Cable

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ValB

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• Sep 30, 2005

• #1

i trade FX. primarily cable. nothing fancy. plain old s&r and price development.

currently long from 23 looking at s&r at 34 48 55 68 700 713. why so many? cos when the r turns to s - you buy more and when the highest new r turned to s fails on the downtrun you close out the package. way too simple, but may be ofuse to some.

 

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ValB

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• Sep 30, 2005

• #2

should have metnioned, daily trend is down so u need to be quik with counter daily trades and dont set stops - do it manually or they spike you

 

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ValB

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• Sep 30, 2005

• #3

no downside s&r at 19 00 572.

 

C

ChowClown

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• Sep 30, 2005

• #4

hi ValB,

Thanks for posting your method. What timeframe do you use for your s&r?

 

fxmarkets

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• Sep 30, 2005

• #5

hello mate whats your stop and reverse strat? based on those s/r, cable whipping about holding 68 etc. how long ,much room do you tolerate?

 

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ValB

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• Sep 30, 2005

• #6

ChowClown said:

hi ValB,

Thanks for posting your method. What timeframe do you use for your s&r?

Click to expand...

use 4 charts. daily for daily trend (!) 5min for s&r tick PF and tick pressure for price dev.

 

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ValB

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• Sep 30, 2005

• #7

fxmarkets said:

hello mate whats your stop and reverse strat? based on those s/r, cable whipping about holding 68 etc. how long ,much room do you tolerate?

Click to expand...

al;ways based on price dev. for instance it's averaging a 'whip' of just 4 pips at the mo. one amns whip is anothers tremor. with the relatively rapid rise from 620 i would on balance have felt comfortable with anything up to 15pips e/w. but that's a discretioanry/expereince thing not based on systematics.

 

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ValB

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• Sep 30, 2005

• #8

to answer the other part of yur question fxmaster (how long) - i feel uncomfrtable with the 78 level now. too long. price not developing and i don't have it as a level. so im out.

 

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ValB

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• Oct 2, 2005

• #9

setups for Monday Octopber 3rd

daily still down. so therefore am i. interest at the 7680 level. to thew downside at 7650 & 7560. upsdie at 7700 7765 & 7800.

wait so see what market does. no expectations ahead of action. watch price dev. none of these levels are cast in stone. wait for them to show themselves or not. price must bump along from top or bottom to be tradeable sig. and better still if retest. give yhem wiggle room +/- 5 pips at each level unless action is dramtic obvious.

looking for poss 1.7503 witjh amybe a rest at 7530. course, none of above is another option.

 

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ValB

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• Oct 2, 2005

• #10

ok. what i mean by bump along. say price is heading off down to a support level and goes right thru without looking. fine. stay with it. ante up. say its heading down and slows down when it hits the s level and rolls along it, above it for a while. hold your pos. if it bounce up and away, you busted - exit. if it slip below good, but wait to see if it retest from the underside. maybe one or two attempts at breaking back up thru. thats good. when it gets tired and heads off down again thats when you add to yur pos. if it breaks up thru then you busted. again just exit the sucker.

 

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ValB

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• Oct 3, 2005

• #11

didn't catch the early move down through 7560 as i like to sleep and like to see development.

camarilla at 7568 just broken. will wait for positive retest from below to signal short.

 

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ValB

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• Oct 3, 2005

• #12

i got in on the retest from below 68 and stopped out for -11. keeping stops at +/-5 on current action. still bear. but if it breaks above 600 consider a quick counter-daily long to 650

 

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ValB

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• Oct 3, 2005

• #13

playing games around the 7560. thats ok. i like a range play when they break. looks like a 550/600 at present.

 

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ValB

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• Oct 3, 2005

• #14

my PF chart is telling me its ok to sell but wait until the 550 gets a solid retest or hammers on down by 15+. otherwise sit tight.

 

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ValB

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• Oct 3, 2005

• #15

short. stop 68.

 

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ValB

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• Oct 3, 2005

• #16

moved stop down to 50.

 

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ValB

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• Oct 3, 2005

• #17

anyone playing without a fixed stop needs to keep it at about 15pips in this action. 10pip spikes are gonna be the order of the day before moving to next level.

interested in how it responds to my 30 level (post 9 yesterday).

 

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ValB

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• Oct 3, 2005

• #18

two failed attempts at 21 and 30 looking like a trampoline. this is where price dev comes in. if i get the next 5min bar close above 30 i will exit this pos and wait for more definitive price action.

 

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ValB

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• Oct 3, 2005

• #19

exit for loose change. time for coffee, breakfast and wait for price to give me a hint.

 

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ValB

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• Oct 13, 2005

• #20

7560 a real crunch point. hovering arounf 7540. if it cant nake it thru upside 7560 with a stiff retest from above its only other option is to head down to sub 7500.