 

[dc2000]

Yes Baruch but the long that I turned had been running since 1.7412 in April so only smarted a little

 

[marmoset]

Well, the market is clearly waiting for the 1.30pm news. Rate has been hovering around the pivot of 8875 for the last two and a half hours.

Looking at the 4h chart, the uptrend that started at April 17th is still within the channel boundaries (width: +/- 7days). We've had a double top at 9000, that's where today's R2 is lying. Retracements were on average stopped at 8780.

Given that the uptrend is still valid and we're at about the 38.2% fibo for the week, I think a re-test of 9000 is in the cards.

That said, tomorrow's Non-farm employment change figures will likely be the trigger for the continued up move, clearing the 9100 hurdle. (or for the trend to break the channel bottom boundary).

Just got stopped out of S63 for +17
L54 with target 91 anticipating a big swing on the news.

edited out a glaring error (9000 i/o 9100)
edited to add: so tomorrow the L08s are getting the trend bias: double position.

 

[smbtnt]

'We've had a double top at 9100'

You mean 9000 right?

 

[marmoset]

'We've had a double top at 9100'

You mean 9000 right?

Yeppers! Was just editing the post when you replied. Sorry, still nursing first coffee.

Market made a hash out of my MonkeyBounce levels, barely up 34 pips.

 

[marmoset]

re 9100, must have been a Freudian slip

 

[marmoset]

DMI sys on 30min chart confirmed a short alert

 

[smbtnt]

the vacuum alerts on cable are slightly askew as the time frames have gone out of synch, i have two alerts: 8976 and yesterdays 8764 (missed by 10 pips) still pending. Ideally the latter should be hit 1st, which in turn will remap the vacuum zones.

 

[marmoset]

the vacuum alerts on cable are slightly askew as the time frames have gone out of synch, i have two alerts: 8976 and yesterdays 8764 (missed by 10 pips) still pending. Ideally the latter should be hit 1st, which in turn will remap the vacuum zones.

Latter being hit 1st... Quite possible, 4h chart showing an indecision doji. Oh well, I'm undecided too. Only one answer: spike the minefield and let 'er rip! :cheesy:

 

[Baruch]

Yes Baruch but the long that I turned had been running since 1.7412 in April so only smarted a little

Oh, so you are one of those few long term traders? What time frame do you use?

 

[rav700]

Where are all our cable traders today?????

 

[wasp]

enjoying yesterdays profits!?

 

[smbtnt]

triangle brewing on the bigger time frames, fine target and good r/r.

 

[hornblower]

smbtnt
do tell !!

rev700
we are around but not a lot going on

 

[smbtnt]

ok, smaller vacuum target also forming on cable now, around 8870, but still not very clear picture.
Also I cannot get my charts up, IT have decided to pull some java or secuirty stunt so unfortunately i cannot post the image until i get home.

Ascending flat top triangle, breakout either way will result in 250 pip move.