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Daily Cable Analysis

  • #701
  • Jan 8, 2007 10:49am Jan 8, 2007 10:49am
Quoting monarch
Okay, maybe it wasn't a true scalp.

I have a exit targeted at 1.9379 automatically, I should have exited already.

Like I said, this is for fun, the profits for the day are in the bank already.
Just closed out at 35 Pips X 4 Lots on scalp =140 pips in 20 minutes.

It is getting really fun.

I think I will scalp a short here for about 10-15 pips if price hits 1.9386.
  • #702
  • Jan 8, 2007 10:55am Jan 8, 2007 10:55am
Quoting monarch
I have read you thread, and worked up a basic strategy base upon yours, I may come to your thread this week and ask a few questions still, if that is okay?

Watching now for price to slow here in this cluster of intersecting data.

Should I go Left, or Right?

Wait, it would be better if I went Up or Down.

Absolutely
  • #703
  • Jan 8, 2007 11:00am Jan 8, 2007 11:00am
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.
Well, nice to have kept the Long Postitions from the closed on Friday, they have clipped some nice profits. Target 1.9386 which I predicted yesterday (see Post above) is the exit for 3 Lots for 258 pips total.
  • #704
  • Jan 8, 2007 11:01am Jan 8, 2007 11:01am
Running fast..it is awesome.
  • #705
  • Jan 8, 2007 11:02am Jan 8, 2007 11:02am
It's gonna go for the next fibo level around 9450
Trade what you see, not what you think.
  • #706
  • Jan 8, 2007 11:04am Jan 8, 2007 11:04am
Quoting karmostaji
It's gonna go for the next fibo level around 9450
that's around the target number im looking at. we'll see...
  • #707
  • Jan 8, 2007 11:06am Jan 8, 2007 11:06am
Quoting monarch
Just closed out at 35 Pips X 4 Lots on scalp =140 pips in 20 minutes.

It is getting really fun.

I think I will scalp a short here for about 10-15 pips if price hits 1.9386.
Entry for a Short Scalp was at 1.9386, (5 Lots) Since entry the price jumped up to 1.9403 a 17 pip negative so far on extremes, waiting for retracement on this recent price increase.

Target 1.9360 for exit.
  • #708
  • Jan 8, 2007 11:09am Jan 8, 2007 11:09am
Quoting parlenk
Running fast..it is awesome.
Were you still in a Long from yesterday after you said you were going Long?
  • #709
  • Jan 8, 2007 11:19am Jan 8, 2007 11:19am
I have missed all these moves from being too sleepy and have placed my trades with no stop losses and everything has turned against me...


How far is this thing going to go up??
trading on demo is not trading
  • #710
  • Jan 8, 2007 11:23am Jan 8, 2007 11:23am
Quoting enzo2325
I have missed all these moves from being too sleepy and have placed my trades with no stop losses and everything has turned against me...


How far is this thing going to go up??
I have seen this happen before, price is downward heavy one week, then the next week comes, drops 50 pips at open, then turns upward for 200-250 pips, and vice-versa.

I am looking at the 1.9386 as a temporary place to slow, that is why I placed a quick short here for 25 pips. I was expecting it to catch a breather from the past 4 Bull 1 Hour Candles.
  • #711
  • Jan 8, 2007 11:24am Jan 8, 2007 11:24am
Originally Posted by barakah
scares me when reading between your lines, could you be having double short entries below 61.8, tp at line drawn 308, ... ... your acc must be huge...
Quoting Just1Pip
I am begining to wonder too.
No use getting sensitive, if you was commenting on my post.
I was commenting on the account size.
  • #712
  • Jan 8, 2007 11:29am Jan 8, 2007 11:29am
<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR title="Post 179180" vAlign=top><TD class=alt1 align=middle width=125>monarch</TD><TD class=alt2>I have seen this happen before, price is downward heavy one week, then the next week comes, drops 50 pips at open, then turns upward for 200-250 pips, and vice-versa.

I am looking at the 1.9386 as a temporary place to slow, that is why I placed a quick short here for 25 pips. I was expecting it to catch a breather from the past 4 Bull 1 Hour Candles.</TD></TR></TBODY></TABLE>



So you think its only going to retrace a bit and continue upwards?
trading on demo is not trading
  • #713
  • Jan 8, 2007 11:29am Jan 8, 2007 11:29am
We just closed the 30 minute candle at 1.9379 which could be setting us up for a nice Pin Bar (Nose) formation, depending on the outcome of this 30 Minute Bar.

