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Daily Cable Analysis

  • #561
  • Jan 7, 2007 6:16pm Jan 7, 2007 6:16pm
If you have a chart with GBP/USD resistance-supports could you post that also.

I prefer only posting Cable charts on this thread, but I like the analysis.

Thanks
  • #562
  • Edited Mar 3, 2007 2:57pm Jan 7, 2007 6:23pm | Edited Mar 3, 2007 2:57pm
Quoting monarch
If you have a chart with GBP/USD resistance-supports could you post that also.

I prefer only posting Cable charts on this thread, but I like the analysis.

Thanks
there you go

is this the first time cable has a sustained monthly close above resistance (1.9200)???. that is the key level IMHO. The story wont end until 31/01/07

I understand what you mean with "cable only", but cable is in a way a proxy to eurodollar, hence the need to analyse it to. also need to see other sterling pairs to understand if a cable move is a sterling move only, or a dollar move.

something to think about.
With a break always expect a pullback, otherwise, you're dead meat/
  • #563
  • Jan 7, 2007 6:26pm Jan 7, 2007 6:26pm
Now the market opened it looks like the Cable will be heading down to test the Low that was on Friday 1-5-07 at 1.9263. If this plays out, we wil see a double bottom Low.

1.9260 has been a key price range on the Monthly Charts in February of 2005.

We will be watching if price breaks this Low, but I am still anticipating a further drop today and tomorrow to 1.9230 and 1.9206 range.
  • #564
  • Jan 7, 2007 6:28pm Jan 7, 2007 6:28pm
I undertand the comparisson with the EUR, I usually do not compare much with the other currencies, but I have on occasion took a position on the EUR because I new it would do the same as GBP.

Thanks for the Chart.
  • #565
  • Jan 7, 2007 6:32pm Jan 7, 2007 6:32pm
Quoting monarch
I undertand the comparisson with the EUR, I usually do not compare much with the other currencies, but I have on occasion took a position on the EUR because I new it would do the same as GBP.

Thanks for the Chart.
no worries, i always use it as a filter.

bedtime for me......i live in a london time, and have to be ready for the london open.

I expect a consolidating monday, so scalping day for me (i guess). dont see a big move until tuesday-wednesday.

good luck all to you chaps across the pond

g
With a break always expect a pullback, otherwise, you're dead meat/
  • #566
  • Jan 7, 2007 6:55pm Jan 7, 2007 6:55pm
We just completed a double bottom from Fridays Low 1.9263 hitting the 1.9260 on the button. We should see some strong Support here for the next few hours before descending lower once again.

My prediction would be 56 pips below Fridays Low to bottom out at 1.9207 support level.

I have seen patterns like this many times with GBP. Start the week out in the same movement as the close of Friday, catch a Support?Resistance, then reverse for the week.

The next question that lies before us is this.

Can 1.9260 Hold Support for now, and if not, will we see 1.9207 as our next range for Support?

My predictions has been the same through the close of Friday.

A continuation downward hitting the FIBO marks, then a retracement up to the 1.9500 range.
  • #567
  • Jan 7, 2007 7:15pm Jan 7, 2007 7:15pm
Active positions.

Please do not confuse this as a trade signal, or recommendation.

It is for the sole purpose of testing my analytical strategies by the use of live trades.

Positions:

Position 1: Long 1.9269 entered Friday 1-5-07
(drawdown 9 pips so far)

Positon 2: Long 1.9302 entered Friday 1-5-07
(drawdown 42 pips so far)

Position 3: Long (Entry Waiting) 1.9239

Position 4: Long (Entry Waiting) 1.9212

Stops are all below 1.9200
Limits-Targets are all at 1.9694
(I Will observe strength of the retracement to pinpoint Target -waiting...)
  • #568
  • Jan 7, 2007 7:29pm Jan 7, 2007 7:29pm
I will see everyone here at the Frankfurt-London open in about 5 hours.

Happy Trading to everyone this week.

