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Daily Cable Analysis

  • #901
  • Jan 9, 2007 6:47pm Jan 9, 2007 6:47pm
Thanks for this comment.



Quoting monarch
This is a tight spot here at the 1.9330-1.9340 area, it may take a lot of pressure to push through, I expect a strong support here after watching this mark yesterday hold down as a resistance.

Resistance becomes a Support.

This would not be recommendation, but we have made a completion of the
1 Hour, Daily, and Monthly time frame Fibo's levels on the upward move from 10-11-06 to 12-1-06 meeting a 38.2% retracement level minimum.

We are in a upwards movement for the week, and now that we have cleared the Fibo levels noted above, and we just completed the Fibo for the move upwards for this week so far, there is a straighter shot to the top around 1.9500 or 50% level around 1.9547 area to clear the 38.2% Fibo and the 50% Fibo for the Downward Movement from 12-1-06 to 1-7-07. This would also meet our distance range at 287 pip average.

Wow, hope your not confused, I understand it, but to type it?
  • #902
  • Jan 9, 2007 6:50pm Jan 9, 2007 6:50pm
went long @ 60, and a 60 pip stop. we will see. expect the pitchfork that will form to see this move up set up its lower median line between 9350 and 9320

g
With a break always expect a pullback, otherwise, you're dead meat/
  • #903
  • Jan 9, 2007 6:58pm Jan 9, 2007 6:58pm
as long as we stay below 1.9385 I expect downward movement if it breaks this level I'll be looking long
  • #904
  • Jan 9, 2007 6:59pm Jan 9, 2007 6:59pm
Quoting ghitz
went long @ 60, and a 60 pip stop. we will see. expect the pitchfork that will form to see this move up set up its lower median line between 9350 and 9320

g
I also was ready to pull the trigger here, but after several days of slightly jumping the gun, I have missed out on a tremendous amount of profit.

I am analysing this movement with a careful eye, for in patience you protect your assets.

I am going to watch for one more drop here to test the 1.9330-40 area for support.

That is the difference from making profit, and a large drawdown.
  • #905
  • Jan 9, 2007 7:09pm Jan 9, 2007 7:09pm
Hi all,

Here's some old trend lines that were left in one of my profiles. I noticed cable reacting to that thicker blue line on the 3rd. It's been effective a few times in containing price. And now it's in effect again.
Attached Image
Bundy's status today: "Waiting..."
  • #906
  • Jan 9, 2007 7:09pm Jan 9, 2007 7:09pm
As of yesterday, I have re-committed myself to only entering a position once all my indicators, and strategy has been completely met.

Yesterday, I jumped in to way too early (I was very eager).

I had most of the right positions so far this week.

Profits? - Yes - I have made profits, but too tight and too narrow.

Large Drawdowns? - Yes - Early entries before the completion of my indicators have been cleared.

I refuse to enter a position because I see a quick price jump or drop suddenly, I will be patient and wait my turn.

Jump and Dump - No More!
  • #907
  • Edited Mar 3, 2007 2:58pm Jan 9, 2007 7:09pm | Edited Mar 3, 2007 2:58pm
Quoting monarch
I also was ready to pull the trigger here, but after several days of slightly jumping the gun, I have missed out on a tremendous amount of profit.

I am analysing this movement with a careful eye, for in patience you protect your assets.

I am going to watch for one more drop here to test the 1.9330-40 area for support.

That is the difference from making profit, and a large drawdown.
thanks
probably early without confirmation, but chart speaks for itself
With a break always expect a pullback, otherwise, you're dead meat/
  • #908
  • Jan 9, 2007 7:24pm Jan 9, 2007 7:24pm
Okay, everyone here is in the question mode - Up or Down?

Believe me, I am really looking over my charts, and every time frame for a missing piece.

I would think if we voted now, 1/2 off us would be Long, the other 1/2 Short.

It was just in my mind that Long was the plan for the week.

And we have seen a 200 pip increase so far from the Low to High in 2 days.

I have so much data, that I cannot post it here. My desk looks like a wreck, and I am just a little cautious of either direction.

I just posted Shorts be Careful, I should have not said that, sorry.

I will try to post analysis, and not directional projection or cautions.

