Daily Cable Analysis | Page 27 | 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

  • #521
  • Jan 6, 2007 4:25pm Jan 6, 2007 4:25pm
Quoting kharvell
I appreciate your input, but please note that in my post I did not say I would follow Monarch's fib#, but simply keep my eye on it. As I have my own strategy preconceived, I have a general idea of when I will exit.

Again I appreciate your concern!
Point taken.
  • #522
  • Jan 6, 2007 5:56pm Jan 6, 2007 5:56pm
Quoting kharvell
I appreciate your input, but please note that in my post I did not say I would follow Monarch's fib#, but simply keep my eye on it. As I have my own strategy preconceived, I have a general idea of when I will exit.

Again I appreciate your concern!
hi there,

if you have your strategy preconceived, you should have no problem when to exit. the only questions for an exit, and these are rather tough questions when you are in are:

1) what is your target
2) what is the minimum profit you want to make
3) do you have stops for 2 thints: lock in profit, minimise loss

just my 2 pips
g
With a break always expect a pullback, otherwise, you're dead meat/
  • #523
  • Jan 6, 2007 6:17pm Jan 6, 2007 6:17pm
Quoting Just1Pip
kharvell, This is not directed at you personally, just what I have obseved some on some threads appear to be looking for.
I would suggest one figure out the answer to these questions for ones self. If you count on other posters to tell you when to get in and to get out I will promise you one thing...You will lose your money!
Not so much that the posters are not right some of the time, but no two people trade exactly the same and the interpretations will be differant.
You need to have an entry strategy and an exit strategy BEFORE you enter any position. If your strategy is what Monarch or anyone else says, you will loose.
Am I right Monarch?
It may be alright for ideas, but not for real positions and real money.
Be a trader not a follower, because what if Monarch is gone, then what you gonna do?
Good trading
I appreciate the input, and I agree with your concept of taking our own strategies, and deciding our own entry's and exits.

I believe most members on the thread have done just that.

As for kharvell asking for advice, it is merely that. He has been a participant in this thread, and in our analysis. If you were to read his posts you would actually see that most of my postitions are usually the opposite of his. I have listened to each post, and I consider each members ideas. I prefer that each post have a technical analysis in reference to their trading direction.

We are all here together trying to accomplish one task, and that is to make the right decision. Even though we may have opposite trades, it is very important to learn from every other member. If what they say does not agree with yours, then stick to your strategy, and just read for reading sake.

I would like to warn everyone on this thread to please make the best decision based upon your own experience and knowledge, because I have been wrong many times before.

Lets use the information posted for one thing, to realize the very structure of the Cable and its intricate details.

Thanks Just1pip for your post.
  • #524
  • Edited Feb 2, 2007 5:49pm Jan 6, 2007 6:51pm | Edited Feb 2, 2007 5:49pm
Quoting kharvell
Thanks Monarch for the detailed charts you've provided! I was wondering when I should leave this very long short position, and will certainly keep my eye on your fib #!
You say very long short position, could you define if your in a short or a long?

I remember your post saying to go short.

I am in a Long now, which I now feel was premature.

I am expecting downwards movement at the beginning of the market open in order to complete the Weekly Fibo retracement

I have made several post with different numbers for the Fibo areas, please remember I am looking at a complex cycle of time frames in relation to the Fibo targets.

Our downward movement shoud take us to 1.9230 - 61.8% retracement on the Weekly.

There could be a further drawdown which I will show in the charts for everyone to see.

I have several other Longs in Waiting Postition which will help to optimize my drawdown losses.

On this Weekly Chart I have 3 circles marked

1. This is where a Doji Candle hit a high of 1.9677 and held the price there before seeing the drop off this week.

2. This is my projection on the weekly for a 61.8% retracement at 1.9230 area which would be 68 pip drop at the market open.

