Hey,
What can i expect cable closes above the intraday long,are we to take out our losses?
What can i expect cable closes above the intraday long,are we to take out our losses?
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DislikedIs anyone trading cable this morning,who is with me.Am already short on it,it seems to retrace after breaking the short.Sherm!! it seems you ar avoiding cable this days,any reason behind that?
Bo!! am i right with the short on cable?Ignored
DislikedThis one is countertrend to the general USD strengthening, but I like the candle action on the daily so I took it and I'm planning on holding this for as long as possible - weeks if price goes my way (positive swap) or a lot less if price doesn't cooperate. No set targets really - ideally I'd like 1.0584, but I'll wait for price to tell me when to reverse.
I took the trade based on daily candle at Downtrend Short, with stops above the high of the candle.
I plan on monitoring the trade using the 4 hr support levels that I want to see broken (and a pesky TL testing right now). Once I start seeing them broken, I'll flip to a resistance fib and look for them hold.
On daily, I'll switch the fibs that I show currently in my chart. My retracement fib will be moved to an Uptrend Fib, and then I'll pull a retracement move to follow price on the decline to the uptrend fib levels. Looking for these to hold as resistance (same as pulling the 4 hr resistance fib) and as long as these levels hold, so will I. Essentially, this is like when we scalp back to our inner fib levels on an intraday basis on 60 min.
Best of luck to me.Ignored
DislikedI like the setup Bud....Once In profit I would fallow it with the waves highs...to protect profit as well as to leave room to breath...
AttachmentIgnored
DislikedThis one is countertrend to the general USD strengthening, but I like the candle action on the daily so I took it and I'm planning on holding this for as long as possible - weeks if price goes my way (positive swap) or a lot less if price doesn't cooperate. No set targets really - ideally I'd like 1.0584, but I'll wait for price to tell me when to reverse.
I took the trade based on daily candle at Downtrend Short, with stops above the high of the candle.
I plan on monitoring the trade using the 4 hr support levels that I want to see broken (and a pesky TL testing right now). Once I start seeing them broken, I'll flip to a resistance fib and look for them hold.
On daily, I'll switch the fibs that I show currently in my chart. My retracement fib will be moved to an Uptrend Fib, and then I'll pull a retracement move to follow price on the decline to the uptrend fib levels. Looking for these to hold as resistance (same as pulling the 4 hr resistance fib) and as long as these levels hold, so will I. Essentially, this is like when we scalp back to our inner fib levels on an intraday basis on 60 min.
Best of luck to me.Ignored
DislikedAs I now limit my morning screen time to 4 hours around the Frankfurt and London Opens, I'm staying with the 5 min chart for my trading.
Here there was a higher low in the Asian session (which one were you looking at - I see several) and then price got held under todays DP level (mind sharing the PP indie please). This was broken by the wide range candle just before FO - a clear BUY (was entry the large bull candle closing above DP?).
Price then stalled just above the 800 level after a 50 pip rally and pulled back to the super confluence of the 38% fib, 34 ema and the Todays Open level for another buy (where was the exit, indecision candle?).
Price then stalled at Yesterdays High after a 76 pip rally.....I got nice pips out of both moves (the initial breakout at beginning on FO and the retracement to 34 EMA and 38.2, right?) and easily made my daily target http://www.forexfactory.com/images/icons/icon7.gifIgnored
DislikedNifty trading again ; but couple questions please:
Lastly, did you have a fib set-up before the breakout? The price action is so choppy to me. How does one go about setting up the fibs properly, or is it not used until a breakout and then we follow along price?
If you're too busy trading now, just reply whenever you get a sec (I'm very interested in attempting to trade these breakouts b/c I see them very often on when FO/London opens). Thanks!Ignored
Disliked+10 beats the crap out of -1
I remember when my entire focus was to get 10 pips a dayIgnored
DislikedOnce price penetrates and closes below my 66 and 68.2%
retracements, should I stop trying to play this long? or can i still try and
take advantage of a retrace before it goes lower?Ignored