I want every trader here to make their decision based on what they feel in their own gut, and have researched for themselves.
  • #909
  • Jan 9, 2007 7:34pm Jan 9, 2007 7:34pm
is'nt this the price that started the massacre on thanksgiving?
  • #910
  • Jan 9, 2007 7:34pm Jan 9, 2007 7:34pm
Hey monarch i was in the same boat bro. Last night it was unclear to me. Once we hit the 9445 it became a little more clear. then today I watched on the 15min chart man it was like watching paint dry I put in a short at 9435 to take profit at 9375 which 9350's was 50% on the 1 hour validating what i was thinking to be a 4 wave. Now it looks like we are moving up looking at 9500's 9515 to be exact for tp but will tp earlier but this is how I'm seeing it. I looked for ways it could be short but was unable to come up with anything. Maybe you can show what your seeing for a short I could also be missing something.

Quoting monarch
Okay, everyone here is in the question mode - Up or Down?

Believe me, I am really looking over my charts, and every time frame for a missing piece.

I would think if we voted now, 1/2 off us would be Long, the other 1/2 Short.

It was just in my mind that Long was the plan for the week.

And we have seen a 200 pip increase so far from the Low to High in 2 days.

I have so much data, that I cannot post it here. My desk looks like a wreck, and I am just a little cautious of either direction.

I just posted Shorts be Careful, I should have not said that, sorry.

I will try to post analysis, and not directional projection or cautions.

I want every trader here to make their decision based on what they feel in their own gut, and have researched for themselves.
  • #911
  • Jan 9, 2007 7:45pm Jan 9, 2007 7:45pm
Hello Guys,

New here and would like to know the effect on tomorrows trade balance release.

Any clues on how this, I would really appreciate.

I see it's hard to tell whether we buy or sell but how much affect can this release have on us tomorrow? GBP/USD that is

Thank you and great to be part of this forum!

Christian99
  • #912
  • Jan 9, 2007 7:49pm Jan 9, 2007 7:49pm
Quoting fixme1too
Hey monarch i was in the same boat bro. Last night it was unclear to me. Once we hit the 9445 it became a little more clear. then today I watched on the 15min chart man it was like watching paint dry I put in a short at 9435 to take profit at 9375 which 9350's was 50% on the 1 hour validating what i was thinking to be a 4 wave. Now it looks like we are moving up looking at 9500's 9515 to be exact for tp but will tp earlier but this is how I'm seeing it. I looked for ways it could be short but was unable to come up with anything. Maybe you can show what your seeing for a short I could also be missing something.
I am very glad to have you on the thread, I have gleaned from your thread for many months.

Thanks for your analysis, they are great.

I have been in the mindset we should be going up to the 1.9500 area for our target range.

I am really trying to watch these key pivots and supports.

Looking at the Monthly, which I will make more chart posts later tonight, I see we should continue in a upward movement to a higher mark in the next several weeks.

I almost have this wierd feeling in the back of my head that we may reverse here and drop to 1.9211 mark. Like I said, in the back of my head.

There are several factors that make me to believe we could go down here soon, and the one is the Bounce we made to start the week.

The Fibo was partly penetrated on the 38.2% showing weakness, and somehow I think there is room to drop more towards 50% at 1.9200-15 area.

Lets watch the resistance and supports here for now.

Talk with everyone at the Frankfurt open. I have meeting for the next 4 hours.
  • #913
  • Jan 9, 2007 7:53pm Jan 9, 2007 7:53pm
I see two posabilities.(Don't we all? )

Anyway, Stoopid Save Picture wouldn't show my lines so I've copy and pasted here.

We have just gotten a daily pin off of the green support come resistance line. So for today I've gotten one trade out of the way.

Until we break one of those orange lines I don't think ANYONE knows where we are going.

We'll just have to see what the news announcements do the next while.

The yellow arrow line is a complete guess by the way. LOL

I'm going to play any action off of trend lines and supports. That's it for now.

Edit: Can't upload pic. I'll chuck it here in a minute or so.
Attached Image
Bundy's status today: "Waiting..."
  • #914
  • Jan 9, 2007 8:00pm Jan 9, 2007 8:00pm
Quoting christian99
Hello Guys,

New here and would like to know the effect on tomorrows trade balance release.

Any clues on how this, I would really appreciate.

I see it's hard to tell whether we buy or sell but how much affect can this release have on us tomorrow? GBP/USD that is

Thank you and great to be part of this forum!

