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Daily Cable Analysis

  • #421
  • Jan 5, 2007 11:31am Jan 5, 2007 11:31am
looking at a weekly chart this should drop to 1.9179 if we can stay below1.9434 do we have any news monday?
  • #422
  • Jan 5, 2007 11:34am Jan 5, 2007 11:34am
Looking at this area on the daily I seen something interesting.

The candle on 11-24-06 had a price gap here, maybe I already posted this, I can't remember for sure.

Okay, price closed at 1.9312 and then the next daily candle opened at 1.9462. That is 150 pips lost, remember the market moved before the brokers allowed us in.

Well we have now completely filled this gap, and it may be that were done on the top, or it is filled, and we can continue upwards again.

I will read up on the gap theory this weekend, may help in finding some direction for the market next week.
  • #423
  • Jan 5, 2007 11:35am Jan 5, 2007 11:35am
Quoting dobbie11
kharvvel, I take it you are using the vegas system along with channels and price action. Am I correct in assumming this?
No actually, I use a very simple self-made system involving pivot points and RSI on daily
  • #424
  • Jan 5, 2007 11:37am Jan 5, 2007 11:37am
ok guys its going down and I have to go to work. I still have my longs placed with no stop loss. Yup that how I roll. Good luck everyone Cant wait to read your posts later.
trading on demo is not trading
  • #425
  • Jan 5, 2007 11:38am Jan 5, 2007 11:38am
From looking at your posted charts we can see were in a nice channel downwards. The Long shows a stall now, actually need to be in a Short at the top of channel line.

Thanks for posting, very helpful.
  • #426
  • Jan 5, 2007 11:39am Jan 5, 2007 11:39am
Quoting enzo2325
ok guys its going down and I have to go to work. I still have my longs placed with no stop loss. Yup that how I roll. Good luck everyone Cant wait to read your posts later.
I have to go in about 2 hours, today is payroll for the boys, and I am the money man.
  • #427
  • Jan 5, 2007 11:41am Jan 5, 2007 11:41am
cool as long as it works for u thats all that counts. So how long do your trades last 2 to 3 weeks? be cool when things are slow to share some of your knowledge with everyone thats why Monarch made this thread. Everyone to help everyone.
Quoting kharvell
No actually, I use a very simple self-made system involving pivot points and RSI on daily
  • #428
  • Jan 5, 2007 11:43am Jan 5, 2007 11:43am
Quoting monarch
Looking at this area on the daily I seen something interesting.

The candle on 11-24-06 had a price gap here, maybe I already posted this, I can't remember for sure.

Okay, price closed at 1.9312 and then the next daily candle opened at 1.9462. That is 150 pips lost, remember the market moved before the brokers allowed us in.

Well we have now completely filled this gap, and it may be that were done on the top, or it is filled, and we can continue upwards again.

I will read up on the gap theory this weekend, may help in finding some direction for the market next week.
monarch have enjoyed your tread and have already learned a great deal from you on entry points around s/r , however i have a question about the time of day you use to determine your daily pivot points. and do you use friday afternoon to determine the weekly pivots
  • #429
  • Jan 5, 2007 11:43am Jan 5, 2007 11:43am
Quoting dobbie11
cool as long as it works for u thats all that counts. So how long do your trades last 2 to 3 weeks? be cool when things are slow to share some of your knowledge with everyone thats why Monarch made this thread. Everyone to help everyone.


All is welcome (GBP Info Only)
  • #430
  • Jan 5, 2007 11:43am Jan 5, 2007 11:43am
30 min and less charts are recovering fast... 1h showing some breath...

Can the market yet move on this FED President speaking ?

... it reminds me the Rolling Stones... "I can't get no satisfaction"....
  • #431
  • Jan 5, 2007 11:47am Jan 5, 2007 11:47am
it's actually just newly made this week.. I have backtested on several currency pairs and here are my results:

GBP/USD 1903 PIPS
USD/CHF 1061 PIPS
AUD/JPY 692 PIPS
USD/JPY 891 PIPS

(6 months)

As for forward testing, as of Jan 2nd:

GBP/USD 337 PIPS
USD/CHF 218 PIPS
AUD/JPY 164 PIPS
USD/JPY -20 PIPS

I realize a lot of these pairs are correlated, but my system doesn't really mind that..

I'm going to wait a month or so, then create a thread in the Trading Systems forum depending on forward results..

Essentially, it involves buying or selling at pivot points when RSI is giving good/bad signs.
  • #432
  • Jan 5, 2007 11:48am Jan 5, 2007 11:48am
they both broke above the 23% fib, and above the channel for a bit before coming back into it

now the gbp actually hit its 38% fib and thats when it bounced down

Does know one think that this may retrace to 50% fib at least?

im long euro 3003 sl 2970 just in case that 80 comes into play again
Ghost Swoopen in for my pips while no one is lookin !!
  • #433
  • Jan 5, 2007 11:49am Jan 5, 2007 11:49am
Quoting gnspdr33
monarch have enjoyed your tread and have already learned a great deal from you on entry points around s/r , however i have a question about the time of day you use to determine your daily pivot points. and do you use friday afternoon to determine the weekly pivots
I place most of my pivots on where the price stalls and turns, also I use Fibo's, Channels (like Ghostpipper posted) and I use the standard Chart provided pivots as well.