Trade wisely, be prepared, and be patient.
  • #569
  • Jan 7, 2007 7:42pm Jan 7, 2007 7:42pm
Monarch- If you are indeed expecting further declines in the GU, why are you loading up on long positions? Thanks

Quoting monarch
We just completed a double bottom from Fridays Low 1.9263 hitting the 1.9260 on the button. We should see some strong Support here for the next few hours before descending lower once again.

My prediction would be 56 pips below Fridays Low to bottom out at 1.9207 support level.

I have seen patterns like this many times with GBP. Start the week out in the same movement as the close of Friday, catch a Support?Resistance, then reverse for the week.

The next question that lies before us is this.

Can 1.9260 Hold Support for now, and if not, will we see 1.9207 as our next range for Support?

My predictions has been the same through the close of Friday.

A continuation downward hitting the FIBO marks, then a retracement up to the 1.9500 range.
Trade what you see - Not what you think
  • #570
  • Jan 8, 2007 12:26am Jan 8, 2007 12:26am
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<HR style="COLOR: #d1d1e1" SIZE=1><!-- / icon and title --><!-- message -->Well looking at my charts and doing some calculations....Looks like the market will break down from the point we are in now to 9262. I see a Bollinger squeeze and a breakout is going to occur and it looks like its going down from the next candle that formed before the market closed. Also a Double bottom formed at 9262 so there will be another attempt to break it but I dont think it will and reversal will come into play. If it breaks 9311 I think it will take out my 38.2 fibo and rise to 9333 and then eventually hit 9407.

I still have my longs in play and am down some money so this baby needs to rise!!
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"He who asks a question is a fool for five minutes. He who does not ask a question remains a fool forever."
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Well, I got to say this but im pretty proud of myself
Can't get to excited yet though lol
trading on demo is not trading
  • #571
  • Jan 8, 2007 12:39am Jan 8, 2007 12:39am
Quoting summitfx
Monarch- If you are indeed expecting further declines in the GU, why are you loading up on long positions? Thanks
Good question.

Through my Analysis for the week, I still expected some continuation of the downward movement into the lower 9200's, but that would only be the case if every Fibo hits it's target range at the 61.8% mark.

The purpose of the 4 Long position strategy is to catch the retracement at different price levels that I have targeted, and allowing every Fibo to be targeted for an entry.

There is times during a retracement that only certain Fibo ranges are met, so in this case I would have positions placed at every level of retracement for my analysis strategy, and trader log.

Even though I place my positions here on the thread, I have also placed several other entries at different levels for other technicals and theories I am still working on.

The purpose of this thread originally was to analyze every breakdown of every time frame, so during the process, I also have broke down entry targets and exit targets accordingly.

Believe me, I want to make profits, and I do! This is just one strategy that I have posted exclusively here on this thread, and I only reveal my positions so people can see that I trade in accordance to this strategies I have shared solely on this thread.

If any one here has questions, or perhaps you disagree with me, please let me know.

There are many facets and strategies in trading, but this is only one of them.

Good Trading to all!
  • #572
  • Jan 8, 2007 12:43am Jan 8, 2007 12:43am
Makes Sense Monarch- Let's Rock the Market tonight.
Trade what you see - Not what you think
  • #573
  • Jan 8, 2007 12:43am Jan 8, 2007 12:43am
Got a Chart Enzo


Quoting enzo2325
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<hr style="color: rgb(209, 209, 225);" size="1"><!-- / icon and title --><!-- message -->Well looking at my charts and doing some calculations....Looks like the market will break down from the point we are in now to 9262. I see a Bollinger squeeze and a breakout is going to occur and it looks like its going down from the next candle that formed before the market closed. Also a Double bottom formed at 9262 so there will be another attempt to break it but I dont think it will and reversal will come into play. If it breaks 9311 I think it will take out my 38.2 fibo and rise to 9333 and then eventually hit 9407.

