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Daily Cable Analysis

  • #921
  • Jan 9, 2007 6:39pm Jan 9, 2007 6:39pm
It seems 1.9350 support is under heavy attack...
  • #922
  • Jan 9, 2007 6:46pm Jan 9, 2007 6:46pm
Hi iiivb, mind sharing your analysis on your short (long term) and if any, your tp positions.
Quoting iiivb
It seems 1.9350 support is under heavy attack...
Right teaching produces right believing leads to right living. - J.P
  • #923
  • Jan 9, 2007 6:51pm Jan 9, 2007 6:51pm
Hi there, well... it is simple... support on Jan. 5th. is 1.9350 (before being savagely broken...) so for me that is the clue price level to watch. If it holds BELOW this level, for me, it is bearish the near term. By the way, I use 1H chart as default...

I actually have other trades opened, but Monarch (thread starter) asked just to talk about gbpusd trades.

Sorry...




Quoting barakah
Hi iiivb, mind sharing your analysis on your short (long term) and if any, your tp positions.
  • #924
  • Jan 9, 2007 6:53pm Jan 9, 2007 6:53pm
thanks, i was only asking on cable.
Right teaching produces right believing leads to right living. - J.P
  • #925
  • Jan 9, 2007 7:49pm Jan 9, 2007 7:49pm
Short order @ 1.9334 placed,
If hit tomorrow I'm in it to win it
  • #926
  • Jan 9, 2007 8:00pm Jan 9, 2007 8:00pm
We are going down more. My 4hr chart just confirmed this IM still short from 9424 and will take profit at 9179 be back a lil later
trading on demo is not trading
  • #927
  • Jan 9, 2007 8:22pm Jan 9, 2007 8:22pm
Quoting kharvell
Short order @ 1.9334 placed,
If hit tomorrow I'm in it to win it
Where do you have your SL placed and at what point are you expecting to TP?

I know you use a different system than me, so I'm curious as to how close they might be, as I'm not in "yet".
  • #928
  • Jan 9, 2007 8:23pm Jan 9, 2007 8:23pm
Quoting kharvell
Short order @ 1.9334 placed,
If hit tomorrow I'm in it to win it
Also, we are talking about the GBP? I'm seeing a low of 1.9348. Are you waiting until 9334 to go short?
  • #929
  • Jan 9, 2007 8:24pm Jan 9, 2007 8:24pm
Quoting 1Sundevil
Where do you have your SL placed and at what point are you expecting to TP?

I know you use a different system than me, so I'm curious as to how close they might be, as I'm not in "yet".
stop loss will be 100 pips, and I don't use tp's, just a sudo-trailing stop

Quote
Also, are we talking about the GBP? I'm seeing a low of 1.9348. Are you waiting until 9334 to go short?

Yes, I usually just add the spread to a recent minimum or maximum on daily, and that's my target. I also use RSI to tell me if it's a good time to buy or sell. You can read my method below for details
  • #930
  • Jan 9, 2007 8:34pm Jan 9, 2007 8:34pm
Haha here comes the big question?

Well, we already have a 50% retracement. This might be a good area to trigger a buyoff, remember off the daily, the uptrend line is still no broken. So those who are too positve on short swing for 100+ pips might be swung to alcatraz instead...Personally im not in anyposition yet, it'll be good to see how this turns out....
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  • #931
  • Jan 9, 2007 8:37pm Jan 9, 2007 8:37pm
LOL!!!



Quoting jest1081
Haha here comes the big question?

Well, we already have a 50% retracement. This might be a good area to trigger a buyoff, remember off the daily, the uptrend line is still no broken. So those who are too positve on short swing for 100+ pips might be swung to alcatraz instead...Personally im not in anyposition yet, it'll be good to see how this turns out....
  • #932
  • Jan 9, 2007 8:42pm Jan 9, 2007 8:42pm
Quoting jest1081
Haha here comes the big question?

Well, we already have a 50% retracement. This might be a good area to trigger a buyoff, remember off the daily, the uptrend line is still no broken. So those who are too positve on short swing for 100+ pips might be swung to alcatraz instead...Personally im not in anyposition yet, it'll be good to see how this turns out....
Interesting chart! Good luck to everyone
  • #933
  • Jan 9, 2007 8:44pm Jan 9, 2007 8:44pm
So where do we wanna be in?????
OOOH trading can be hard at times...
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  • #934
  • Jan 9, 2007 8:47pm Jan 9, 2007 8:47pm
Right now it seems that the market could really go either way and is in the midst of making its decision. There are technical reasons in the immediate short term to back long as well as short positions. It is at these moments where it always seems to me the simplest methods always seem to work. We have built a nice little range between 1.9369 and 1.9339. I have already scalped 20 pips out of this range and now will be looking for a breakout on close of this range on the 150 tick charts. Then I will use a short term dynamic pivot to dictate my exit. Position size will be small as this is only a short term breakout without any one sided fundamental or technical backing, however I will trade it just because this range showing indecision over this timeframe, coupled with the narrow width of the range makes it an attractive play for me. Also if 20 pips are generated prior to close, I will close half of the position and set remainder to b/e.
Man who scratches ass should not bite fingernails
  • #935
  • Jan 9, 2007 9:05pm Jan 9, 2007 9:05pm
Looks like we are stuck at 9362
trading on demo is not trading
  • #936
  • Jan 9, 2007 9:07pm Jan 9, 2007 9:07pm
Morning,

I am possibly seeing a zig zag 5-3-5 correction here where the 3rd part of the B wave goes up to around 9505 and then turns for a C wave down also with 5 waves a lesser degree in it.

Also with all the apparent confusion about where the market is, this is, I believe, according to EW a characteristic of a B wave.
Attached Image
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #937
  • Jan 9, 2007 9:20pm Jan 9, 2007 9:20pm
[quote=africanpip]Morning,

I am possibly seeing a zig zag 5-3-5 correction here where the 3rd part of the B wave goes up to around 9505 and then turns for a C wave down also with 5 waves a lesser degree in it.

Also with all the apparent confusion about where the market is, this is, I believe, according to EW a characteristic of a B wave.[ that looks like a good call! time will tell
  • #938
  • Jan 9, 2007 9:47pm Jan 9, 2007 9:47pm
I will be away during the Frankfurt and London Open, will pick up the action around 4 hours after London open.

Thanks for all the post and charts.

Good trading to everyone, make soome profits today.
  • #939
  • Jan 9, 2007 9:48pm Jan 9, 2007 9:48pm
we are going up.
  • #940
  • Jan 9, 2007 9:53pm Jan 9, 2007 9:53pm
long it is
Man who scratches ass should not bite fingernails
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