Best Thread Live Cable Trading

[ChowClown]

Thanks for the encouragement OT.

 

[marmoset]

Sitting in the office watching that superduper move isn't fun

Tomorrow's Senate testimony by Bernanke may or may not cause a similar size move, but a move it will cause. Seems that today he was fairly dovish on a new rate hike as the economy was already slowing. He kept the door on future rate hikes open by stating that they needed to remain flexible. It's just that everybody figured that the Fed won't raise the rate in August, hence the dollar's weakness across the board.

Tomorrow's tradeable news: UK retail sales at 10.30CET (midsize mover, not as big as BOE minutes) and US unemployment figs (no big mover) at 14.30CET. Later on there's a slew of news, could turn into a bumpy ride while I'm not around...

 

[wasp]

Sitting in the office watching that superduper move isn't fun

Tomorrow's Senate testimony by Bernanke may or may not cause a similar size move, but a move it will cause. Seems that today he was fairly dovish on a new rate hike as the economy was already slowing. He kept the door on future rate hikes open by stating that they needed to remain flexible. It's just that everybody figured that the Fed won't raise the rate in August, hence the dollar's weakness across the board.

Tomorrow's tradeable news: UK retail sales at 10.30CET (midsize mover, not as big as BOE minutes) and US unemployment figs (no big mover) at 14.30CET. Later on there's a slew of news, could turn into a bumpy ride while I'm not around...

Unlucky for missing the big move Marmoset.

Do you know what Bernanke will be talking about tomorrow that he didn't touch on today?

 

[dc2000]

Tomorrow's Senate testimony by Bernanke may or may not cause a similar size move, but a move it will cause

my preference would be for a sideways down up down up day ( 330 - 410)ish then a nice profitable move Friday

 

[wasp]

an attempt at studying price

I've been using indicators up till now and made lots of money over the last few weeks but also managed to lose a big chunk over the last couple of days. Whilst I was losing it all I was watching the blank charts attatched and my analysis and views worked out (long at 3pm) but still yet to get my confidence up without the indicators.

Appreciate any thoughts and comments.

At the moment, because it broke that trendline slope I think tomorrow and on will see it increasing up to the 600 level but no large amounts of £££ on it (just in case - early days of PA)

 

[jonnyy40]

Sometimes like on a sunny day at sea you can just slip out of sight of the coast because of haze.If you have some indicator you can use it/them to get your bearings.

 

[wasp]

Sometimes like on a sunny day at sea you can just slip out of sight of the coast because of haze.If you have some indicator you can use it/them to get your bearings.

Very true and completely agree with your point but the problem is when its a spiky/flat/choppy day like today (pre 3pm) I get too many signals and therefore, like today, I managed to initially lose the 140 pips I made back thanks to Bernanke. Can be really frustrating.

 

[coolTrader]

Very true and completely agree with your point but the problem is when its a spiky/flat/choppy day like today (pre 3pm) I get too many signals and therefore, like today, I managed to initially lose the 140 pips I made back thanks to Bernanke. Can be really frustrating.

Yes Made some loss today! could have made it back but could not get a fill. Was rather frustrating! even before the news! But tommorrow is another day! :cheesy:

 

[dc2000]

Hi Wasp
looking at the charts they are a bit busy for me there is no doubt that trend lines and channels do work but they can suffer at changes in trend and also when the market is trading sideways, having said this and looking at your chart if we are to accept the trend line break and look to target 600 area I would be looking for a solid bounce off the upper trend line before entering a position.
As for indicators these can also give false signals, some people swear by them but I dont use them myself

 

[martin brown]

my preference would be for a sideways down up down up day ( 330 - 410)ish then a nice profitable move Friday

IMO, Ben has alredy shot his load. 2nd time round, and Ben would need to U-turn today's dovish comments for the market to react.

Uk Retail sales is the next risk event.

Philly Fed may create a few choppy scalping opps.

FOMC minutes will be "old news".

Friday looks dull, most traders will head home early.

 

[dc2000]

forgot to add to the above the 2 things I use for price analysis are Excel and a desktop calculator

 

[dc2000]

looks like everyones off spending their hard earned from yesterday

 

[wasp]

I'm here... watching... been long since the open....

Well, my open, which is my eyes, and thats usually about 7am!

 

[Offshore Trader]

I was expecting a move back down towards the 1.8400 level and am short from 60 but losing a little confidence given the rangebound nature of the dollar against all currencies. It probably needs a move up in EUR/GBP if Cable is to reach even 1.8420 in the next few hours

 

[dc2000]

money off the table for me this morning I was not happy with the price durring the asian sesh, if the short is still playable I will get another entry tomorrow as I still have today as a sideways move to the close

 

[coolTrader]

looks like everyones off spending their hard earned from yesterday

Wish I was among them I am here trying to get some good profits. Seems good so far today.

 

[zuke]

Morning all. A quiet day for me probably (still basking in 200+ pips yesterday!). Although a short at 480 res is possible.

 

[coolTrader]

Morning all. A quiet day for me probably (still basking in 200+ pips yesterday!). Although a short at 480 res is possible.

200+ Enjoy that is my 2week target... go on holiday take a break enjoy the sun :cheesy:

 

[wasp]

I'm here... watching... been long since the open....

Well, my open, which is my eyes, and thats usually about 7am!

Moved my stop up to 75 to lock in 40 pips regardless...

Going by the channel and trendline chart it should reach 525 but I'm taking no chances!

EDIT - stop to 85 now so +50 for day and I'll be happy

 

[wasp]

ambitious

I think I'll move my stop tighter when / if it gets up to 525 but I wonder if Bernanke will reverse it there or say something to send it up to 615?