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Daily Cable Analysis

  • #21
  • Edited Feb 2, 2007 5:49pm Jan 4, 2007 12:08am | Edited Feb 2, 2007 5:49pm
This is a preliminary set up for the 2:00 am to 5:00 am EST strategy.

More info to come in next 30-45 minutes.
  • #22
  • Jan 4, 2007 12:12am Jan 4, 2007 12:12am
Time now 1:15 am EST

Price 1.9509

Frankfurt Open 45 Minutes

(Expecting a dip in price in the 1:45 minute span of time)

London Open 1:45 Minutes

(Expecting a jump in price at London Open)

Will keep you posted upon entries made and paremeters for Stop and Targets.
  • #23
  • Jan 4, 2007 12:19am Jan 4, 2007 12:19am
From this point until 3:00 am EST I will be focusing on the 15 Minute Candle

At the London Open 3:00 am EST I will switch to a 5 Minute Candle.

Many here know this scenario - Low Frankfurt, High and Low London.

It is a fine tuning that we are after, and last night I missed the top by a few pips in the clear, but the Short was hit right on at 1.9698 for the big move today of over 191 pips cleared.

I do not expect this type of movement tonight, especially since we are just completing a big swing.

I expect to make 35 total pips in the next 3 hours of trading.

This is my goal.
  • #24
  • Jan 4, 2007 12:25am Jan 4, 2007 12:25am
Upon the support found at 1.9507 earlier today, I placed several positions:

1. Long at 1.9498
2. Long at 1.0508

With these two positions, I will ride to the top of the London Open, then there I will try to pinpoint the High and dump these two longs.

I will wait for the Short Position Post in a little while once formations are cleared.

I also had 2 other entries waiting today at a little lower area, these Longs did not hit, I will leave these two for a possibility of a drop in the next hour to pick them up to add to the 2 other Longs already opened.

1. Waiting Long 1.9478
2. Waiting Long 1.9458
  • #25
  • Jan 4, 2007 12:27am Jan 4, 2007 12:27am
Should be:

2. 1.9508 (not 1.0508)
  • #26
  • Jan 4, 2007 12:31am Jan 4, 2007 12:31am
Monarch, are you placing long at those targets because the london open shoots up first then back down?
trading on demo is not trading
  • #27
  • Jan 4, 2007 12:33am Jan 4, 2007 12:33am
Nice, this should help us beginner's in analyzing the market easily. Thanks monarch and keep up the good thread!
  • #28
  • Jan 4, 2007 12:39am Jan 4, 2007 12:39am
Quoting enzo2325
Monarch, are you placing long at those targets because the london open shoots up first then back down?
I am now marking the Low acheived at 1.9487 and I will keep this line shot at the lowest the price goes from here until the London Open.

Price is going down a little bit faster than expected, we will evaluate the outcome once Frankfurt opens in 20 minutes.

The two Longs are still active, one Waiting Order is getting closer to triggering.
  • #29
  • Jan 4, 2007 12:42am Jan 4, 2007 12:42am
Quoting fxpinoy
Nice, this should help us beginner's in analyzing the market easily. Thanks monarch and keep up the good thread!
This is the exact type of analysis I am trying to accomplish.

Even though some trades do not work out positive, all trades work out positive in the long run.

I will analyze each and every trade scenario, and keep a log of failures and successess.

This will allow us the needed information for future trade entry and exit pin-point strategies.
  • #30
  • Jan 4, 2007 12:43am Jan 4, 2007 12:43am
Thanks monarch
I have been waiting for you to make this thread
  • #31
  • Jan 4, 2007 12:44am Jan 4, 2007 12:44am
Monarch,

What your doing is great. Not just for Newbies (ME) but for everyone. I thank you for sharing your knowledge. I will definately be watching this thread like a hawk to see exactly what it is I should be doing to become somewhat Successful in the FX.
trading on demo is not trading
  • #32
  • Jan 4, 2007 12:48am Jan 4, 2007 12:48am
I expect a possible dip again once Frankfurt Opens. The last dip was nice, should hold for now at our low here.

If 1.9487 holds true as are low until the London Opens, this will be our Key Entry Level on the Short later.

Normanlly, I would not have taken a position on a Long as of yet, I would have waited until a low hit in the 1 hour span between Frankfurt and London.
  • #33
  • Jan 4, 2007 12:48am Jan 4, 2007 12:48am
Thanks Monarch!
  • #34
  • Jan 4, 2007 12:50am Jan 4, 2007 12:50am
Quoting bshcom
Thanks monarch
I have been waiting for you to make this thread
Glad to have you onboard.

It is nice to see everyone here, please give your input about this strategy that is at hand.

Please keep the unecessary noise down, last night things were pretty crazy on another thread, and I almost missed the boat for that Short entry.

Glad to C everyone!
  • #35
  • Jan 4, 2007 12:54am Jan 4, 2007 12:54am
Great stuff Monarch
Pip Goes The Weasel
  • #36
  • Jan 4, 2007 12:54am Jan 4, 2007 12:54am
After last nights move, most traders are anxiously waiting are have entered for a Short. I would imagine they have a 20-30 pip stop on their Short.

When the Frankfurt opens, it usually dives, creating a vacuum of Short entries, then at the London Open it will jump up and wipe away those Shorts Stops. Then it will take out the Longs Stops out that entered in that jump.

This may not be the situation today, but normally.

Everyday is different, read your charts, and candles.

Linuxtroll could really teach us all about recognizing price direction quickly.
  • #37
  • Jan 4, 2007 12:55am Jan 4, 2007 12:55am
whats the tp1 if any for the longs or will it be realtime?



Quoting monarch
I expect a possible dip again once Frankfurt Opens. The last dip was nice, should hold for now at our low here.

If 1.9487 holds true as are low until the London Opens, this will be our Key Entry Level on the Short later.

Normanlly, I would not have taken a position on a Long as of yet, I would have waited until a low hit in the 1 hour span between Frankfurt and London.
Right teaching produces right believing leads to right living. - J.P
  • #38
  • Jan 4, 2007 12:55am Jan 4, 2007 12:55am
Quoting dobryg
Thanks Monarch!
Good to see you dobryg, well I can't really see you.

also adrazz Welcome.

  • #39
  • Jan 4, 2007 1:00am Jan 4, 2007 1:00am
Quoting barakah
whats the tp1 if any for the longs or will it be realtime?
My goal is a minumum, but minimum can be obtained easier on an average.

I am setting a goal at 10 Pips on the Long once I have entered from the Frankfurt Low that is set, sometimes the price shoots up like a skyrocket, but that is okay, I have my perimeters set for profits on this strategy.

This should be safe, but you may try less pips if need be if your paying 5 pip spread, that would be 15 pips needed to net 10 pips.

You ask Why so little?

Well I have long term trades and then I have some short term trades.

This is one neither, but it is a specific strategy that I use only for this time here. 10 Pips up and 25 Pips on Short. Last night the candles went down so fast, there was no reason to pull the plug, watch formation of candles once your in.

Every Candle talks, some yell.

Pull the plug and be safe with profit, we can get a better one later if need be.
  • #40
  • Jan 4, 2007 1:02am Jan 4, 2007 1:02am
Hi Monarch. I doubt that I can contribute anything of value yet having only started in forex less than 2 months ago. But thank you for creating this thread. I have learned so much from you and the other experts here and hope to continue doing so and hopefully eventually be able to participate more rather than just watch.
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