Daily Cable Analysis | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Is it just me or is cable acting random? 49 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

CABLE Centurion 16 replies

Cable: Measuring Fibonacci From Where ? 29 replies

Attachments: Daily Cable Analysis
Exit Attachments

Daily Cable Analysis

  • #81
  • Jan 4, 2007 2:57am Jan 4, 2007 2:57am
I had 2 positions short one enter at 491 and the other at 451 I just close both at 400. It may go down more but I did not like the price action and looks like their maybe a little retracement. So will wait till after UK new. Thanks Monarch Great call
  • #82
  • Jan 4, 2007 2:59am Jan 4, 2007 2:59am
It is 1 am here in California, I am tired, been up 21 hours everyday this week.

Summary of tonights second strategy:

Entered the A+B+C=D Short at 1.9450 projected range exit

Projected exit was 1.9405 This accounted for spread and even number

Price just hit at 1.9400, could go to 1.9385 then to 1.9333.

I am finished
+25 Pip on 1st Strategy (No Long position 1/2 strategy completed)
+41 Pips on 2nd Strategy (Strategy met complete Projection)

Total + 66 Pips clear in less than 3 hours.

We need to constantly make an average daily, then when we feel comfortable we add mega lots, add that up and ChNg-ChNg

See you in a few hours.
  • #83
  • Jan 4, 2007 3:01am Jan 4, 2007 3:01am
Quoting dobbie11
I had 2 positions short one enter at 491 and the other at 451 I just close both at 400. It may go down more but I did not like the price action and looks like their maybe a little retracement. So will wait till after UK new. Thanks Monarch Great call
Nice pull on the Short.

You made nice entries, I like the one at 1.9491, that was a good call.

glad to see it +142 pips - spread, you did awesome.

See you later.
  • #84
  • Jan 4, 2007 3:01am Jan 4, 2007 3:01am
Yes u need a bit of sleep..... we need your mind fresh
Quoting monarch
It is 1 am here in California, I am tired, been up 21 hours everyday this week.

Summary of tonights second strategy:

Entered the A+B+C=D Short at 1.9450 projected range exit

Projected exit was 1.9405 This accounted for spread and even number

Price just hit at 1.9400, could go to 1.9385 then to 1.9333.

I am finished
+25 Pip on 1st Strategy (No Long position 1/2 strategy completed)
+41 Pips on 2nd Strategy (Strategy met complete Projection)

Total + 66 Pips clear in less than 3 hours.

We need to constantly make an average daily, then when we feel comfortable we add mega lots, add that up and ChNg-ChNg

See you in a few hours.
  • #85
  • Jan 4, 2007 3:06am Jan 4, 2007 3:06am
Quoting dobbie11
Yes u need a bit of sleep..... we need your mind fresh
I will be gone tomorrow until 1pm Eastern Time.

I will try to post some charts as soon as possible, we should be slowing on the bottom here until some news comes out.

Is there news worthy watching?

Thanks for joining us here at "Daily Cable Analysis"

Please post and let us know how you did tonight.

We hope you made a couple of pips, if not, tommorow is a new day.

Good Trading To You All!
  • #86
  • Jan 4, 2007 3:07am Jan 4, 2007 3:07am
I rolled the dice on 491 my 1 min charted had a short entry on the close on the franklin market and did not show enough push for a long. The second entry was 30 pips lower then yesterdays low.
Quoting monarch
Nice pull on the Short.

You made nice entries, I like the one at 1.9491, that was a good call.

glad to see it +142 pips - spread, you did awesome.

See you later.
  • #87
  • Jan 4, 2007 3:11am Jan 4, 2007 3:11am
Quoting monarch
Keep logs on everything. I meant to enter once a new candle opened under the line, sorry if it sounded like a closed candle under line. This will be a learning experience, especially with a demo.

If you can, get rid of the demo soon, it will not help your confidence like a real account will. You will lose money, no doubt, but the demo messes with your head thinking you have all that cash. You will actually have bad trading habits if you stick with it long.

Hope that helps a little, not trying to tell anyone what to do.

We all lost money with a real account, believe me it will discipline your strategies like no other.

