Best Thread Live Cable Trading

GBP/$, $Yen and DOW

Hi forex traders,

I'm a Dow trader but lately I've been watching gbp/$ and $yen moves. I found that

when Dow moves up- $/gbp also moves up, but yen/$ moves down. Do you watch Dow/SPX for forex trading? Any wisdom on the broad markets vs forex correlation will be appreciated.

thanks..,
 
leovirgo said:
Hi forex traders,

I'm a Dow trader but lately I've been watching gbp/$ and $yen moves. I found that

when Dow moves up- $/gbp also moves up, but yen/$ moves down. Do you watch Dow/SPX for forex trading? Any wisdom on the broad markets vs forex correlation will be appreciated.

thanks..,
Click to expand...

Hi Leo,

Too noob to answer that one. To me, DOW is just a follower like the currencies.
As for $/JPY, ask Baruch. For cable ($/£), I watch EUR/$ (thanks again Baruch).

Stock markets are anticipators, generally 6-9 months ahead of time, so are currencies.

Sorry if all I offer is a thin blanket (response), but I do think TA in both types of markets help best.
 
I am long from 1.8555 and expecting it well above 1.8600. The support at 1.8530 gives a really good risk/reward ratio. The retest of the morning star bottom on the daily charts is encouraging and the target should really be approaching 1.8900 but I'm sure I'll be running a trailing stop (and stopped out!) well before that
 
rav700 said:
Thats about it have taken my profit @1.8569 +19[/QUOTE
Total for the day is +66

I am waiting for prices to hit anywhere below 55 again and I will place a big buy order in :cheesy:
Click to expand...
 
rav700 said:
rav700 said:
Thats about it have taken my profit @1.8569 +19[/QUOTE
Total for the day is +66

I am waiting for prices to hit anywhere below 55 again and I will place a big buy order in :cheesy:
Click to expand...

I was not expecting that......It has broken the support of 35 so will wait for the cable to settle a bit :rolleyes:
Click to expand...
 
Offshore Trader said:
Me neither. Final support at 1.8500/10 still expect bounce but flat for now
Click to expand...


It has to bounce off the 500 level ...... otherwise.... well 470 could hold as next support, and if that does not hold then I can see 350 - 330 today (if ECB interest rate hike already priced in) ... all good stuff hey.
 
Last edited:
WTF is going on chaps !! This is testing us all to shake us small players out I think. I'm staying out for a while me it's too volatile.
 
zuke said:
Update..moved trade 2 b/e...now a free trade.
Click to expand...
Stopped out at b/e. Dont you just hate when you miss your target and it reverses?? :( Oh well at least no pips were lost.
 
Cable just hit the pivot point of 8474, now it could climb... I'm still staying out though !!
 
LONG @480, 10 lots Limit @600 (start scaling out); Stop@ 420
Will move stop to b/e when trade hits 530
 
Thanks for your big post yesterday, Marmoset, thats helpful. I'm offline for a few days, family celebration, but am printing out your post to take with me.

Happy trades, guys. :)
 
Why has everyone been so adamant cable is going up?

Assume nothing, expect anything and be prepared to change with the market.

Its down 80 on the day, why not run with it? Some are allready finished for the day... Don't fight it, join it!
 
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