Monday 23rd to Friday 27th September 2013

[Khalsa]

Hey Arj,

1686/7 is my support identified. Below that opens up a 167x.x print.

The problem is we are not sure if TREND is UP still or is now DOWN.

This has been a fantastic hit and run market last few days and good intraday bankings possible.

My feeling is we are in TREND DOWN and another leg down is to start imminently.

This support has been tested to many times and is about to break imo

I hope that helps

Plan your trade, trade your plan!

[vrost]

It’s possible that the gap down to 1682/83 could provide support and we go back up?

[Khalsa]

Its hard for me to post just one post here that makes sense in context.

All my thoughts are on the subscriber’s side and need to be read in order to make sense.

I have just let you into the subs side to read todays thread and maybe some back threads to give you an idea of where we are and where it can go.

Get reading before I chuck you back out lol

Plan your trade, trade your plan!

[vrost]

Your the man, and i’m reading.

 

Thanks,

[Salty]

OK in with second tranche short cable at 1.6085 (Average now 1.60685) TP now 1.6040 for both. Stops are in (impersonating Oscar now). Goodnight.

AUD/JPY now back at about my average entry for longs (92.25)

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[gekko]

Lol Salty…. “and tonight Matthew I am going to be…….”

 

Oscar short term bearish…overall very bullish

http://livewithoscar.com/DailyVideo.aspx

Larry Ultra Bearish…

http://www.tigeruniversity.com/mp3/TWS092513.mp3

 

[vrost]

Morning all,

Looks like the same game in the ES 1686/87 support with additional support down to the 1682/83 gap.

Crude oil hlds 102ish then chances are we go back up to 108+

As long as cable can stay below the fed ramp candle then we see lower prices, surly the US is not going to let the dollar collapse.

Rgds

Arj

[Zarif]

GM all

Ecodata to hit our screens in Uk hrs

SPOOS  S1L day – we see how pt 2 seals

 

Also we in EOM Widow dressing ghames

Goood luck to us all

 

rgds

Zarif

 

Small droplets of rain turn into Rivers, Streams and Mighty Oceans

[Salty]

A move to the lower support (1683 ish ES) would tie in nicely with my expected drop in cable – 1.61 seems to be holding so could get it today, but hardly an impulsive reaction to 1.6080/85 so still possibility of further consolidation and another push up.

cable did just about get down to my be overnight and gone through it as I type

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[Salty]

OK. Closed half cablefor +40 (from 1.6085) and adjusted stop to 1.6085 and tp to 16005. Can’t lose – feels good to start the day.

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[Salty]

Now, was that a good move ? Just in time to stop my overnight tp being taken on the full position which would have been equivalent to +57 on one unit (1/8 of my max trade size). Instead I now have +40 in the hand and a trade to manage with possible loss -33 and possible further gain of +47. What do people think?

My view is I would be looking for another trade anyway so I might as well be in the one that I had already seen as good. It fits my current rules (but they can change with experience) and at least I have done something and not “frozen”, and IT IS NEVER WRONG TO TAKE OR LOCK IN A GAIN !

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[Salty]

Thanks zarif. Obviously that raft of UK news at 09:30 BST that triggered the cable moves so it is worth knowing those market events times.

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[Khalsa]

Excellent stuff Salty and I have to agree. Sometimes it is right to treat an add on position as an average and sometimes as a separate position.

All depends on your medium term views. As that is down in your case, then I think taking positions off in profit like that is right.

Thats my take anyway

Plan your trade, trade your plan!

[Salty]

cable no longer overbought on hourlies after that overnight consolidation and the drop in this morning session(at bottom Bollinger band and stochastics not extreme), but a down trend has formed so should only have lower highs unless things change so may not be necessary but reducing sl to 1.6066 just above high before noon. same tp 1.6005 but may close manually if seen near there and getting impatient.

AUD/JPY was topped up below 92.50 and position reduced at 92.70 leaving avge entry at abt 92.35 but some profit taken. Now 1/4 max position size.

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[Salty]

Closed cable short at 1.6012 from 1.6052, as it bounced from just above my tp (now it will almost certainly continue down !) another +40 in the hand and capital protected along the way.

I welcome comment either way on my trades and style or views. That is what would make it worth posting.

Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !

[Author]

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