Christian99
To be honest with you, I rarely look at the News times, I will watch the results from here. Anyway, they could say US is doing great, and the Dollar could bomb.

Thats my 2 pips worth, wished I could be of more help.
  • #915
  • Jan 9, 2007 8:01pm Jan 9, 2007 8:01pm
Question to attendees here:

I am acutely aware this supposed to be a gbp.usd forum. I want to follow the rules. However, wouldn't we be amiss if we didn't USE the other pairs as a tool in analyzing gbp.usd?

One very simple and obvious fact is this. The dollar has pushed every currency past several moving averages and fibo levels. The gbp.usd is lagging behind.

Take for example the eur.usd. 1.2930 is the 50% retracement on the daily move that Monarch has been referencing. Well, we are only 35 pips from touching it. Look at the eur/gbp and you'll see.

All I'm saying is there is "price divergence" currently and it should be used to every traders advantage. If this sort of analysis is frowned upon at this thread I'll stop.

Good trades to all.....
  • #916
  • Jan 9, 2007 8:04pm Jan 9, 2007 8:04pm
Quoting 59fender
is'nt this the price that started the massacre on thanksgiving?
The actual bull run started before this area, back on 10-11-06. This is the reason I have been targeting my Fibo's off of this starting point.
You could look at the Daily Chart and see that 10-11-06 was the starting point because you could not sub-divide Fibo setup until the Top was reached at 1.9846 12-1-2006.
  • #917
  • Jan 9, 2007 8:06pm Jan 9, 2007 8:06pm
Quoting Pickensrulz
Question to attendees here:

I am acutely aware this supposed to be a gbp.usd forum. I want to follow the rules. However, wouldn't we be amiss if we didn't USE the other pairs as a tool in analyzing gbp.usd?

One very simple and obvious fact is this. The dollar has pushed every currency past several moving averages and fibo levels. The gbp.usd is lagging behind.

Take for example the eur.usd. 1.2930 is the 50% retracement on the daily move that Monarch has been referencing. Well, we are only 35 pips from touching it. Look at the eur/gbp and you'll see.

All I'm saying is there is "price divergence" currently and it should be used to every traders advantage. If this sort of analysis is frowned upon at this thread I'll stop.

Good trades to all.....
Of course it is not frowned upon. While I did not start this thread. But like you said it, is about anylizing the GBP, and with that comes various aspects sometimes unbeknownst to some.
Keep us informed.
  • #918
  • Jan 9, 2007 8:11pm Jan 9, 2007 8:11pm
Quoting Pickensrulz
Question to attendees here:

I am acutely aware this supposed to be a gbp.usd forum. I want to follow the rules. However, wouldn't we be amiss if we didn't USE the other pairs as a tool in analyzing gbp.usd?

One very simple and obvious fact is this. The dollar has pushed every currency past several moving averages and fibo levels. The gbp.usd is lagging behind.

Take for example the eur.usd. 1.2930 is the 50% retracement on the daily move that Monarch has been referencing. Well, we are only 35 pips from touching it. Look at the eur/gbp and you'll see.

All I'm saying is there is "price divergence" currently and it should be used to every traders advantage. If this sort of analysis is frowned upon at this thread I'll stop.

Good trades to all.....
As Just1pip said, it is not frowned upon. I only ask that you would give us information in reference to the Cable. I don't want to see AUD/JPY info for instance. Please feel free to inform us of any developments.

By the way, I have traded Eur/Usd without even looking at their charts or analyzing. Most times the Cable is more stable, and the EUR is choppy. I have traded every pair available, and I will again.

I have started this thread to basically breakdown the Cable currency piece by piece with technical analysis.

Thanks
  • #919
  • Jan 9, 2007 8:23pm Jan 9, 2007 8:23pm
For me it's going down.I had a shooting star on my daily chart and indicator on H1 show me a down move even there is still room for scalp.my 2 cent
  • #920
  • Jan 9, 2007 8:23pm Jan 9, 2007 8:23pm
Quoting monarch
The actual bull run started before this area, back on 10-11-06. This is the reason I have been targeting my Fibo's off of this starting point.
You could look at the Daily Chart and see that 10-11-06 was the starting point because you could not sub-divide Fibo setup until the Top was reached at 1.9846 12-1-2006.
thanks
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