Thursday, 9 December 2010

Cable

Although I am still finetuning the various accompanying indicator settings a potential short GbpUsd setup is unfolding. Ideally this is how it looks -



  • Moving average has been broken and closed under. Price has not passed the 34 pip barrier from the moving average trigger. 
  • Laguerre breaking down from bullish mode.
  • CCI Histgram crossing down through the 0 line. A little contentious as we really need this candle to close in order for a break of the 0 line... but  lets  see how this works anyways.
  • Trix has turned bearish.
    Trade -   Short 1 Unit at 1.5766     
    Hard Stop 1.5821  - 55 points   
    TP 1 - 1/2 Unit @ 55 points - spread , 
    TP 2 - 1/4 Unit @ 89 points - spread . 
    Stop moves to Break Even (BE) at 55 points.
    Balance 1/4 Unit trailed until a reversal trade is generated .

    Thats pretty much the gist of the whole thing. There is still alot of finetuning  and testing of the various components to be done  and only time shall tell as markets test the method. But lets see how it goes.





















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