Best Thread Live Cable Trading

[zuke]

Zuke,

The price at 11:18 was already 47.

Is your call a real time or 10 min after the fact?

Hi Tzachi..I only ever post Live calls. If you look back at post 4448, I already said that my entry for the short would be 66. I posted after it got filled.

 

[wasp]

one for the old school traditionalist....

www.chartpatterns.com

 

[TheBramble]

Out at 384.

It might just be taking a break.

I definitely am.

 

[TheBramble]

one for the old school traditionalist....

www.chartpatterns.com

Uphios was under the impression the Ascending Triangle was only reliable in an up trend.

(Bearing in mind, nothing is ever totally reliable...).

An ascending Triangle is normally considered Bullish, wherever it occurs.

If it occurs as a pause in an up trend there is a high probability of continuation BUT...

When it occurs in a down trend it can also serve as a reversal pattern and serve as an initiator of an up trend. In the context of today's action on Cable - that was, I felt, the higher probability.

It is important to consider the wider implications of any chart pattern, not just the more commonly accepted ones. It's easier to say 'this only applies this way in this situation', and it does take more work to consider each formation in whatever context it appears. But the benefits are that you get to educate yourself more fully in the process.

I'm really not preaching - there are others that do that so much better than me , but these traditional chartist patterns exist for good reason. They play themselves out time and time again because people (traders) do the same thing time and time again.

I find the more contemporary chart patterns books are the worst in attempting sterilise patterns into narrower and narrower prescriptive modes. If you're lucky enough to get hold of some of the old tomes on the subject, they were a little (a lot actually!) broader in their scope and appreciation.

Can I go back to my hut now?

 

[Uphios]

Glad to see it worked for you. Many a fine tune played on an old fiddle.

 

[TheBramble]

I hope you're referring to the strategy and not the trader!

 

[wasp]

Also worth reading through tradesmart's and any of Chartman's old DOW threads if you are interested in chart patterns.... Alot of analysis done via these methods.

 

[Uphios]

I hope you're referring to the strategy and not the trader!

Of course

 

[Tzachi]

Zuke,

Thanks for the reply. Did not see the old post, sorry.

 

[TheBramble]

Friday - Feb 17th 2006

Always puts me in mind of the motion of a blackboard eraser being wiped over the blackboard in the mornings. What are they rubbing out?

Slightly, though only just, wider range for me to play in today. 7323 to 7392 with a possible predisposition to get 'back home' to the the 7357 level. Who knows?

Normal intra-range and range BO plays.

(I promise not to mention any traditional chart pattern setups today - it upset a few yesterday who thought that was for old b*uggers and had no place in today's dynamic, strutting, coke-sniffing, all-electronic FX markets...now, where's that darn tape machine...?)

 

[TheBramble]

I short-changed you with the reference to the 'back home' level. It's actually always two levels, but today they are very close together. You can make your own inferences from which side of the (very narrow) inner range the price is acting, if it ever does get back there/away from there of course.

The actual inner 'range' is 7355/7360.

Good trading.

 

[trendie]

I think I like this Support / Resistance gubbins.

Res= 1.7410-750.

over the past 6 days, prices seem to congregate around 750 and latterly 710.

there were 2 spikes up, but both rejected vigorously.

so, would 710/740 be a good point to short ?

however, the lower end has shown a rising lows, esp on 14th and 16th, possibly indicating a coiling triangle leading to a break-out. ( which direction - no idea )

the 100sma on hourlies is bearing downwards, and 7390 as dynamic resistance ( good point to short for me, being an MA junkie )

good trading y'all.

 

[coolTrader]

good morning. looking for longs to 1.7425 this morning.. See how it goes. slowly pushing upwards .As always may go anyway.

Happy trading.

 

[dc2000]

Resistance is futile

Short again

 

[dc2000]

Last one to zee bottom iz zee rotten egg

 

[TheBramble]

Whose?

 

[Uphios]

Probably nothing for me today, the DOW has rattled my confidence levels. Don't know why it is I am well money disciplined on FX but the DOW not only mugs me, I find myself adding to loseing positions as well. Must cease the DOW after this one.

 

[TheBramble]

What would happen if it moved to 7335 and then retraced to 7355 before settling in for a downward move of proportion?

I'm looking for something I can give some reasonable probability to before committing.

It's galling to realise there are traders, real FX pros out there, who have made so many scalp style pips already this morning while I'm fannying around waiting for the something I can recognise.

 

[Kaffee]

It's galling to realise there are traders, real FX pros out there, who have made so many scalp style pips already this morning while I'm fannying around waiting for the something I can recognise.

And on other "non range bound" days they will take a pasting while you're coining it.

Horses for courses......... donkeys for derbies.... as the old saying goes.

IMHO downward bias.... but unless it makes a move soon we're in for a range day.

Edit:- Plus it's holiday time in the US, early closing of some markets today isn't it ? So that won't help.

 

[eatontrade]

Reckon all the big players made so much out of the huge moves last few days they've all taken a long weekend