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- wpbsyn replied Jun 1, 2007
Hello Cesar. Yes, very hyper extended. We currently have 12 consecutive record session lows on the weekly chart for the USD/CAD. In reference to candles, we are well past the 8-10 record session pattern. We do have a lower descending Trendline on ...
USDCAD trend reversal?
- wpbsyn replied Jan 19, 2007
Thank you. I saw that just after I sent the post. The price pierced the 61.8% line of the 1.9772 to 1.9711 Fib, formed a shooting star on the 5 min over this 61.8% line which is being confirmed at this time by the following candles closing below ...
Daily Cable Analysis
- wpbsyn replied Jan 19, 2007
Cesarnc, I came on a little later this morning, can you tell me how you established 1.9635 as the low point of your Fib? Your ghost Fibs 50% and the 50% line of the Fib that I am using are only 1 pip apart.
Daily Cable Analysis
- wpbsyn replied Jan 19, 2007
I did not see Monarch's name listed as being logged on but can anyone tell me if he is using the 250 EMA because of personal experience and preference? Just curious. I find it interesting to see which type and period of Moving Averages that ...
Daily Cable Analysis
- wpbsyn replied Jan 19, 2007
Earlier I mentioned the 1.9772 to 1.9711 Fib on the 1 or 5 min charts. The price had retraced to the 23.6% line of that Fib, now the price has made it to and is respecting the 38.2% line of that Fib. The 50.0% line of this Fib at 1.9742 and the ...
Daily Cable Analysis
- wpbsyn replied Jan 19, 2007
I totally agree, Leugimp. That's the importance of using multiple indicators. Just as an attorney builds a case we have to look for evidence to build our case to enter each trade. If we rely on just a couple of indicators it will cost us, but the ...
Daily Cable Analysis
- wpbsyn replied Jan 19, 2007
Fib on the 1 min or 5 min chart from 1.9772 to 1.9711. The price just bounced off of the 23.6% line and is now heading south. Along with many other "pieces of the puzzle" (a number of indicators), I use the depth of the Fib retraces as a "barometer" ...
Daily Cable Analysis
- wpbsyn replied Jan 19, 2007
Good Morning Everyone, Cesarnc, an example of divergence is when you have a momentum indicator such as the MACD (12,26,9 calibration) and it would turn south but the price is still heading north. This is called a divergence, because the indicator is ...
Daily Cable Analysis
- wpbsyn replied Jan 18, 2007
59fender, I'm not sure if you are using the 1.9777 to 1.9635 Fib or not but the 78.6% line of that Fib is 1.9747. The same vicinity as your 9750.
Daily Cable Analysis
- wpbsyn replied Jan 18, 2007
Cesarnc, I can understand your sentiment but I would encourage you to stay with the charts as they are. The only exception would be data errors. Secondly, we have an Inverted Head and Shoulders, visible on the 15 or 30 minute chart. If it is valid, ...
Daily Cable Analysis
- wpbsyn replied Jan 18, 2007
[quote=cesarnc;191018]Thoughts wbpsyn? Cesarnc, The 61.8% line of the 1.9777 to 1.9635 Fib is 1.9723. On the last post I forgot to mention, but just as a reminder from yesterday that the 78.6% line of the Daily Fib from 1.9846 to 1.9261 is 1.9721. ...
Daily Cable Analysis
- wpbsyn replied Jan 18, 2007
[quote=cesarnc;191018]Thoughts wbpsyn? Hello Cesarnc, Sorry, I have been in and out of the office. Overnight the price ran 30 pips past our last resistance area of 1.9747 to 1.9749, but could not sustain that area. I'm sure there was a real conflux ...
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
59fender, 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.
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
One pip above the 61.8% of the 1.9643 to 1.9722 Fib on the 15 min chart
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
Now 38.2% retrace on the 9643 to 9722 Fib on the 15 min chart
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
For scalpers and people who may wonder if you can use Fibs on the 1 min to make money, notice the Fib from 1.9722 to 1.9704 and the 61.8% retrace.
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
I would agree that the double bottoms on the weekly need to be watched. Before that though we did have a Harami cross on the 30 min (see p.83 of Japanese Candlestick Charting Techniques) and also a hanging man on the 1 hour which is being confirmed. ...
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
Just some facts: Resistance points above the current price -1.9721 (the 78.6% line of the 1.9846 to 1.9261 Fib) -1.9747 to 1.9749 horizontal (highs from 12-19 and 1-2) We have had 11 record high candles on the 1 hour chart. 8-10 record high or lows ...
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
Cesarnc, I have been using the 1.8834 to 1.9846 Fib that you mentioned but my retrace values are different than what you have listed. Here are the values that I am showing: 23.6% = 1.9607 38.2% = 1.9459 50.0% = 1.9340 61.8% = 1.9221 78.6% = 1.9051 ...
Daily Cable Analysis
- wpbsyn replied Jan 17, 2007
I magnified the upper descending trendline from 1.9846 to 1.9749 to yesterdays high and beyond on the 4 hour chart. The value that I am seeing for that Trendline is 1.9700. Possibly a dark cloud cover 2 candle pattern forming on the 30 min?
Daily Cable Analysis