3. This is the projected price range that I have chosen from the monthly high of 1.9696 in November 2006. I will always set my exit below or above a key price target.
  • #525
  • Jan 6, 2007 6:54pm Jan 6, 2007 6:54pm
I think Monarch deserves a few green dots for his tireless efforts. Push the bar and let's make Monarch a 4 star FXer. Plus , I wanted to show off my new nose.
Trade what you see - Not what you think
  • #526
  • Jan 6, 2007 7:03pm Jan 6, 2007 7:03pm
If anyone is interested in a cool pop up display for new messages- you might want to check out www.poppeeper.com. If you're following somebodys strategy it works real well.
Cheers~
Trade what you see - Not what you think
  • #527
  • Jan 6, 2007 7:08pm Jan 6, 2007 7:08pm
Quoting ghitz
hi there,

if you have your strategy preconceived, you should have no problem when to exit. the only questions for an exit, and these are rather tough questions when you are in are:

1) what is your target
2) what is the minimum profit you want to make
3) do you have stops for 2 thints: lock in profit, minimise loss

just my 2 pips
g
Anytime a trader is contemplating an Entry they must consider these 3 facts you stated.

1. Our targets may change during the act of a real trade for several reasons:

a. For a beginner it would be fear of reversal or a reversal, and their excitement if they made a little profit..
a. For a seasoned trader It would have to be that they understand the market and its movements. We have seen from our past experience the shift in a direction that would indicate us get out of this position while we are ahead, or before we go to far into the tank.

2. Our goal for profit should never be projected to get every pip out of a trade position.

a. I am a firm believer that one should project an Entry which would have the least drawdown.

b. For the Exit projection, find your target from the analysis you have studied, and stay back for a clear profit. I say it like this "Take the meat from the middle of a sandwich and leave the bread on the table."

c. Some may disagree with me, but I have held on to great positions for max profits, and before you know it the retracement comes into play and wipe part of this profit out. Why not take the profit, exit, then profit on the retracement also?

3. Finally your stops, some trade without and some with.

a. I usually stay away from a stop if I am on the computer and watching the market. If I leave the computer I will set a safe stop, but never closer than 40 pips. This is my personal preference. Too close of a stop has taken many good positions from me. 2 days ago I entered 2 seperate longs at two separte entry points. The one was premature, and I had a 70 pip drawdown, the other was only 20 pip drawdown. I had not stops, and sure enough they both caught at a support and went on to make me some great profits.

b. Stops are great ideas, unless your broker is one that will drop down and get it from you, and this has happened to all of us. I have had a lot of positions stopped out at the exact point I had my stop. This helped me to not place stops so close.

c. I do have a limit of how much I will let a drawdown take me in relation to a huge loss. I have allowed myself to go 20 pips in a loss, and I also have taken a 250 pip drawdown in a long term trade, which really added a hefty sum into my account when it finally turned my way. You choose, but be smart with your money.
  • #528
  • Jan 6, 2007 7:10pm Jan 6, 2007 7:10pm
Quoting summitfx
I think Monarch deserves a few green dots for his tireless efforts. Push the bar and let's make Monarch a 4 star FXer. Plus , I wanted to show off my new nose.
I Love the nose, your pictures are always welcome here summitfx, they make me smile.

I don't know about 4 stars, but I would love to have 4 pips.

Hope all is well in Baghdad, if your not already on your way to a new distination by now.

We would love to have some of your analysis on the thread when you have time.

Thanks Summit, see you next week making some NosePips.
  • #529
  • Jan 6, 2007 7:33pm Jan 6, 2007 7:33pm
Thanks Monarch- I think you are right on by focusing on 1 trading pair and analyzing it across many times frames and various indicators.. I have been a scalper since 1997-moving from stocks to etfs to futures and now fx. For scalpng purposes, I have adopted the fozzy method and coupled it with accretes ccidot indicator on a 15 minute chart. I'm looking to find some swing trades to compliment my scalping activities. I appreciate your in depth coverage of the highly volatile and huge profit potential of the GU. The following statement from Mark Cuban's blog says it best about you-
"Everyone has got the will to win, its only those with the will to prepare that do win"

