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psytrader · 03-07-2005, 04:14

Earlier this month I estimated that cable would bounce off of 8000 and extend into the 8500 range. Needleess to say, that estimation has been blown to davy jones locker. Fortunately, I trade the 10 min charts and dont have my pants down for 300 pips.Admittedly, most of the reason for this is that I dont have the stones to sit on top of a -35 pip position with my level of experience. (about 18 months)

Im interested in the hourly charts so that I can eventually swing trade like stocks and not spend as much time at this monitor.

We are now sitting at the support from september of 04. The obvious fundamental change with the BOE and FOMC is part of the story.

What do you think are other factors, if any?

Regards,

Psy

03-07-2005, 04:14	#1
psytrader level 3 Join Date: Jun 2005 Posts: 286 Downloads: 0 Uploads: 0 Rep Power: 4	Is cable in for a trouncing? Earlier this month I estimated that cable would bounce off of 8000 and extend into the 8500 range. Needleess to say, that estimation has been blown to davy jones locker. Fortunately, I trade the 10 min charts and dont have my pants down for 300 pips.Admittedly, most of the reason for this is that I dont have the stones to sit on top of a -35 pip position with my level of experience. (about 18 months) Im interested in the hourly charts so that I can eventually swing trade like stocks and not spend as much time at this monitor. We are now sitting at the support from september of 04. The obvious fundamental change with the BOE and FOMC is part of the story. What do you think are other factors, if any? Regards, Psy