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  • #11,181
  • Apr 29, 2009 8:38am Apr 29, 2009 8:38am
Quoting spekitox
I bought some cable at the green line - reason: has taken out the top at the red line (close above), then came back and hopefully the former resistance (green) will be support

we'll see.
I have that level on my chart as well, but didnt take the trade just because that level has been tested a few hours ago and had a decent run up... If you take it, I would take profits as they come... dunno if it will sustain a big move.

Thoughts?
  • #11,182
  • Apr 29, 2009 8:50am Apr 29, 2009 8:50am
Many other threads seem to be dying out slowly as contributions and traffic fall. Thread momentum is a bit like market momentum the actions of one individual leads to many more following.

So don't be afraid to post your thoughts and s/r levels in here, no one will flame you for being wrong, there is no right or wrong remember? Only probabilities.

Asking the market for an opinion could cost you your s/l, asking in here for an opinion is free!
  • #11,183
  • Apr 29, 2009 8:54am Apr 29, 2009 8:54am
I was also influenced by the daily chart - long lower shadows, and I believe cable is in uptrend, couple of days ago has taken out former highs on the daily too. Also you could draw a diagonal trendline on the daily

Anyways we'll se how it works out. You don't always have to be right to be profitable
forget about tomorrow, just steal away into the night
  • #11,184
  • Apr 29, 2009 9:42am Apr 29, 2009 9:42am
Quoting RedCabbage
USDCAD At an interesting place before London open.

These longer TF levels may take a bigger stop and little longer to roll over but the pips are worth it.
Attached Image (click to enlarge)
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  • #11,185
  • Apr 29, 2009 9:46am Apr 29, 2009 9:46am
With news coming up, are we still watching for EUR/USD 1.33ish levels?

1.4775 was nice today on the G/U but I was frustrated to see the E/U not make it up to 1.33 to decline in-sync with the G/U. Now news coming...ugh
  • #11,186
  • Apr 29, 2009 9:50am Apr 29, 2009 9:50am
Quoting sam0182
With news coming up, are we still watching for EUR/USD 1.33ish levels?

1.4775 was nice today on the G/U but I was frustrated to see the E/U not make it up to 1.33 to decline in-sync with the G/U. Now news coming...ugh
Are you talking about the FED IR decision?
  • #11,187
  • Apr 29, 2009 9:51am Apr 29, 2009 9:51am
Quoting RedCabbage
Are you talking about the FED IR decision?
Yep, that was my main concern...3.5 hours away?
  • #11,188
  • Apr 29, 2009 9:54am Apr 29, 2009 9:54am
Quoting sam0182
Yep, that was my main concern...3.5 hours away?
Yes it is likely to slow down from now on.

There is an option expiry on EURCHF in 5mins 150.50, it could have some impact on the hourly close.
  • #11,189
  • Apr 29, 2009 10:12am Apr 29, 2009 10:12am
Mushwedu, howzit? Pindayi!
This is the best thread on FF.

[quote=Mushwedu;2702019]
Quote


Red Cabbage,

Great work of yours. I think by using this simple method, a lot of "iffy" trades can be eliminated. I've now had a chance to apply your "conditions" and can truly vouch for their effectiveness. I wonder if you realise how valuable this tool is! Maybe a patent should be applied for here!

An example is yesterday's trade on Eur. On the way down from 1.3300, there have been a number of levels we could have used for longs, but applying your conditions, it became clear to me that the 1.2989 was the highest probability...
Boxing clever since 76.
  • #11,190
  • Apr 29, 2009 12:38pm Apr 29, 2009 12:38pm
Quoting RedCabbage
Yes it is likely to slow down from now on.

There is an option expiry on EURCHF in 5mins 150.50, it could have some impact on the hourly close.
Where can I find that information? I just cant seem to find it.

  • #11,191
  • Apr 29, 2009 6:05pm Apr 29, 2009 6:05pm
Quoting Concept
Where can I find that information? I just cant seem to find it.

Bloomberg Currencies, FXCM's IFR feed, your brokers news feed if its good. The large ones on the majors are most important.
  • #11,192
  • Apr 29, 2009 6:26pm Apr 29, 2009 6:26pm
I'm liking this long on AUDUSD whenever it comes down to this area, .7000 i'll be watching like a hawk.
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  • #11,193
  • Apr 29, 2009 7:02pm Apr 29, 2009 7:02pm
Hi,

looking at the usd/cad for a possible breakout. Orders are in.
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  • #11,194
  • Apr 30, 2009 2:48am Apr 30, 2009 2:48am
Quoting Siam
Hi,

looking at the usd/cad for a possible breakout. Orders are in.
good call
  • #11,195
  • Edited 5:24am Apr 30, 2009 3:18am | Edited 5:24am
Nice clean 4hr GMT close. However there are probably a lot of sell orders around 150 that need collecting.

Let's see how this one works out.

Update: Now +63 and looking out for support at 14854 for 2nd TP

2nd Update: Last TP is 14814-14800

Final Update: Took some off at 14900, 14860 then left a 1/3 on at +40 but decided to close it for +84 @ 14856 as it was clear my 3rd TP was not going to be reached. So 204 pips from one trade using 3 small lots - turned out nice again!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd300409.jpg Size: 157 KB
  • #11,196
  • Apr 30, 2009 3:28am Apr 30, 2009 3:28am
[/quote]
Quoting copi88
Mushwedu, howzit? Pindayi!

This is the best thread on FF.
Mangwanani Copi88 (at least I think that is the right word for good morning!)

Agreed on the thread, a bit scared today due to short week, end of month etc. Just watching...

Happy trading.
  • #11,197
  • Apr 30, 2009 5:39am Apr 30, 2009 5:39am
does any bary could expleiment where to place stop lost and take profit please ,

Mangwanani Copi88 (at least I think that is the right word for good morning!)

Agreed on the thread, a bit scared today due to short week, end of month etc. Just watching...

Happy trading.[/quote]
  • #11,198
  • Edited 9:46am Apr 30, 2009 8:22am | Edited 9:46am
Lookin to buy off of 1.3200-3210, got a 61.8 fib from the 4hr, 00's and Resistance becomes support.

Not a super decent level... but I got out with 30 pips.
  • #11,199
  • Apr 30, 2009 11:29am Apr 30, 2009 11:29am
Quoting Concept
Lookin to buy off of 1.3200-3210, got a 61.8 fib from the 4hr, 00's and Resistance becomes support.

Not a super decent level... but I got out with 30 pips.
It made sense to me it just wasn't a runaway trade like cable. +30pips is better than -30 pips!
Attached Image (click to enlarge)
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  • #11,200
  • Apr 30, 2009 1:50pm Apr 30, 2009 1:50pm
Quoting RedCabbage
Nice clean 4hr GMT close. However there are probably a lot of sell orders around 150 that need collecting.

Let's see how this one works out.

Update: Now +63 and looking out for support at 14854 for 2nd TP

2nd Update: Last TP is 14814-14800

Final Update: Took some off at 14900, 14860 then left a 1/3 on at +40 but decided to close it for +84 @ 14856 as it was clear my 3rd TP was not going to be reached. So 204 pips from one trade using 3 small lots - turned out nice again!
Fantastic trade!
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