The price is what I am watching the most, then I break down each and every move the currency does, sub-divide and calculate pivot projections.

I study all time frames the same way, no matter, I see every time frame.

Doing this allows me room to trade on a 15 minute if need be, like right now I am using a 1 minute, 5 minute 15 minute and 1 hour for my exit on a long positions I have.

Study, practice, make scribbles all over you charts, and keep notes with key numbers written down.

I only trade GBP, so most of the numbers are usually in my head, and I know where we have been for the past 6 weeks, or since the big bull run.

I will be quiet now.

Hope it helps a little.
  • #434
  • Jan 5, 2007 11:52am Jan 5, 2007 11:52am
Quoting cesarnc
30 min and less charts are recovering fast... 1h showing some breath...

Can the market yet move on this FED President speaking ?

... it reminds me the Rolling Stones... "I can't get no satisfaction"....
Well I have not heard much come from the mouth of the Fed man recently, maybe he can enlighten us for the upcoming year. I don't think it will happen this soon in the new year.
  • #435
  • Jan 5, 2007 11:52am Jan 5, 2007 11:52am
That is very impressive you let these run for a month at a time? The longest I go is about a week. guess I get to nevrous. I be very interested in your thread on hearing about this. You should start one anyway then get imput from other traders, which may help u out in the long run.
Quoting kharvell
it's actually just newly made this week.. I have backtested on several currency pairs and here are my results:

GBP/USD 1903 PIPS
USD/CHF 1061 PIPS
AUD/USD 692 PIPS
USD/JPY 891 PIPS

(6 months)

As for forward testing, as of Jan 2nd:

GBP/USD 337 PIPS
USD/CHF 218 PIPS
AUD/USD 164 PIPS
USD/JPY -20 PIPS

I realize a lot of these pairs are correlated, but my system doesn't really mind that..

I'm going to wait a month or so, then create a thread in the Trading Systems forum depending on forward results..

Essentially, it involves buying or selling at pivot points when RSI is giving good/bad signs.
  • #436
  • Jan 5, 2007 11:53am Jan 5, 2007 11:53am
bernanke , what u would say ? can u tell me if u are reading this thread maybe ? hahhahha .............

oh i am so boring , waiting the price , looking monitor.........
with my bad posisition now.......

so i just can write this ......

bernanke please show up here and tell me something.........
I Deeply Love My Virtual Life In Virtual World , RLC
  • #437
  • Jan 5, 2007 11:55am Jan 5, 2007 11:55am
Quoting monarch
Well I have not heard much come from the mouth of the Fed man recently, maybe he can enlighten us for the upcoming year. I don't think it will happen this soon in the new year.
if he talks about a slowing economy then we could get more retracement
Ghost Swoopen in for my pips while no one is lookin !!
  • #438
  • Jan 5, 2007 11:55am Jan 5, 2007 11:55am
well all he needs to do is sound like they will not cut rates for the first 1/4. Another thing if u go back and look at last year and the year before the dollar gained strength the first 2 weeks of Jan.
Quoting monarch
Well I have not heard much come from the mouth of the Fed man recently, maybe he can enlighten us for the upcoming year. I don't think it will happen this soon in the new year.
  • #439
  • Jan 5, 2007 11:58am Jan 5, 2007 11:58am
Quoting dobbie11
That is very impressive you let these run for a month at a time? The longest I go is about a week. guess I get to nevrous. I be very interested in your thread on hearing about this. You should start one anyway then get imput from other traders, which may help u out in the long run.
Starting one now, just for you dobbie
  • #440
  • Jan 5, 2007 12:00pm Jan 5, 2007 12:00pm
Quoting kharvell
it's actually just newly made this week.. I have backtested on several currency pairs and here are my results:

GBP/USD 1903 PIPS
USD/CHF 1061 PIPS
AUD/JPY 692 PIPS
USD/JPY 891 PIPS

(6 months)

As for forward testing, as of Jan 2nd:

GBP/USD 337 PIPS
USD/CHF 218 PIPS
AUD/JPY 164 PIPS
USD/JPY -20 PIPS

I realize a lot of these pairs are correlated, but my system doesn't really mind that..

I'm going to wait a month or so, then create a thread in the Trading Systems forum depending on forward results..

Essentially, it involves buying or selling at pivot points when RSI is giving good/bad signs.
You say you backtested and frontested, did you just run the chart numbers and get the results, or did you frontest with actually trading this system with a real account, if so how is your average win/loss ratio?
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