If we see price close the next candle at the 1.9381 or lower, it qualify the 30 Minute, and set up the 1 Hour for the same pattern.

Just an observation.
  • #714
  • Jan 8, 2007 11:36am Jan 8, 2007 11:36am
and if it sets up a 'pin bar' then the price will start to fall and we'll go downwards? just learning
Trade what you see, not what you think.
  • #715
  • Jan 8, 2007 11:40am Jan 8, 2007 11:40am
Quoting enzo2325
<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR title="Post 179180" vAlign=top><TD class=alt1 align=middle width=125>monarch</TD><TD class=alt2>I have seen this happen before, price is downward heavy one week, then the next week comes, drops 50 pips at open, then turns upward for 200-250 pips, and vice-versa.


I am looking at the 1.9386 as a temporary place to slow, that is why I placed a quick short here for 25 pips. I was expecting it to catch a breather from the past 4 Bull 1 Hour Candles.
</TD></TR></TBODY></TABLE>



So you think its only going to retrace a bit and continue upwards?
I am still looking over the charts, I am running short on time right now, so it could be tonight before I have a strategy for a short term trader (short term defined here is a day trader).

There are so many facets to a traders techniques, it is possible as you have seen, to take a trade for a day or two, and during the same time scalp up and down the retracements.

This has been the purpose of my post of positions, to show you that you could have a Long opened for say a 200 pip target, then at the same time, you could be scalping on the same direction, and even against that directions.

You must have at least two brokers if your planning on this style of trading.

This has been a revelation I personally recognized a few months back for my own personal style. You can see how easy the profits were gained from the open of yesterday until just less than 24 hours later.

You have an opportunity to make your weekly goal in just 1 day, I made my weekly goal in less than 24 hours so far.

This is why I am just scalping a short and posting my positions before the move happens, it is to show newbies that there is a way to make profits in trading the Forex by being completely aware of the currencies trend/directional movement befoe entering a position.

Please do take my positions or predictions as a trade recommendation, or signal for entering the market, the purpose of posting positions is to show the confirmation of the strategy traded.
  • #716
  • Jan 8, 2007 11:41am Jan 8, 2007 11:41am
Quoting monarch
We just closed the 30 minute candle at 1.9379 which could be setting us up for a nice Pin Bar (Nose) formation, depending on the outcome of this 30 Minute Bar.

If we see price close the next candle at the 1.9381 or lower, it qualify the 30 Minute, and set up the 1 Hour for the same pattern.

Just an observation.
It won't in the 4hr... Still a pin bar to be considered as a strong one? By the way, 4hr is recovering from oversold quickly...

Note: Not an expert in pin-bars
  • #717
  • Jan 8, 2007 11:49am Jan 8, 2007 11:49am
Quoting karmostaji
and if it sets up a 'pin bar' then the price will start to fall and we'll go downwards? just learning
I posted a Chart for you can see a formation.

The far right pin bar is one that I drew in (Yellow) this is what I am watching for to complete a formation.

The Highest Bar in the circle is the Nose, and the Bar 3rd from the left is a Ear.

If we maintain this price for the next close (or lower), we watch for 1 more hour to see if we have a formation completion.

If the next candle shoots up after the Nose, and closes higher than the noses closing price it would interefere with the formation being properly completed.

Maybe someone else here is more of an expert on this, please feel free to clarify, or correct me.

Thanks
  • #718
  • Edited Feb 2, 2007 5:49pm Jan 8, 2007 11:52am | Edited Feb 2, 2007 5:49pm
.
  • #719
  • Jan 8, 2007 11:55am Jan 8, 2007 11:55am
Quoting cesarnc
It won't in the 4hr... Still a pin bar to be considered as a strong one? By the way, 4hr is recovering from oversold quickly...

Note: Not an expert in pin-bars
It could be if this 4 Hour were in now drops to below 1.9343-45 at close of bar.

So it seems from my view, which is only one eye, the other is still sleeping.
  • #720
  • Jan 8, 2007 12:01pm Jan 8, 2007 12:01pm
Current price and current daily fibs of 23.6 and 38.2 are area of supports and resistence in late November
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