Daily Cable Analysis

Normally I would be looking for something here to trade, I did one GU long that went about 1/2 way to my target then I finally closed at 0.
It is important to get out of a trade quickly if your scalping, especially once your in a few pips and it stalls, just get out, and wait for another shot.

I see the GU 15 min candles are now getting higher wicks on each candle, showing us that pressure is slowly changing to the upper move.

We could see another attempt to the low at 1.6364 to give us the GO on a Long entry, for now, I wait.

If price gets down into the 60's try to get as close to the low there and enter, if it goes below, exit, the loss won't be too bad.

Just don't hold too long, takes too many wins to erase a bad loser like that.

Looks like someone likes the longs, that thing just jumped up quick.

Maybe GU to 1.639/96 will come here now

Usually after we get a little bigger moves we can see that either someone exited their short and caused it to go up, if that is the case, and no more shorts jump in, then the bulls will feel more confident to get in for the next leg up.

That is what I want to be in, pullback, and pressure up to get the move to 90 and above here.

We seen the higher lows on the bottom of the candles, now we watch these two wicks on top, that will give us the trade area.

6 minutes for top of hour, let's see if they move this thing, misses 90 area by a couple pips, but want the 96/00 level to hit still.

Price hit the double wick on 5 min just now and at 80 I entered, will target 94 for exit and stop if it moves below that last 15 min candle.

note: i prefer double bottom 15 min, so it may collapse on me, will exit either way

79 double bottom

big top at 86, we break we go

Watching the wicks from 5 min, a 7 pip trap, could go either way lol

So far so good, let see if we can tap high 90's here

Okay, that was good stuff there, the 5 min chart gave the supp and res areas, I longed at 80 which was 84 after spread and exited at 94, we broke those top wicks, and it was all over, as I hoped.

+10 pips profit

Hope this helped someone tonight, I will be back tomorrow during ASIA, any question, just ask.

Cheers

00 area was good target from earlier hit in Asia

Looks like the GU has once again gained upward pressure.

Now if it can just take off and get to 1.7 and give us some great ranging area, the pips will be adding up.

Asia range is tight so far, and the high of Asia is lower then the days low, but only by about 10 pips, we may get that top test and possible spike through.

I am not sure what direction I am wanting to trade tonight, but it will show itself soon enough.

The high for the day is at 1.4095 and were sitting around 5 pips from there, it could spike through to tap the 00 area, I am short with expectation of a bounce down at resistance here.

Out of now where a big move up - LOL, I guess my short is getting wacked now, these moves happen when your up against a sup/res, the question is, how long would you hold it?

I am going to give it a little help now.

Tapped the top at 1.6524 level

Lets get that stall down here.

Was Short GU and missed my target for exit by 2 pips, so holding it still.

EU is leading the battle for now.

1.6512 holding supp, was thinking dip to around 05 coming......

Okay, +10 pips on GU, took short at 1.6522, just 2 pips below today's high

Still in several short EU, trying to help that one LOL

Looks like will get a tap to 1.4129

Being we were at a high of today, and I shorted near the top earlier and got beat, I am 3 positions here now on EU, the goal, to eliminate the loser with several help positions, I will try to get a few pips profit on the 3 total average entries.

I will watch Price as it moves, if I get a 2 positions in green, I will release and enter again on a spike higher to help the original loser from resistance break.

Price came to 1.6506, just one pip from my projected mark here.

Looking for a test of todays high at 1.4095, so I have exits set for 98 level, just above that area.