Cheers~
Trade what you see - Not what you think
  • #530
  • Edited Feb 2, 2007 5:49pm Jan 6, 2007 7:37pm | Edited Feb 2, 2007 5:49pm
Daily Chart Fibo Retracement Setup

Low 1.8835 on 11-15-2006

High 1.9846 on 12-15-2206

Retracement:

38.2% 1.9463 (Already Reached)
50% 1.9345 (Already Reached)
61.8% 1,9227 (Came within 36 pips on Friday 1-5-07, and this is 3 pips below our Weekly 61.8% Fibo Retracement level)
  • #531
  • Jan 6, 2007 8:22pm Jan 6, 2007 8:22pm
Okay, I have been posting Fibo Retracements based upon the recent upwards movement we have seen for the past 5 weeks or so.

This is a projection of Fibo Retracements based upon the price hitting several different lows from this weeks downward movement.

1. This Fibo Retracement is based upon the High 1.9846 on 12-1-2006 and the Low 1.9263 on Friday 1-5-2007

Retracement (upward movement projection)

38.2% 1.9485
50% 1.9554
61.8% 1.9623

2. This Fibo Retracement Projection is based upon the High 1.9846 on 12-1-2006 and the Low 1.9220 which is the 61.8% on the Daily and Weekly Time Frames which has not completed yet.
(This number is a proximate number within 10 pips)

Retracement (upward movement projection)

38.2% 1.9459
50% 1.9533
61.8% 1.9606

I will also post a projection based upon the Monthly Time Frame.
  • #532
  • Jan 6, 2007 8:29pm Jan 6, 2007 8:29pm
Here is what they come up with on the RF trader tip site

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o> </o>

Elliott : resistance in an impulse wave down 1.9393<o></o>

<o></o>

Scenario for today<o></o>

Current fall is near an end of wave around 1.9181 - 1.9191 zone, a rally should then procede to above 1.9373 or 1.9409. Fall below 1.9155 would cancel this scenario.

Be careful : early reversalup - top or bot possible<o></o>

<o></o>

Key point 1.9276 <o></o>

Elliott 1.9751 <o></o>

Closing 1.9300 <o></o>

Projection 1.9155 <o></o>

Trendline 1.9356 <o></o>

Trendline 1.9292 <o></o>

<o></o>

Res 2 1.9517 <o></o>

Ex-High 1.9445 <o></o>

Res 1 1.9409 <o></o>

Pivot 1.9336 <o></o>

Sup 1 1.9228 <o></o>

Ex-Low 1.9264 <o></o>

Sup 2 1.9155
  • #533
  • Edited Feb 2, 2007 5:49pm Jan 6, 2007 9:03pm | Edited Feb 2, 2007 5:49pm
This projection is based upon the Fibo Setup for the Monthly Time Frame

Low 1.8602 September 2006 (Lower Square on Chart)
High 1.9846 December 2006 (Higher Square on Chart)

This is the Fibo Retracement in progress now with the downward movement.

38.2% 1.9371 (Reached)
50% 1.9224 (Same Range as the Daily and Weekly 61.8% Retracement)
61.8% 1.9078 (185 pips below Fridays 1-5-07 Low) (Circle on Chart)

Based Upon the completion of the 50% Fibo 1.9224, we would have the same range as the Daily and Weekly 61.8% fibo on the upward retracement range.

If the price continues to drop to the Monthly 61.8% Fibo at 1.9078 mark - the projection on the upward retracement would be as follows:

(Yellow Circle on Chart)
38.2% 1.9371
50% 1.9462
61.8% 1.9552
  • #534
  • Jan 6, 2007 9:34pm Jan 6, 2007 9:34pm
Summitfx,
I have been using one of your scapling methods and with pretty good results. The one with the RSI 8/8. I use it with the 1 hour candle, 15m, 5m and 1m, when they all agree, I take my pips! Simple, Simple, Simple!
I also added Bolliger bands 18, and Slow Stochastic 6/5/2 and MACD for strength.
15 trades 15 wins.
Why are you using fozzy?
Just curious.
Stan
Quoting summitfx
Thanks Monarch- I think you are right on by focusing on 1 trading pair and analyzing it across many times frames and various indicators.. I have been a scalper since 1997-moving from stocks to etfs to futures and now fx. For scalpng purposes, I have adopted the fozzy method and coupled it with accretes ccidot indicator on a 15 minute chart. I'm looking to find some swing trades to compliment my scalping activities. I appreciate your in depth coverage of the highly volatile and huge profit potential of the GU. The following statement from Mark Cuban's blog says it best about you-
"Everyone has got the will to win, its only those with the will to prepare that do win"

Cheers~
  • #535
  • Jan 6, 2007 9:43pm Jan 6, 2007 9:43pm
I want to welcome everyone to the Daily Cable Analysis Thread!!

First things first, this threads purpose is exactly as the name states.

"Daily Cable Analysis"

I am not using this thread for no other reason than to analyze the GBP/USD (Cable). Please do not make the mistake in taking in position based upon what I have posted. This is a simple forum thread in which we discuss the analysis of the GBP currency.

All the information posted here by Monarch is for the sole purpose of examining and observing the movement, characteristic, and formations of the GBP currency.

Please do not confuse yourself with the thought that this is a trading signal, even though I post my trade positions so other members can see I am doing exactly as my strategies indicates.

I stated on my first post, that any trader who trade what they post should not be posting their analysis here.

This thread is not for some information you have drummed up off from signal provider, or a web site that gives you some prediction without the facts to show it.

This thread is a progressive work in respect to learning the smallest details with the use of technical analysis.

The term technical means:
1 a : having special and usually practical knowledge especially of a mechanical or scientific subject
</I>b : marked by or characteristic of specialization </I>
2 a : of or relating to a particular subject</I>
</I>b : of or relating to a practical subject organized on scientific principles
3: of or relating to technique</I> </I>
4 : relating to or caused by the functioning of the market as a discrete mechanism not influenced by macroeconomic factors <technical analysis</I>></I>

The term analysis means:
1 : separation of a whole into its component parts</I> </I>
2 a: the identification or separation of ingredients of a substance</I>
</I>b : a statement of the constituents of a mixture</I> </I>
3 a : proof of a mathematical proposition by assuming the result and deducing a valid statement by a series of reversible steps</I>
</I>b (1) : a branch of mathematics concerned mainly with functions and limits</I> </I>
4 a : an examination of a complex, its elements, and their relations</I>
</I>b : a statement of such an analysis</I> </I>
5 a : a method in philosophy of resolving complex expressions into simpler or more basic ones
  • #536
  • Jan 6, 2007 9:47pm Jan 6, 2007 9:47pm
I'm using a similiar method because I've learned to make money with it. I've been trading for 8 years and I've never seen a better more reliable method. I/m pretty much down to a 15 minute chart. If you look at a daily chart with the simple 8/8 formula from last week it's amazing the pips potential.
I'll have a lok at your new "stuff". For many years, I traded the emini s&p using a slow stochastic with success. Best wishes for continued success and Congrats!!


Quoting Stan
Summitfx,
I have been using one of your scapling methods and with pretty good results. The one with the RSI 8/8. I use it with the 1 hour candle, 15m, 5m and 1m, when they all agree, I take my pips! Simple, Simple, Simple!
I also added Bolliger bands 18, and Slow Stochastic 6/5/2 and MACD for strength.
15 trades 15 wins.
Why are you using fozzy?
Just curious.
Stan
Trade what you see - Not what you think
  • #537
  • Jan 6, 2007 9:47pm Jan 6, 2007 9:47pm
I stated on my first post, that any trader who trade what they post should not be posting their analysis here.

