Daily Cable Analysis | Page 40 | 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

  • #781
  • Jan 8, 2007 8:23pm Jan 8, 2007 8:23pm
I saw double top forming on 5m, 15m and 30 min chart. Anyone with me on this? I think it will go down to 9385.
  • #782
  • Jan 8, 2007 8:30pm Jan 8, 2007 8:30pm
i'd wait for it to break 408 and then short...target 370s
  • #783
  • Jan 8, 2007 9:11pm Jan 8, 2007 9:11pm
hey jest, it has done that twice already and just popped right back to 19430 area. i got three pips cuz i waited to get inand it dropped 15 before i did. what a dummy!!
  • #784
  • Jan 8, 2007 9:24pm Jan 8, 2007 9:24pm
Well isn't that a good indication?...coz if it happens the third time, it'll surely tank... Try to make sure it cuts clean and keep a tight SL. Ultimate trend is still bear. can't go wrong if u do so.
  • #785
  • Jan 8, 2007 9:26pm Jan 8, 2007 9:26pm
[quote=Leugimp]ALthough the immediate trend is down, most analysis on varying timeframes will show a move out of oversold territory. There is nice confluence at 1.9400 level which works nicely because we have the added bonus of it being such a psychological level as well. A retracement up to this level without price closing above 1.9426 will also set us up for a negative reversal which should bring us back down under our previous low of 1.9259. Symetrically, this scenario would be ideal with the new low move not coming below 1.8960 level. This would complete our weekly move with perhaps a bit of consolidation or immediate reversal on weeklys to go back and either make a new 52 week high or double top just under it. Everything is already in place on weeklys and dailys and a further move down is not necessary for development of this pattern other than improving symetrical factors.

QUOTE]


We have yet to see a close on 4 hr above that 9426 level. If we see a turn prior to any close above it, we should be heading back down to our previous low level in the least(negative reversal). Nevertheless, position sizing will be key as we are making the turn on the dailys to the upside, and if confirmed we could be stepping in front of a runaway train. Just an opinion, hope all did well yesterday.
Man who scratches ass should not bite fingernails
  • #786
  • Edited 9:43pm Jan 8, 2007 9:31pm | Edited 9:43pm
Well let me add my analysis and positioning for 10 mins charts...bullish
Attached Image
  • #787
  • Jan 8, 2007 9:31pm Jan 8, 2007 9:31pm
As for the immediate turn, my bubble indicator is signaling a short down to the 1.9377 level in the least. As far as the stop is concerned, I like to build up to this position and will short again if it reaches a higher level on the 150 tick chart and turns, yet will exit if the four hour seems to continue strong or if there is close on the 150 tick above the 1.9478 level. As for now short @ 1.9424
Man who scratches ass should not bite fingernails
  • #788
  • Jan 8, 2007 10:38pm Jan 8, 2007 10:38pm
[quote=Leugimp]
Quoting Leugimp
ALthough the immediate trend is down, most analysis on varying timeframes will show a move out of oversold territory. There is nice confluence at 1.9400 level which works nicely because we have the added bonus of it being such a psychological level as well. A retracement up to this level without price closing above 1.9426 will also set us up for a negative reversal which should bring us back down under our previous low of 1.9259. Symetrically, this scenario would be ideal with the new low move not coming below 1.8960 level. This would complete our weekly move with perhaps a bit of consolidation or immediate reversal on weeklys to go back and either make a new 52 week high or double top just under it. Everything is already in place on weeklys and dailys and a further move down is not necessary for development of this pattern other than improving symetrical factors.

QUOTE]


We have yet to see a close on 4 hr above that 9426 level. If we see a turn prior to any close above it, we should be heading back down to our previous low level in the least(negative reversal). Nevertheless, position sizing will be key as we are making the turn on the dailys to the upside, and if confirmed we could be stepping in front of a runaway train. Just an opinion, hope all did well yesterday.
So far this week has seen the Low go down to 1.9260 and then the High has reached 1.9436 which gives us 176 pip move upward.

We have seen strong resistance in the 1.9430-40 area, which has been a key resistance all the way back to 1978 (4 major support and resistance points) and 1990 and 1991 (once each year).

Last night at the Frankfurt and London Open we seen very little movement in comparisson to a usual open, but once again, it was only Sunday in the US. Tonight every market is gearing up, and we should have some brisk movement in the next few hours.

I have Shorts in place for the London boys that like to drive the price down during the first few hours of the market open, but first we may possibly see a Fibo 38.2% at 1.9444 for the Downwards movement last week to the Low at our Open this week.

This would be the ideal target for the resistance to hold tight.

Thank you everyone for your input here on the thread, I enjoy reading and reaffirming my strategies along side of all of you.
  • #789
  • Jan 8, 2007 10:44pm Jan 8, 2007 10:44pm
If it is possible, can some one post a chart with a divergence setup, any time frame over 1 hour.

Just like to see if there is a divergence coming up with the slow down we have had after todays large increase in price.

Thank you in advance.
  • #790
  • Jan 8, 2007 10:45pm Jan 8, 2007 10:45pm
Quoting jest1081
Well let me add my analysis and positioning for 10 mins charts...bullish
I have been following this same pattern on several time frames also.

