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Daily Cable Analysis

  • #1,421
  • Jan 12, 2007 1:23am Jan 12, 2007 1:23am
I am watching for the low during the Frankfurt 1 hours session before the London Open.

This will help determine direction for the next few hours or so.

I am using the 5 minute chart for this scenario.
  • #1,422
  • Jan 12, 2007 1:25am Jan 12, 2007 1:25am
The GBP/CHF-JPY are all making new highs~ FWIW
Trade what you see - Not what you think
  • #1,423
  • Jan 12, 2007 1:26am Jan 12, 2007 1:26am
This is where you shine Monarch and why I'm here

Quoting monarch
I am watching for the low during the Frankfurt 1 hours session before the London Open.

This will help determine direction for the next few hours or so.

I am using the 5 minute chart for this scenario.
Trade what you see - Not what you think
  • #1,424
  • Jan 12, 2007 1:34am Jan 12, 2007 1:34am
The High so far today is 1.9484

Frankfurt Low so far during the hour is 1.9469

Other area to watch is 1.9463 - this mark resisted us most of the day, we made a bounce from it to a low of 1.9441.

Update a little more in a moment - movement down happening.
  • #1,425
  • Jan 12, 2007 1:36am Jan 12, 2007 1:36am
Looks like the start of something big. Rejection of 61.8 fib - time for a big move down. Expected strong US retail sales should support the dollar.
  • #1,426
  • Jan 12, 2007 1:40am Jan 12, 2007 1:40am
Quoting notouch
Looks like the start of something big. Rejection of 61.8 fib - time for a big move down. Expected strong US retail sales should support the dollar.
Yes agree
  • #1,427
  • Jan 12, 2007 1:40am Jan 12, 2007 1:40am
1.9464 - right above the mark that has held us down all day -we will watch for 20 more minutes for final mark of Low.
  • #1,428
  • Jan 12, 2007 1:41am Jan 12, 2007 1:41am
Listening for Big Ben to chime in on this debate
Trade what you see - Not what you think
  • #1,429
  • Jan 12, 2007 1:44am Jan 12, 2007 1:44am
Quoting monarch
1.9464 - right above the mark that has held us down all day -we will watch for 20 more minutes for final mark of Low.

whats your idea about Core Retail Sales ?
  • #1,430
  • Jan 12, 2007 1:45am Jan 12, 2007 1:45am
That's tomorrow's news- Plenty of pip movement between now and then but that will certainly come into play for the bankers of London to ponder over yonder


Quoting viking
whats your idea about Core Retail Sales ?
Trade what you see - Not what you think
  • #1,431
  • Jan 12, 2007 1:49am Jan 12, 2007 1:49am
Now down to 1.9460, just below the 1.9463 mark.

The 5 minute candle did not close below 1.9463, but closed at 1.9465.

Key point here, if price stays above this line, I would imagine we are in an upward move for a while.

I placed my Exit on the Short at 1.9461 with 10 pips exact.

Entered a Long at 1.9461 until London open.

Pips so Far: 10 Long, 3 Long, 10 Short, new Long opened now.
  • #1,432
  • Jan 12, 2007 1:50am Jan 12, 2007 1:50am
Its coming close, wonder what is going to happen. My 4 hour no longer points to long, but 1 hr does... still... but for how long?
"Anything in life worth having, doesn't come easy."
  • #1,433
  • Jan 12, 2007 1:51am Jan 12, 2007 1:51am
as i wrote the last message my 4 hour changed its mind...
"Anything in life worth having, doesn't come easy."
  • #1,434
  • Jan 12, 2007 1:51am Jan 12, 2007 1:51am
Watching 1.9481 for a break now.
  • #1,435
  • Jan 12, 2007 1:52am Jan 12, 2007 1:52am
Nice work Monarch- I'm long too w/ tight stop. It seems like it's coiled up and ready to explode higher
Trade what you see - Not what you think
  • #1,436
  • Jan 12, 2007 1:58am Jan 12, 2007 1:58am
Will there be a 3rd attempt before the candle closes?
Right teaching produces right believing leads to right living. - J.P
  • #1,437
  • Jan 12, 2007 1:59am Jan 12, 2007 1:59am
We have seen the 1.9481-84 hold 4 times on the 5 min candle.

Low still at 1.9460

High at 1.9484

Fibo bounce 1.9463

Fibo Target
Upward - 1.9550-60
Downward -1.9330-6
  • #1,438
  • Jan 12, 2007 2:03am Jan 12, 2007 2:03am
The Dollar is definetly selling off so we should get our push but .80 area is a tough nut to crack
Trade what you see - Not what you think
  • #1,439
  • Jan 12, 2007 2:03am Jan 12, 2007 2:03am
Quoting summitfx
Nice work Monarch- I'm long too w/ tight stop. It seems like it's coiled up and ready to explode higher
With the bounce off of the 1.9463 area, and the Fibo 61.8% from yesterdays upward movement completed at 1.9453 we should hold the rest of the session above the 1.9463, Look to break the 1.9484 mark during the first 30 minutes of London session, then I am looking for the next Fibo at 1.9506 for a resistance, that will become our support for the shot up to 1.9550-60 area.
  • #1,440
  • Jan 12, 2007 2:07am Jan 12, 2007 2:07am
If we hold below the 1.9484 mark, and drop down below the 1.9460 mark and close below with a new candle opened under 1.9460 (no body touching or wick) we could be in for a Short.

Tricky - Tricky.

Be smart folks, hand on trigger, don't let your long back up on you if it drops as per this scenario.
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