See I was typing and my real account just made 40 pips in this time span, add that up with a bunch of Lots added on.
I do have a real account, but it's a managed account. I got into demo because I want to learn to trade myself but don't want to touch my real account yet and just want to leave it with the manager for now until I have the confidence to trade by myself.

But I'll take your advice and get another real account, just a mini for now and I hope the 'tuition' wouldn't be too steep.
  • #88
  • Jan 4, 2007 3:17am Jan 4, 2007 3:17am
Quoting REPApips
I do have a real account, but it's a managed account. I got into demo because I want to learn to trade myself but don't want to touch my real account yet and just want to leave it with the manager for now until I have the confidence to trade by myself.

But I'll take your advice and get another real account, just a mini for now and I hope the 'tuition' wouldn't be too steep.
I didn't mean to push you, please take your needed time until your more comfortable. I hope that when you do use your real account you would be able to be successful. It take a lot of guts to put the real money on the line.

I use to have a hard time with losing a pip, boy, I don't even let it bother me too much any more.

Now when you place big lots on a trade you feel is ripe, that is when the sweat drips like pipjuice.

You will become comfortable, you are showing great signs now.
  • #89
  • Jan 4, 2007 3:28am Jan 4, 2007 3:28am
My projected exit on ABC=D strategy was 1.9375, I exited at 1.9405.

Monthly Chart shows a Fibo Retracement 38.2% at 1.9333/6 area.

This dropoff could hit that tonight.

News may help it rise from there, we will see.

No positions opened, debating putting in a Long while I sleep?
  • #90
  • Jan 4, 2007 3:35am Jan 4, 2007 3:35am
Man didn't this thread just start today, now it has almost 100 posts, I am going to be here all night reading this.

TheCableGuy
TheCableGuy
  • #91
  • Jan 4, 2007 4:01am Jan 4, 2007 4:01am
Yap.dont haste to the real one.forex trade isnt a game.you knew it.there will be a big temptation on entering a market but when you on the market, u doubting your action and usually cost u some bucks and usually u know what? it takes all ur account. so please make your self familiar with the currency u want to trade.eventhough the real lesson always on the real market but at least you got the picture on the demo first.u on the right path since u are here now .good learn here.



Quoting monarch
I didn't mean to push you, please take your needed time until your more comfortable. I hope that when you do use your real account you would be able to be successful. It take a lot of guts to put the real money on the line.

I use to have a hard time with losing a pip, boy, I don't even let it bother me too much any more.

Now when you place big lots on a trade you feel is ripe, that is when the sweat drips like pipjuice.

You will become comfortable, you are showing great signs now.
  • #92
  • Edited Feb 2, 2007 5:49pm Jan 4, 2007 1:42pm | Edited Feb 2, 2007 5:49pm
Analyzing the Movement from London Open time until now.

Two days in a row we have seen a nice drop off in price, and tonight should see the 3rd drop in this Fibo Retracement on the monthly to 1.9333/6 area.

This would set us up for tomorrow's news for either a major trend change down, or a continuation in the upwards trend which I still favor as the direction it will go for some time more in weeks to come.

I will show the Monthly Chart in a little while.

For the time being 1 Hour Chart Fibo and Retracement Summary:

Fibo High was 1.9530 (Before London Open)

Fibo Low was 1.9396 (After London Open)

38.2% Retracement is 1.9450 (Reached already today)
50% Retracement is 1.9465 (Reached already today)
61.8% Retracement is 1.9481 (Not reached - 8 pips below so far)

Chart is posted for example

I will be posting several charts here in the next few hours for London Open today.

I have no positions opened at this time.
  • #93
  • Edited Feb 2, 2007 5:49pm Jan 4, 2007 1:58pm | Edited Feb 2, 2007 5:49pm
Here is the 1 Day Chart Fibo Retracement Summary:

Low started 11-15-2006 at 1.8835

High reached 12-1-06 at 1.9864

Retracement Levels:

38.2% 1.9467 (Reached already)
50% 1.9346 (50 Pips from Reaching - Should be reached at London Open)
61.8% 1.9224 (Not in Reach - News could propel to this point tomorrow)
  • #94
  • Edited Feb 2, 2007 5:49pm Jan 4, 2007 2:05pm | Edited Feb 2, 2007 5:49pm
This Weekly shows the Channel being breached so far, this will help at the close of this week to see if we are going to continue upwards, or head downwards.