Appreciate the posted chart.
  • #791
  • Jan 8, 2007 10:48pm Jan 8, 2007 10:48pm
Quoting sam1
I saw double top forming on 5m, 15m and 30 min chart. Anyone with me on this? I think it will go down to 9385.
We have been bumping our head for about 7 hours here, you should see a double top in several time frames, the 4 hour closed the last two bars within 4 pips of each other.
  • #792
  • Jan 8, 2007 10:54pm Jan 8, 2007 10:54pm
So far the 62 Day Moving Average has held against the 2-5-13-21 Ema's, but the 5 day EMA is pressing hard to break the 21 day EMA.
  • #793
  • Jan 8, 2007 10:59pm Jan 8, 2007 10:59pm
Quoting monarch
If it is possible, can some one post a chart with a divergence setup, any time frame over 1 hour.

Just like to see if there is a divergence coming up with the slow down we have had after todays large increase in price.

Thank you in advance.
Here is the unconfirmed yet extremely dangerous and opportunistic positive reversal forming on the dailys. Usually, a positive reversal eventually leads to a bearish divergence(currently a lower rsi has been unable to drive price lower usually leading to higher price with lower RSI reading), yet that is exactly why divergences must be analyzed very carefully, especially in terms of timing. I usually find that RSI Divergence differs greatly in bearish vs bullish divergence as far as in what range within the 0-100 scale that they materialize. Other than that, I usually look for these positive and negative reversals for trend continuation alot more often than divergence as I feel the signals they generate are better timed and more reliable.
Attached Image
Man who scratches ass should not bite fingernails
  • #794
  • Jan 8, 2007 11:02pm Jan 8, 2007 11:02pm
heres my 4 hour chart... I don't like posting charts because they look so small when I do
Attached Image
trading on demo is not trading
  • #795
  • Jan 8, 2007 11:04pm Jan 8, 2007 11:04pm
Quoting enzo2325
heres my 4 hour chart... I don't like posting charts because they look so small when I do
What are you using, the ATARI of charting software
Man who scratches ass should not bite fingernails
  • #796
  • Jan 8, 2007 11:05pm Jan 8, 2007 11:05pm
Not only is it forming a double top the 1/5 on high and 1/9 high. But it has also formed a Cup and is now in the process of forming a handle to the cup. Also in a very tight upward channel. And is still right under its 38.2 retracement on the hourly chart. But still looks like a corrective wave. Of the current wave.
Quoting monarch
We have been bumping our head for about 7 hours here, you should see a double top in several time frames, the 4 hour closed the last two bars within 4 pips of each other.
  • #797
  • Jan 8, 2007 11:06pm Jan 8, 2007 11:06pm
Quoting Leugimp
Here is the unconfirmed yet extremely dangerous and opportunistic positive reversal forming on the dailys. Usually, a positive reversal eventually leads to a bearish divergence(currently a lower rsi has been unable to drive price lower usually leading to higher price with lower RSI reading), yet that is exactly why divergences must be analyzed very carefully, especially in terms of timing. I usually find that RSI Divergence differs greatly in bearish vs bullish divergence as far as in what range within the 0-100 scale that they materialize. Other than that, I usually look for these positive and negative reversals for trend continuation alot more often than divergence as I feel the signals they generate are better timed and more reliable.
Indeed, there ia a long term divergence.

Even though its a nice indication of price reversal especially with the use of the RSI, have you applied a slow stochastic to see if will agree with the RSI signal.

This may not come into play right now, but I like to look at these sometimes when there is a bunch of Fibo's getting knocked out, and the data is in limbo.
  • #798
  • Jan 8, 2007 11:09pm Jan 8, 2007 11:09pm
<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR title="Post 181844" vAlign=top><TD class=alt1 align=middle width=125>Leugimp</TD><TD class=alt2>What are you using, the ATARI of charting software</TD></TR></TBODY></TABLE>




hahaha thats hilarious dude.... Hey its a so much easier for me to understand the charts then the ones you guys post. if green is above red I buy if red is above green I sell and the yellow lines are my retracements
trading on demo is not trading
  • #799
  • Jan 8, 2007 11:10pm Jan 8, 2007 11:10pm
Quoting dobbie11
Not only is it forming a double top the 1/5 on high and 1/9 high. But it has also formed a Cup and is now in the process of forming a handle to the cup. Also in a very tight upward channel. And is still right under its 38.2 retracement on the hourly chart. But still looks like a corrective wave. Of the current wave.
Cup and handle formations on these time frames and especially in currency charts are extremely subject and should never be used as setups the classic way you normally would. In fact , you will find that their failures are more profitable. A cup with handle has very specific attributes that many people disregard, I would warn you not to be one of them as we don't have any volume information, and the symmetry of it is out of whack(2 very important factors if weighing in the probability of this pattern continuation). Just an opinion.
Man who scratches ass should not bite fingernails
  • #800
  • Jan 8, 2007 11:11pm Jan 8, 2007 11:11pm
Quoting enzo2325
<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR title="Post 181844" vAlign=top><TD class=alt1 align=middle width=125>Leugimp</TD><TD class=alt2>What are you using, the ATARI of charting software</TD></TR></TBODY></TABLE>




hahaha thats hilarious dude.... Hey its a so much easier for me to understand the charts then the ones you guys post. if green is above red I buy if red is above green I sell and the yellow lines are my retracements

I'm just messing around buddy - I use hand drawn sometimes, whatever works for you is all that matters.
Man who scratches ass should not bite fingernails
9 traders viewing now