Best Thread Live Cable Trading

[smbtnt]

sell orders triggered at 8540 sl: 20 pips

Scaled out at 480 , eventual target 8340.

UK data at 11 and the big momma at 13.30, its not going to be plain sailing for sure. I feel there are more chances of 8600 level being nudged before the $ strength kicks in.

Does anyone trade using purely price action in conjunction with S/R as opposed to soley S/R?

 

[rav700]

Get Ready for a break out .....

Any one noticed how the break out is due at exactly 1:30 mmmmm
The lines dont lie.......

 

[jezza888]

So....

New highs hit in last night... everything dollar related still looks bad and NFP figures and estimated lower.....

Current just below old highs and 50 odd from last nights....

Wht will NFP do...............?

Answers on a postcard to T2W 'live cable trading thread'!

Biased long personally and I will be waiting for the market to show but I think long is the way...............

any thoughts?


EDIT: Cheers Rav, beat me to it........... looking up then?

 

[hagadol]

Perhaps a long from late 70's with stop late 50's, depending on how it sets up if it gets to this area ?

Suspect the market will range around until the jobs data.

1.8475 Session Low
1.8471 Pivot =======================
1.8470 MNI Bids
1.8460/70 Res Becomes Sup MAJOR
1.8465 Fib Sup 1.8546 / 1.8334

 

[rav700]

So....

New highs hit in last night... everything dollar related still looks bad and NFP figures and estimated lower.....

Current just below old highs and 50 odd from last nights....

Wht will NFP do...............?

Answers on a postcard to T2W 'live cable trading thread'!

Biased long personally and I will be waiting for the market to show but I think long is the way...............

any thoughts?


EDIT: Cheers Rav, beat me to it........... looking up then?

I dont like to trade the 1:30 trade but after the 1st 10mins I generally put my trade in personally I will be going long at 1.8515 with a stop @1.8475....40 point stop cos of volatility
Going to put a short in at 1.460 with a stop of 1.4875 just 15 pips with a limit @1.8404
Let see how the ball rolls am looking at 1.8600 today........

 

[smbtnt]

The significance of 1.8600 as posted above....

 

[marmoset]

smbtnt,

My money would be on 1.86 with three bounces off...

And now I've got a meeting for the next hour Who comes up with meetings at a time like this?

 

[indexgold]

You are a very funny man marmoset.

 

[smbtnt]

Fanatstic liquidity! This one's going to be a mover alright!

 

[jezza888]

might just be my chart but all gaps must be filled and I see a big one!

 

[Farce]

Wow it was a big one..
The question is now, when to short!

 

[smbtnt]

at the top .....

 

[trendie]

NOTE: reposted after corrections. ( and tidy up )

Update:

s .1 8452 lim 8412 closed for +40
s .1 8430 lim 8404 closed for +26
b .1 8355 lim 8398 closed for +43
b .1 8252 lim 8296 closed for +29
s .1 8542 lim 8504 Overnight closed for +38.
end of closed orders:

cancelled orders:
b .1 8375 lim 8404 cancelled as not triggered
b .1 8215 lim 8275 cancelled as not triggered

active:
s .1 8344 lim 8312 open
s .1 8494 lim 8425 open
b .1 8175 lm 8330 safety net long
s .1 8595 lim 8550 NEW open
b .1 8305 lim 8396 big-nbr bounce active
s .1 8475 lim 8410 open
b .1 8540 lim 8595 open ( limit removed )
b .1 8510 lim 8548 open ( limit removed )

01: May-04 resulted in 138 pips won.
02: Overnight action May04/05: 38 pips won. ( running total=176 )
03: some trades re-stated due to reply from marmoset. ( big-nbr bounces )

current status: 4 short, 2 long. net 2 short.
exposure: based on notional value of 8600:
sh; 8344; - 256
sh; 8494; - 106
sh; 8595; - 5
sh; 8475; - 25
ln; 8540; + 60
ln; 8510; + 90
net exposure: -242.

[removed reference to 8595 triggers, as price exceeds 8600. sentence was moot]

 

[Farce]

are we sure its wise to short?... its lookin like its gonna work its way up somemore..

 

[marmoset]

I'm baaaaack (Meeting didn't turn into an interminable blamestorming session, phew)

Well, what do I behold, 1st bounce off of 8600 occurred, rebound off of 8555...

 

[mark twain uk]

Is the clock on this BB an hour behind?

Yes. How come?

 

[jezza888]

I really can't, fundamentally wise, see why we will stop at 8600....

Although the charts, depending on 600, may say different.....

 

[marmoset]

Shorting definitely not wise, it's virtually glued to the big figure, third try may break through.

 

[jezza888]

Shorting definitely not wise, it's virtually glued to the big figure, third try may break through.

Exactly, very little reason to short here........... (famous last words!)...

 

[trendie]

I just remembered, marmosets longs had their limits removed, so my calcs are wrong!

marmoset; do you carry positions over the weekend ?
have you decided any limits for the current longs ?