I still have my longs in play and am down some money so this baby needs to rise!!
<!-- / message --><!-- sig -->__________________
Enzo

"He who asks a question is a fool for five minutes. He who does not ask a question remains a fool forever."
Chinese Proverb
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Well, I got to say this but im pretty proud of myself
Can't get to excited yet though lol
Trade what you see - Not what you think
  • #574
  • Jan 8, 2007 12:45am Jan 8, 2007 12:45am
Quoting enzo2325
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<HR style="COLOR: #d1d1e1" SIZE=1><!-- / icon and title --><!-- message -->Well looking at my charts and doing some calculations....Looks like the market will break down from the point we are in now to 9262. I see a Bollinger squeeze and a breakout is going to occur and it looks like its going down from the next candle that formed before the market closed. Also a Double bottom formed at 9262 so there will be another attempt to break it but I dont think it will and reversal will come into play. If it breaks 9311 I think it will take out my 38.2 fibo and rise to 9333 and then eventually hit 9407.


I still have my longs in play and am down some money so this baby needs to rise!!
<!-- / message --><!-- sig -->__________________
Enzo

"He who asks a question is a fool for five minutes. He who does not ask a question remains a fool forever."
Chinese Proverb

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Well, I got to say this but im pretty proud of myself
Can't get to excited yet though lol
I appreciate the post that you shared. It is always nice when they are posted before the actual move. This is exactly the reason we share, so we can be prepared before an actual direction takes place.

I anticipated the double bottom at the Low from Friday, and it was no shock. I now expect the London Open to bring the movement back into play and possibly test the Low once more.

Actually, there is a good chance that we could see a nice clip up during the pre-London open, then see the continuation downwards below our recent Low. This would actually set us up with a nice upwards bounce for Long the rest of the weekly.
  • #575
  • Jan 8, 2007 12:49am Jan 8, 2007 12:49am
Quoting summitfx
Makes Sense Monarch- Let's Rock the Market tonight.
This should be a great week for some awesome profits, I am going to be doing some good scalping here tonight - along with the slow and tedious analysis which takes tremendous time and energy to prepare for everyone here.

I hope it is helping someone, if it's not, let me know, I will just make money and forget about the thread.

Lets get ready for Franfurt and London open.
  • #576
  • Jan 8, 2007 12:52am Jan 8, 2007 12:52am
I Love the attitude Monarch!! I'm excited and feel like i'm trading right next to you


<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR title="Post 178689" vAlign=top><TD class=alt1 align=middle width=125>summitfx</TD><TD class=alt2>Got a Chart Enzo
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I actually deleted that chart. I am going by the one I always trade with. Posting my charts on here are a pain in the rear and that's why I never really do...

o yes! We are definately moving up to 9322
trading on demo is not trading
  • #577
  • Jan 8, 2007 12:54am Jan 8, 2007 12:54am
Lets just say I have a little secret.

Price should go up here for the next 1 - 1 1/2 hours or so - to lets say 1.9386 before it snags a resistance.

Don't ask me why, and don't trade because I said it, just watch and see.

This is crazy to predict such a notion - but hey, that is my target to release my Longs tonight.
  • #578
  • Jan 8, 2007 12:54am Jan 8, 2007 12:54am
I just started learning about Fibo's and pivot points and thats all im trading now. It has been working out pretty well.


I think we might see a 9340...?
trading on demo is not trading
  • #579
  • Jan 8, 2007 1:13am Jan 8, 2007 1:13am
I am kinda bored here, looking through the forum for something interesting to read, can't seem to find much now.

Will be waiting for some more price movement for exit strategy on Longs I have in place.

Probably could close out now, and be done for the week.

Nice profits from the Low today - 60 pip scalp just closed - not bad if you add a bunch of lots to it, I did not disclose this entry for scalping strategy, sorry

But I will stay and continue the thread.
  • #580
  • Jan 8, 2007 1:15am Jan 8, 2007 1:15am
Quoting monarch
Lets just say I have a little secret.

Price should go up here for the next 1 - 1 1/2 hours or so - to lets say 1.9386 before it snags a resistance.

Don't ask me why, and don't trade because I said it, just watch and see.

This is crazy to predict such a notion - but hey, that is my target to release my Longs tonight.
right now seems to being attempting to bounce the daily pivot point
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