Best Thread Live Cable Trading

[wasp]

I was looking at the elm trader thread
had a look on there web site
Elm trader say that they look at s/r and seasonal trends , and that started me looking at the longer term charts

It is important IMO to always have the past 12 months S/R and trendlines to hand because when cable drops through all recent levels, its got to be stopped somewhere. I don't usually use Fib's but put it on the last chart out of curiousity and it lined up with the major S/Rs well.

The drop yesterday hit the upper resistance from Feb and earlier this month showing it wasn't going higher and once it passed 200 (from 3 points in April and May) the next point lower had to be 8130 at the trendline/Fib level/next S/R (from late April).

Without view of these levels I couldn't distinguish where to exit better than a coin toss.

 

[marmoset]

OK, going over checklist pre-open:

Journal? Check!
CMS running? Check!
ForexFactory running? Check!
4h chart: previous opens eyeballed? Check!
daily chart: trend eyeballed? Check!
Oddball behaviour list at open present? Check!
Stick of gum? Check!

Gentlemen, you may load one stick of gum!
Start your engines!

 

[marmoset]

dead silence... no move yet on cable. eur moved though

 

[marmoset]

Spread bar appearing, day's open at 8189 shown... eur down 3 pips to 2510

 

[marmoset]

ooooh, movement 1pip down, 1 pip up, down 1 up 1 It's alive!

 

[marmoset]

Short at 89 for machine correction (happens rarely but what the hey), hey spikey down to 87, back up to 89

 

[marmoset]

Spike up to 92, comes right back to 89, then 88

 

[marmoset]

No correlation between eur and cable at all, euro's at the low of 2506, cable still tapdancing around 89. There was a spike down to 83, but it lasted a splitsecond, too short to close out short and go long for a spike back to 91-92

 

[AZBOfin]

i'm reading this forum for quite a while now; am not much of a poster though

hey, marmoset... save your breath and strength for tomorrow's game.
hopp schwytz!

AZBOfin

 

[marmoset]

spike down to 81, pops back a pip to 82. Still too early to put in S/L, mentally keeping it at 8200. Back down to 81. C'mon, NY low was 74...

 

[marmoset]

i'm reading this forum for quite a while now; am not much of a poster though

hey, marmoset... save your breath and strength for tomorrow's game.
hopp schwytz!

AZBOfin

While footy isn't quite my cuppa tea I'll be cheering along nonetheless (beer too!) while trading. This is my first full day trading (still working), trying to suck every bit of juice out of it.

So wish me luck and good luck to you too!

 

[marmoset]

OK, machines clearing up positions: spiked up to 93, and right back down to 85 before I could get in another short. Will do it on the next go. Looks like my initial short is right in the middle (including spread).

 

[marmoset]

Sydney in the door

 

[marmoset]

Out at 75: +10 (-4 pips spread, 'member?)

Looking to get long for a bounce of euro's intermediate S1

 

[marmoset]

Oh well, screw it: long at 78 (74+4)

 

[marmoset]

Out at 88, +10 (+10 = +20) :cheesy:

Looking ot go short in a bit (if I don't fall asleep that is :|), Tokyo'll be in pretty soon...

 

[marmoset]

Again, screw it, short at 87

 

[marmoset]

Tokyo in the door

 

[marmoset]

Hmmm, looks like Auckland non-correlation is intact, Sydney was pretty much in sync with euro and Tokyo losing it again: euro up to 2514, cable holding at 8192...

 

[marmoset]

Just for the heck of it, added another short at 97

edit: It will be called averaging down, but the average range on Tokyo is 40 pips, and it's well within my risk and position mgmt sizes.