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Daily Cable Analysis

  • #161
  • Jan 5, 2007 1:02am Jan 5, 2007 1:02am
Right now itis hitting the 38 fib retracement of this move down which is also the low of that wave . If it breaks 393-395 it may move up to 440 before the london open. Monarch would you say that this is wave C on the hourly chart?
Quoting monarch
The past Two London Opens have seen a sharp decline in prices.

I expected a 3rd drop in price at todays Open.

With the price decrease we just had that went down to 1.9349, I have become hesitant to think that now we will see such a sharp drop off again.


The movement is what I am watching now, Observe the 1 hour between the Frankfurt Open Now and the London Open in 1 Hour.
  • #162
  • Jan 5, 2007 1:02am Jan 5, 2007 1:02am
You mean starting this hour the price will go up and then when London opens at 8GMT that's were the bears took charge?
  • #163
  • Jan 5, 2007 1:04am Jan 5, 2007 1:04am
I entered a Long at 1.9378 - and my Target will be 1.9475.

I entered this under another strategy I posted while ago.

If the London goes up for once, but not lately, I will be positive on this strategy.

Looking for the retracement of 1.9501 to help this baby out.
  • #164
  • Jan 5, 2007 1:06am Jan 5, 2007 1:06am
Quoting dobbie11
Right now itis hitting the 38 fib retracement of this move down which is also the low of that wave . If it breaks 393-395 it may move up to 440 before the london open. Monarch would you say that this is wave C on the hourly chart?
My 1 hour chart has been in a channel, and I have not seen a clear Wave pattern there.

I have seen Wave patterns in the Daily, Weekly, and Monthly.
  • #165
  • Jan 5, 2007 1:06am Jan 5, 2007 1:06am
already open?


Quoting monarch
Switching to 15 minute candle.

Watching Highs and Lows here.
  • #166
  • Jan 5, 2007 1:07am Jan 5, 2007 1:07am
78 is a great entry. for a long. I am think of going long here but I am waiting for a signal. Ok I will chill now and let the market talk.
Quoting monarch
I entered a Long at 1.9378 - and my Target will be 1.9475.

I entered this under another strategy I posted while ago.

If the London goes up for once, but not lately, I will be positive on this strategy.

Looking for the retracement of 1.9501 to help this baby out.



  • #167
  • Jan 5, 2007 1:07am Jan 5, 2007 1:07am
Quoting fxpinoy
You mean starting this hour the price will go up and then when London opens at 8GMT that's were the bears took charge?
2 straight opens the price was holding, then the bears took over.

Tonight, I will watch if the bears come out of the woods.
  • #168
  • Jan 5, 2007 1:10am Jan 5, 2007 1:10am
Quoting dobbie11
78 is a great entry. for a long. I am think of going long here but I am waiting for a signal. Ok I will chill now and let the market talk.
This is the way I would do it if I had an inlination price was going to jump up.

Take a Long here at 1.9393 area, watch the market for the next hour or so.

Once we see the bottom on the Frankfurt 1 hour time, we will see if the London will come back down.

If the London comes down to your entry, take an exit, and go Short with the drop.

That is if the strategy works complete tonight.

If the market continues up, you are in position already.

Just food for thought folks.
  • #169
  • Jan 5, 2007 1:12am Jan 5, 2007 1:12am
inclination (not an inlination - is that a real word)

  • #170
  • Jan 5, 2007 1:14am Jan 5, 2007 1:14am
So far the bottom line should be 1.9385, if the price continues upwards this hour we wait for the London Open and switch to a 5 Minute Candle.

If the 5 Minute Candle drops below our low line and opens a new candle under the line, we go short.

I will try to help better tonight with the entry point.
  • #171
  • Jan 5, 2007 1:16am Jan 5, 2007 1:16am
Line for Short entry should be 1.9384 as of now.
  • #172
  • Jan 5, 2007 1:19am Jan 5, 2007 1:19am
We dropped quickly yesterday and found support a 1.9396 area, and just now we hit this exact point but now it is acting as a resistance.

Note this for break out strength here today.
  • #173
  • Jan 5, 2007 1:23am Jan 5, 2007 1:23am
Low mark is now is 1.9474
  • #174
  • Jan 5, 2007 1:23am Jan 5, 2007 1:23am
1.9374
  • #175
  • Jan 5, 2007 1:33am Jan 5, 2007 1:33am
Does anyone care to share what trades you have open now?

Just wondering what ideas everyone has.
  • #176
  • Jan 5, 2007 1:37am Jan 5, 2007 1:37am
Quoting monarch
Does anyone care to share what trades you have open now?

Just wondering what ideas everyone has.
Long from 1.9398. A very small position.
  • #177
  • Jan 5, 2007 1:37am Jan 5, 2007 1:37am
Im still waiting for the London opening.
  • #178
  • Jan 5, 2007 1:40am Jan 5, 2007 1:40am
Quoting ragingbull94mtx
Long from 1.9398. A very small position.
One Lot for my wierd strategy i concocted a little while ago.

One Lot trying catch some pips to top before London Open.
(Waiting to release if price indicates drop off)
  • #179
  • Jan 5, 2007 1:40am Jan 5, 2007 1:40am
New trader entering long @1.9391
  • #180
  • Jan 5, 2007 1:41am Jan 5, 2007 1:41am
I have 4 positions open!! Long EUR/USD 1.3173 & 1.3091 (I jumped into the market when going for the first one, I a begginer), Long GBP/USD 1.9431 & 1.9393.

I appreciate your comments on these!
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