I will be looking at 1.9555 (Key Point in my Charts) for this weeks closing candle to help determine the price direction.
  • #95
  • Edited Feb 2, 2007 5:49pm Jan 4, 2007 2:33pm | Edited Feb 2, 2007 5:49pm
This Chart has Two indicators working:

1. The Channel
Price is riding the middle of the top channel.

2. Fibo Levels
Low 10-2006 1.8515
High 12-2006 1.9846

38.2% - 1.9314
50% - 1.9163
61.8% - 1.9020
  • #96
  • Jan 4, 2007 3:05pm Jan 4, 2007 3:05pm
The Price dipped to a Low of 1.9396 just 3 pips above a S1 Monthly Pivot Point.

I am still expecting a final drop in price for a 3rd move down before the News hits tommorow during the NFP.

I have a projected target for a Low at Pivot 1.9367, but not until after London Opens.

I actually had 3 Projected price ranges for the Low, the first two have already been cleared, I will be watching for support later in the day for my third projected range.

The Price should actually dip to 1.9333 to hit the Fibo retracement level, before settling back up around 1.9367 area for news time Friday morning EST)

I would expect a small rise in price with little ups and downs along the way up to the London Open.

I have no positions opened, will wait for my indication prior to Entry.

This is just a summary of my expectations, not a signal or recommendation.
  • #97
  • Jan 4, 2007 3:37pm Jan 4, 2007 3:37pm
Quoting monarch
[QUOTE=monarch]I am short still from 1.9480, did not reach my 25 pips yet, close.

I am waiting for the 15 minute candle to close for point calculations, then I will determine my exit point for the day.

We will do it like this

Point A is 1.9521 + Point B that is low of candle 1.9453 = 68 pips

Then we will add Point B to the retracement Candle High Point C that is in progress to get the spread of distance there.

We will add these two number together to get our projected exit range for the days trade.

If Candle hold here, the High from Point C is 1.9472 B+C = 19 pips

19 pips + 68 pips = 87 pips

Point C High 1.9472 - 87 pips = 1.9385 projected range for exit.

Allow for your spread, say 1.9401,this stays above even numbers also.


The Point C High + these two added numbers will give us the distance to project range for exit.

Be back in 10 minutes.
[/quote]



On the ABC=D strategy - Point C was 1.9472, which was a price resistance where I found my projection for the projected exit range.

1.9385 would be point D, but actually it has not reached that point yet.

We did see a test of Point C at 1.9742 (1 pip below this morning).

This shows me that the bottom range of 1.9385 (11 pips away)

My new range low is 1.9367 which should be tested sometime in the next 12 hours.

At the London Open we could see the price actually drop down to the 1.9333 range.

If short is taken at the London Open time (depending on the price at that time) I would short down for a small target goal, then get out until the news tomorrow is finished.

I do have News strategy for tomorrow morning NFP, but usually the Brokers make it hard to enter during high volume times.

We shall see.
  • #98
  • Edited Feb 2, 2007 5:49pm Jan 4, 2007 4:38pm | Edited Feb 2, 2007 5:49pm
Here is just a little quick look at 15 min time frame

Ran the bottom of movement 1.9396 to the top 1.9471 and have a quick look for the next few hours.

Looks like it is barely climbing the lower portion of the bottom channel.

This really does not mean much for now, just shows resistance and channel data.

I am placing it for an example so you could do it on any time frame.
  • #99
  • Jan 4, 2007 5:15pm Jan 4, 2007 5:15pm
Looks like the price just went below the Channel line, do you wait to see if it closes first?

Would you short here?

Thanks.

TheCableGuy
TheCableGuy
  • #100
  • Jan 4, 2007 5:38pm Jan 4, 2007 5:38pm
I posted this chart on the 15 Minute for an example, there is no position to open at this time.

Right now price is in a small channel:

Top 1.9465
Bottom 1.9418
Middle 1.9445

This will help you watch price movement.
4 traders viewing now