not move so fast? I sent the message out after
the price hit the 38.2% Fib line.
Is it just me or is cable acting random? 48 replies
Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies
CABLE Centurion 16 replies
Cable: Measuring Fibonacci From Where ? 29 replies
Dislikedso far, and with 30 minutes to go before (at least my 4 hour bar) closes, it needs to jump up 50 pips from current price 9682, to suggest break is not rejected.
gIgnored
Disliked59fender, are you referring to the price should
not move so fast? I sent the message out after
the price hit the 38.2% Fib line.Ignored
DislikedNot that I disagree with what you are saying, but attached is a file on pitchforks.
article is good, but the best part is price action at trendlines. have a look, see action, and decide if the trend is broken. starts on page 15.
IMHO, you need a daily close and open above that daily trendline to say it is broken, then again, its only an opinion.
gIgnored
DislikedThanks for that ghitz. The CBOT website is an excellent resource for traders. What pivots would you use to draw a pitchfork on the current cable charts? With the ones I drew the upper line has already been broken.Ignored
Dislikedso far, and with 30 minutes to go before (at least my 4 hour bar) closes, it needs to jump up 50 pips from current price 9682, to suggest break is not rejected.
gIgnored
DislikedMy 1 hour chart says enter a long last night at 96.06 (59er) and exit this morning. Nothing fancyIgnored
DislikedThat's it.... 9460 is the target Cesarnc sees and I think he may be right. Each time cable hit that upper trend line on your chart, notice how it fell like 200 pips. That's the same trendline hit and briefly broken today.Ignored
DislikedU r right. always fell.
MM, I add 11.8 and 81 in my fib is that okey ? and suddenly i realise that 11.8 is on 9726, strong point i think.
btw 11.8 is 50% from 0 to 23.6.
81 is 50% from 61.8 to 100. ( should 80.9)
is that okey to place number like that... , i just love 50%.
oh my target is 9295, long way to go....oh crap again.Ignored
Dislikedbeige book says growth, which means no rate cut, maybe a hike with data today out on inflation. my guess, dollar stronger which means downward movement, but hwere is the first stop??Ignored
Dislikedthe live pitchfork is an uptrend
low 9265, next 9450, next 9315.
draw trendline from 9265 to 9315. that is a trigger line. when that is broken, you have an invalid fork
have to go, will post chart later.
gIgnored
DislikedThanks for that ghitz. The CBOT website is an excellent resource for traders. What pivots would you use to draw a pitchfork on the current cable charts? With the ones I drew the upper line has already been broken.Ignored
DislikedMid-term, over the next several days, I'm sticking with the 38 fib target, price 9460. Everyone now seems to think cable will continue long and it may do so overnight. I see it bouncing off the trendline (breached earlier) and going short, just as it did on Jan 3, 2007 when prices hit 9750 and retreated to 9300 by Jan 5th.Ignored
DislikedLooks clearer on the hourlies. I see your point but the theory is that the median line will be tested 80% of the time - which what we're seeing right now. From here it could go down to the lower line or up to the upper line.Ignored