short cable from 5100 figure with ote inside the Asian range…
would like to know if this is a ‘pause’ down to 50-00, or incoming stop run on prior day low
news in 10 i’ll tighten stop and stay
edit: trade survived the spike (stop above AR), news are good, so i close at plus a few pips. price is not eager to show strength so what i can do is wait for a push on upside, pullback, long entry. And while it moves up, trail up a sell stop in case of sudden fall. thats it, atm 5100
Lol I suck… I went long on euro at 1.2926, had two positions opened, one for 20 pip TP and other for no TP. I was a little concerned at the economic sentiment news coming up so I figured ok I might close the 20 pip TP @ 12 pips instead and leave the rest open and move the SL to BE…
Guess which one I ended up closing early? The one with no TP… then the other one hit the 20 pip TP.
At least i’m up, so there we go… 20 pips for the day, albeit in a retarded way
Update: One thing i’ve learnt over the last few weeks (and this is purely my humble opinion) is that trade management is #1 priority. You want to be able to place your trades in such a way where even if you’re wrong, you come out on top. Taking partial profits at first chance, tightening SLs and letting the rest run - Worry free.
Short EURUSD 1.2956, half closed at 1.2935, holding remainder at BE (+spread) until NYO/LC/beyond. Aware it might get stopped out but the flow is down. Will cover it if there’s no real movement in NYO.
Update 1 10:56 GMT: TP levels configured. Moved to BE (no spread). Figure if they take it out, good on them.
Update 2 12:04 GMT: Analysing trade to see if it’s worthy of running for a few days, instead of hours. General impression is +ve.
As expected, messy PA this week so far on the Fiber
I took the same trade as you Fuzzbuggy:
Reasons for the trade:
SMT divergence on the 15M TF, the USDX failed to make a higher high when the Fiber made a lower low, indicating potential USDX weakness (smart money tipping their hand before the news?).
Stops below that 1.2920 level. Important support level + institutional level.
I closed the majority of the trade when we spiked to 1.2960, small amount left on (20%), stops still below that 1.2920 level. If we make it to the AR high, I’ll trail stops to BE and take another 10% and see how far we move up (I’d like to see 1.2980+)…
I’m short from 1.5124, Early NYO OTE formed from bounce off resistance at 1.5134, also above Asian range low and daily central pivot, looking for that super clean stop level at 1.5070.
I’m above the highs of the day, just have a feeling the housing numbers could sweep above and then plunge.
US 10 year starting to fall so we’ll wait and see.
the x for support turning resistance, 5100 was good level at fig, ote and trendline, 5124 is even better, what we may see is pullback to test the blue line on the other side, or continued up from pink line, or even breaking both. i have some short bias in this because of nested ote/h1, i will be watching around 5150
i am too looking at this short trade in fiber, and wonder what could happen for price to mess everyone up then run with the losses… could be a short from above AR, 2800-3000 area. but short is the expected side with Cyprus and all that a problem, so a long 2920 could be the other scenario
I think you hit this one on the noggin Jonnycab… that 1.2998 - 1.30025 level to me is very interesting. It would be a lovely place to put your stops if you went short and is historically a very strong S/R level dating back as far as the eye can see!!
I just hope it doesn’t happen today because I need to sleep now haha.
You might get it, that 1.5112 Asian range high is proving a tough nut to crack today since we came back above it.
This whole weeks price action including Friday is building to something, almost looks like the top of a market maker on the 1hr and 4hr taken from Wednesday last week.
We had a big increase in OI on the cable last week and I’d like to see a push to 1.4980 the on to some resistance I have noted at 1.4914 but they are seriously protecting the 1.5070 level.
this is 2-hour chart, can clearly see the line in the sand, i have it at 5080… cable has been extremely oversold and long trades will travel longer and faster than short trades. there’s always however the issue of timing
edit: i’ve been meaning to ask, what happens when the image is clicked. 'm not sure how well i do with this image site, do you see a betteer image or does it take the viewer to a login screen? thank you
p.s. that h1-ote short bias is fading away
when all else fails, S/R does the job, these lines keep producing the work day in and out
prior cable closed at -2.
new cable entry at 5080, up 30 points tp on half, b/e the second half and tp 5145,
2920 long in fiber stopped out at b/e, what a day.
'm done here. whoever still trading, you guys good luck