cable 2 charts 30 min and 15 ..candle and line..charts.. looks like consolidation for btm..line chart looks H and Sholderie to me..What do you think D Man??????
im back on the long side ,at that 10 level and that candles average 15 level,first position is at b/e 2nd is at 10 level -5 ,will adjust ist position upto 15 .squiring positions .using the lead candles average as my reference and stop,
also short ft100
i always harp on about b/e and stops at open and not for the reason of not loosing but to emphasize the inportance of protecting risk,i still get my losses on positions that turn imidiatly on me so protecting the ones that catcht a little momentum away from my entry is a key factor ,concidering the hit rate and r/r,s .this part not directed at you d ,
whilst she was above 12700 she was good to buy ,normally i would have scalped her but been holding longs and protecting the open price,but my plan was to test a possible retrace upto the converged averages,she was quite against the group.still all shorts are good below that 12700 ,i see no reason why we wont see the lower convered levels now 12577to 12607 band
{quote} thanks danc; my long yesterday was hit back at open the 4 hour 12700,price presently around that zone.the levels have all shifted a little and the buy zone for me was 12710 above ,waiting for london to kick in ,there is a converged area building at 12577 to 12603 on the short side.slightly more biased short leading into london. you have that dax well sorted d,kudos my friend {image}
Ignored
finally got some pips in the bag today from my b/e longs this morning off the 4 hour mid line 12700,held and let a couple of 30 + pips fall off to b/e trades,12700 dead,which as ive mentioned in my posts of the last few days was the key level for longs above and shorts below ,each offering 100 + pips once bias and market support concluded.
this is the converged lower level now and will recalculate .
the market agreement on the short side,already evident before cable broke the 12700 and retested before diving a 100 pips,
if you had been watching the same values on the 2 previous breaks the support and market was biased long ,hence my longs,they stalled at 60 pips my target was a 100 pips above 12703
