Daily Cable Analysis

Quoting Stan

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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

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Quoting monarch

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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.

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Quoting ghitz

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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

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Quoting mosheber

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in 4 h chart and 1 h chart as well we can see positive divergence which can indicate that a possible reversal is around the corner.

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Quoting enzo2325

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How do you guys post charts like that and they look so big? I have a chart I would like to post that I have been working on.

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Quoting monarch

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This channel has breached both the 38.2% Fibo at 1.9463 - and the 50% at 1.9345. Now we are within striking distance on the 61.8% at 1.9227 range.

The major factor is looking at the 1 HR and the 4Hr, along with the Daily.

To go a step further in analyzing I also have configured ranges on the Weekly and the Monthly, and they are in full agreement that the range from 1.9206 to 1.9230 should be a major support area for this downtrend.

I would believe that looking at the response to the last 3 downward movments, there was a retracement factor, and why would there be a difference in the pattern now? Unless of course, we have finished the Wave 5 on the Grand Supercyle of the EW Theory. In that case we would now be in a Wave A correction, and I would then be looking for a support for this movement also. We will analyze this more closely this week and during the month.

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Quoting mosheber

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summitfx


can you show my where i can find the tsr indicator you used in your chart.

thank's

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