Set & Forget on Cable help here

I didn't like the way it was rejected at 9478..... And looks like Euro is trying to breakout up.....

I got myself in short @ 9478..... But I'm still clueless here...

Maybe people are waiting for the news. I'm not in yet. If things do not change after London opens, I will probably stay on the side until the UK news.

Stopped out 9510... damn....

Now I'm off untill London decides... May be after news....

I missed that EUR had positive news.... That's probably causing this upward trend for now.

Although CAble seems to have breached 9505, EUR is fighting the 1.3000...

i got in at the break north above the Asian box just upside of 9505... time will tell.

I am in long at 9503. Stop 9479. I would have been in that short also if I had not gone for coffee. Sometimes things just work out!!

It's being a hard morning already...

According to what I thought, the SAR shoud be at Frankfurt open -30, that would be 9519

This turning around at this range of pips is not comon on the data I have. Breaking back below 9500 and I'm out for coffee until the news.

Had my loss already. Now I'm for profit here...

I still like to see further down move. This spike and hold at 9522 for stop hunting is not comon, but yet may happen. And it is surely the worst case scenario in this strategy, because it can trigger your SAR and head back...

MFer just touched Frankfurt open!

Doze Darned Uerumans De Givin Us Un Heada Fake


===am post script... it was an SAR morning for me. Out of the long and into the short after it broke below 80 and rode it down, down : )

So far looks the same of what happened on Feb 07 (at 9722).

If news fails to set the direction, we may be seeing a ranging market today, which is the second worst cast scenario for this strategy, because the daily range puts the Frankfurt open in the middle, making you look like a trapped mouse.

On the other hand, we have two very nice levels to watch: 9478 for short and 9520 for long.

Yesterday the reason I think we see short from Frankfurt open til London is because there are no news coming for the GBP, but today the upcoming news for the GBP will set if we're to continue short or long.

Price is forming a slightly upward channel, failing at 9723 already. This is usually fuel being built to breakout to the opposite direction (down, in this case).

After failing at 9460s for two days, market will need strengh to push below 9460.

GBP and USD news for today may be the key.

The question is whether or not the maket will resume down or reverse up still today. I'm not putting too much confidence on the capability of the news to boost Cable. USD-positive news have been unable to do it, too...

Reaching US open ranging within this 46 pips from FRA open and I call it a day

Missed this move...

I'm out for the day....

I don't know it this is a good news...

But the strategy would have worked out fine here... Even though the SAR would be triggered at Frankfurt open -30, a SAR sell at Frankfurt open would have B/E-ed the -60 pips and profited another 40.

I was the dumbass not to trade it accordingly....

Strategy still on....

Strategy worked out.

Yesterday and today the market show uncertanties and stop hunting by Frankfurt / London open. But this strategy allowed profit whatever the direction one have choosen at Frankfurt open price. Of course, bigger profit with right direction. But being able to profit when you picked the wrong direction, has to be priceless here.

The remaining danger here seems to be the ranging market, which is tough to be identified as such before you notice that London is closed. A possible action to fade this danger is keeping the trade for the next day. I'm going to wok on this contingency possibility.

Unfortunately I wasn't able to profit on this strategy, for being stuck in a unconfortable financial shortness. I'll change this by start trading smaller lots in the upcoming days / weeks.

And will keep posting updates here. As of today:

1)- Long side
FRA open @ 9475
SAR 9435
TP 9555 - reached by 10:40 GMT
Profit 80 pips in 3:40 h of trading.

2)- Short side
Fra open @ 9475
TP 9555
SAR 9505 - triggered / London didn't returned to FRA open price
New TP 9555 - reached by 10:40 GMT
Profit 50 pips in 3:40h of trading.

We could have traded it blindfold.

This week so far:

Picking the right direction = 240 pips
Picking the wrong direction = 150 pips

Mixed right/wrong calls would have profited in the between.