Cable 2010

[bedsit]

IMO round 485 is important (last high on 12/4)
Trend is up, so wouldn't go for top catching.

 

[Alexbabwa]

im looking at 5min TF and theres a well defined up channel since 8 this morning with 5 or 6 bounces off the support trend line (still hasnt been broken) and 3 or 4 off the resistance trend line untill it just broke above it now. I am silly, knew i should stay away from the counter trend but i did it anyway

 

[bedsit]

I guess tops and bottoms catching may not be a bad thing. Like if there is a nice resistance or support (I would go for horizontal lines - more reliable) and if you can put a tiny stop. The idea would be to cover from one nice trade for lots of bad ones (likely to be more losers than winners when going against trend)

Cable looks as if it's hit the top, but trend is up. I wouldn't go for it, but if I tried I would go for a short with a stop at 493 and if wanted to keep risk to the minimum (less than 10 pips) - I would need entry at higher price than 485

Also it's not my favourite to trade after 17:00

 

[Alexbabwa]

short 95 stop 405

out +10

short 94, stop 404
doubled the stake of the stop so it would effectively reverse my position. Would have broken the recent range and signal a reverse of trend.

position reversed -10 pips. Long at 404
Coming to the end of the power hours and it still hasnt reached my target. Looking for R1 which would be +30 pips
Would have hit target if i hadnt moved the stop to +5. Stopped out sometime after 1am

 

[nunrgguy]

Bl**dy hell tha's some move before the open. Same on Euro. They know something we don't re Bullard?