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Daily Cable Analysis

  • #121
  • Jan 4, 2007 7:39pm Jan 4, 2007 7:39pm
Quoting iiivb
I wish you success in this new stage of your trading!

Maybe I will be writting again in my thread, but I have to settle down in my new job, maybe after that, I will come and share my trades. For now, I have to make up my mind to just stay aside and wait my times are met again to trade consistently again.

Wish you success Monarch.
Feel free to share you GBP/USD data here when you have time.
  • #122
  • Jan 4, 2007 7:53pm Jan 4, 2007 7:53pm
looks like the yen is sucking the life out of the pound! (look at pound/yen over past three days) yen also appears to be dragging down euro and dollar. any comments?
"i wake up in the morning, and i piss excellence"
  • #123
  • Jan 4, 2007 8:00pm Jan 4, 2007 8:00pm
trader69,


The first, second, and third long yen positions should have been made after the 5pm close today....but the pound seems to have some different views on where it wants to be....I threw in a long pound in the low 70's and hie my limit in low 90's....still watching for people throwing away perfectly good pips....HA HA!!!


mackeymax
He who hesitates is hesitant....which always leads to bad entries.
  • #124
  • Jan 4, 2007 8:04pm Jan 4, 2007 8:04pm
Quoting MACKEYMAX
trader69,


The first, second, and third long yen positions should have been made after the 5pm close today....but the pound seems to have some different views on where it wants to be....I threw in a long pound in the low 70's and hie my limit in low 90's....still watching for people throwing away perfectly good pips....HA HA!!!


mackeymax
went long at 9382, out at 9397. Kaching!
"i wake up in the morning, and i piss excellence"
  • #125
  • Jan 4, 2007 8:05pm Jan 4, 2007 8:05pm
Data Summary:

Daily Top and Bottoms Swing Distances from 12-1-2006 to Present

12-1 High 1.9846
12-11 Low 1.9464
Distance 382

12-11 Low 1.9464
12-13 High 1.9727
Distance 263

12-13 High 1.9727
12-18 Low 1.9432
Distance 295

12-18 Low 1.9432
12-20 High 1.9747
Distance 315

12-20 High 1.9747
12-26 Low 1.9513
Distance 234

12-26 Low 1.9513
1-3-07 High 1.9749
Distance 236

Total distance 6 Swings 1,725
Divided
6 Swings = 287 Average Distance
Maximum Swing 382
Minimum Swing 234
Average Swing 287

---------------------------------------------
Present Movement
1-3 High 1.9749
Low 1.9368 (So Far)
Distance 381

Distance in Present Swing:
Cleared both the Minimum and Average Distances
1 pip above Maximum Distance




  • #126
  • Jan 4, 2007 8:09pm Jan 4, 2007 8:09pm
Quoting monarch
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
the charts posted are too small, are you able to post a bigger chart? tks.
I'm just moving clouds today - tomorrow I'll try mountains.
  • #127
  • Jan 4, 2007 8:13pm Jan 4, 2007 8:13pm
Hang with me, this forum only allows 600X600 which cuts my clarity and size.

I am trying to perfect it some.
  • #128
  • Jan 4, 2007 8:16pm Jan 4, 2007 8:16pm
Hi Monarch,
With the Cable pushing down through the range, do you think this will be the break that will keep it going back to the 1.8800 area? The ADP earlier this week was awful for the USA, so I can't see how the NFP is going to help the dollar.

Brent

"If you continue to think what you always thought,
you will continue to get what you always got."
  • #129
  • Edited Feb 2, 2007 3:49pm Jan 4, 2007 8:21pm | Edited Feb 2, 2007 3:49pm
Trying to make larger.

Here is a Fibo Retracement on the Monthly

Low 1.8515 10-31-06
High 1.9846 12-31-06

Fibo Levels

38.2% - 1.9355
50% - 1.9177
61.8% - 1.9024

Hope this is larger?
  • #130
  • Jan 4, 2007 8:31pm Jan 4, 2007 8:31pm
Quoting Brent57
Hi Monarch,
With the Cable pushing down through the range, do you think this will be the break that will keep it going back to the 1.8800 area? The ADP earlier this week was awful for the USA, so I can't see how the NFP is going to help the dollar.

Brent

"If you continue to think what you always thought,
you will continue to get what you always got."
Well that would be a very big drop here, the Monthly could show us 1.9024 like on the chart just posted.

But to reach 1.8800 would need a major push like say a 200+ pip Benchmark Candle on the 15 Minute NFP Friday.

Looking at a larger time frame on the Monthly I see a 38.2 Fibo at 1.8789 which is probably what you are looking at.

There are some who believe we are going down the rest of the year, but on a Grand Super Cycle Scope I would think we have to complete a little larger Wave 5 top prior to a large drop off.

I could dig up that projected number if you like, but it is in the bottom of my file.
  • #131
  • Jan 4, 2007 8:37pm Jan 4, 2007 8:37pm
Sure if you get time. I'll be back here for the London open.


Brent
  • #132
  • Jan 4, 2007 8:37pm Jan 4, 2007 8:37pm
Quoting enzo2325
Wow it broke the low... Interesting
I think the GBP has worked pretty hard the past 6 weeks or so, and this shows that it is needing a nice breather.

I have one Position Waiting to Enter at 1.9339

Just above the Fibo area that has been expected.
  • #133
  • Jan 4, 2007 8:40pm Jan 4, 2007 8:40pm
Monarch,

You would enter long or short at 1.9339?
trading on demo is not trading
  • #134
  • Jan 4, 2007 8:41pm Jan 4, 2007 8:41pm
Quoting monarch
I think the GBP has worked pretty hard the past 6 weeks or so, and this shows that it is needing a nice breather.

I have one Position Waiting to Enter at 1.9339

Just above the Fibo area that has been expected.
Agreed. I just went long, and will add to it after the report tomorrow.
  • #135
  • Jan 4, 2007 8:43pm Jan 4, 2007 8:43pm
Quoting enzo2325
Monarch,

You would enter long or short at 1.9339?
Long

There should be some price increase as we come up to London open.
  • #136
  • Jan 4, 2007 8:47pm Jan 4, 2007 8:47pm
Hope your sitting down when I tell you this. LOL

Should go up to 2.0801 and maybe 2.1104 area.

Crazy huh?
  • #137
  • Jan 4, 2007 8:57pm Jan 4, 2007 8:57pm
thats your new wave 1 top or wave 3 top assuming nfp pushes up?
Right teaching produces right believing leads to right living. - J.P
  • #138
  • Jan 4, 2007 9:03pm Jan 4, 2007 9:03pm
Wow thats some amazing news right there.


When do you think it might reach that?
trading on demo is not trading
  • #139
  • Jan 4, 2007 9:04pm Jan 4, 2007 9:04pm
i went long @9355.
"i wake up in the morning, and i piss excellence"
  • #140
  • Jan 4, 2007 9:04pm Jan 4, 2007 9:04pm
Quoting monarch
Hope your sitting down when I tell you this. LOL

Should go up to 2.0801 and maybe 2.1104 area.

Crazy huh?
monarch,

Do u have any PF? I really like ur analysis. Love 'em
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