Magpie Trader
Tuesday, November 08, 2005
08/11/05
Long CAD 1.1916 SL 1.1890
The COT data and charts are showing a heavy upward bias. Only gone in for half my usual as it's a previous day high break. Will look to see confirmation on a time stop before an exit.
Short Cable 1.7375 SL 1.7395, bounce off the pivot range and previous days high
edit: The internet and phone went off last night which was pretty handy, so ended up calling the UK on a mobile to change orders. Telecom have sent an engineer out today so with some luck we'll be back on. Wrestled with changing the CAD SL, but it ended up ok at 1.1875. Put a limit exit at 1.1945 due to the pivot and camarilla - the cam level was an H4 breakout area and price either punches through and keeps going or spikes through, it actually went to the 1.980 area and returned south with a couple of hourly hammers. I didn't want the risk due to the lack of charts, hence the limit exit.
The cable trade was interesting in that there's heavy support around the 1.7350. Closed half the order at 1.7372 and left the rest. Moved the SL out to 1.7405 and put a limit exit at 1.7350. Any winnings were probably halved as I phoned every 15 minutes to see what was happening.
+ 29 CAD
+28 cable (+3 and +25)
The COT data and charts are showing a heavy upward bias. Only gone in for half my usual as it's a previous day high break. Will look to see confirmation on a time stop before an exit.
Short Cable 1.7375 SL 1.7395, bounce off the pivot range and previous days high
edit: The internet and phone went off last night which was pretty handy, so ended up calling the UK on a mobile to change orders. Telecom have sent an engineer out today so with some luck we'll be back on. Wrestled with changing the CAD SL, but it ended up ok at 1.1875. Put a limit exit at 1.1945 due to the pivot and camarilla - the cam level was an H4 breakout area and price either punches through and keeps going or spikes through, it actually went to the 1.980 area and returned south with a couple of hourly hammers. I didn't want the risk due to the lack of charts, hence the limit exit.
The cable trade was interesting in that there's heavy support around the 1.7350. Closed half the order at 1.7372 and left the rest. Moved the SL out to 1.7405 and put a limit exit at 1.7350. Any winnings were probably halved as I phoned every 15 minutes to see what was happening.
+ 29 CAD
+28 cable (+3 and +25)
// posted by Magpie @ 7:21 pm 