Any trader who does not trade what they post should not be posting their analysis here.
  • #538
  • Jan 6, 2007 9:51pm Jan 6, 2007 9:51pm
Quoting Stan
Summitfx,
I have been using one of your scapling methods and with pretty good results. The one with the RSI 8/8. I use it with the 1 hour candle, 15m, 5m and 1m, when they all agree, I take my pips! Simple, Simple, Simple!
I also added Bolliger bands 18, and Slow Stochastic 6/5/2 and MACD for strength.
15 trades 15 wins.
Why are you using fozzy?
Just curious.
Stan
Welcome, question for you.

In your Time Frames 1 HR, 15M, 5M and 1M - your saying when they agree, you take a position.

What time frame are you looking at when you feel the price has slowed or turned on you indicating your exit?

Thanks
  • #539
  • Jan 6, 2007 9:53pm Jan 6, 2007 9:53pm
I agree Monarch and hope that the vast majority of posts came from your analysis. I'd like you to take ownership of the thread and feel free to provide censorship when needed. We are here to discover your discoveries and compare them to our own analysis.


Quoting monarch
I want to welcome everyone to the Daily Cable Analysis Thread!!

First things first, this threads purpose is exactly as the name states.

"Daily Cable Analysis"

I am not using this thread for no other reason than to analyze the GBP/USD (Cable). Please do not make the mistake in taking in position based upon what I have posted. This is a simple forum thread in which we discuss the analysis of the GBP currency.

All the information posted here by Monarch is for the sole purpose of examining and observing the movement, characteristic, and formations of the GBP currency.

Please do not confuse yourself with the thought that this is a trading signal, even though I post my trade positions so other members can see I am doing exactly as my strategies indicates.

I stated on my first post, that any trader who trade what they post should not be posting their analysis here.

This thread is not for some information you have drummed up off from signal provider, or a web site that gives you some prediction without the facts to show it.

This thread is a progressive work in respect to learning the smallest details with the use of technical analysis.

The term technical means:
1 a : having special and usually practical knowledge especially of a mechanical or scientific subject
b : marked by or characteristic of specialization
2 a : of or relating to a particular subject
b : of or relating to a practical subject organized on scientific principles
3: of or relating to technique
4 : relating to or caused by the functioning of the market as a discrete mechanism not influenced by macroeconomic factors <technical analysis>

The term analysis means:
1 : separation of a whole into its component parts
2 a: the identification or separation of ingredients of a substance
b : a statement of the constituents of a mixture
3 a : proof of a mathematical proposition by assuming the result and deducing a valid statement by a series of reversible steps
b (1) : a branch of mathematics concerned mainly with functions and limits
4 a : an examination of a complex, its elements, and their relations
b : a statement of such an analysis
5 a : a method in philosophy of resolving complex expressions into simpler or more basic ones
Trade what you see - Not what you think
  • #540
  • Jan 6, 2007 10:04pm Jan 6, 2007 10:04pm
Quoting summitfx
I agree Monarch and hope that the vast majority of posts came from your analysis. I'd like you to take ownership of the thread and feel free to provide censorship when needed. We are here to discover your discoveries and compare them to our own analysis.
Summit, I will verify that every chart and analysis came from my own studies. I am at work daily scouring through every time frame and personal strategy that I have either learned from others, but mostly those I have personalized to fit my need.

I do not read any web page with forecast, or any type of media on the internet or a newspaper. As a matter of fact, I do not really even look at the calander.

Most information we need is right in front of us. News, yea, I know the days to watch for big movement, and those are nice days to scalp a bunch of pips. But when it is said and done, it is right back to anlysis of the currency and watching the directional indicators.

I do not need a bunch of post stating what every signal provider company says, I can go there and get that. This is the reason I continually post charts for everyone can see. I work up every fibo with my chart provided ones and back up every number with a cross check on my calculator.

I am determined to make the best of my time, so therefore everyone, please give me some technical analysis and reason behind your posts.

I have read summitfx posts, and I also trade one of your strategies which has made me some nice profits. But I am also deteremined to learn as much as possible so I can have a complete understanding of the Cable.

Thanks Summitfx, your more than welcome to share your strategies here anytime.
0 traders viewing now