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Daily Cable Analysis

  • #1,701
  • Jan 15, 2007 11:41am Jan 15, 2007 11:41am
Quoting parlenk
On my IBFX chart the 4H already show a hanging man but on MIG chart nothing.what do you think guys? yes i can see on H1 it's going down.usually i must convince by the 4H to enter the market but since 2 chart give me 2 different information.
Thanks for the heads up, I switched to look at the 4Hr also, there is strong indication here for a downward retracement with the past two candles.
  • #1,702
  • Jan 15, 2007 11:44am Jan 15, 2007 11:44am
Quoting cesarnc
Thanks, Mosheber... Are you short @ 966X?

I'm waiting as much as I can to place a short. However, as Asian session approaches, I will have to fly blind, during most of the session... I'm 13 hr behind Tokyo here....
yes i'm short from 9667 sl 9720 , tp1 9585 and than 9534 38% fibo from last high there we have to watch price action again.
  • #1,703
  • Jan 15, 2007 11:55am Jan 15, 2007 11:55am
[quote=mackaozy;187288][quote=monarch;187283]This was my projection yesterday, which I felt that 1.9645 would be the range of a new high, but we did see it go up to 1.9667 +22 pips higher.

We are now working a range around the 1.9650 mark just over the 1.9645 area I projected.

The next push up (if there is one), would be up to 1.9677 area, then a test of 1.9700 is not out of the question before we see a real strong resistance to this upward movement.

So far during this move upwards we have the bottom at 1.9316 and the top at 1.9667 - that would be 351 pips distance, the 3rd largest the past 10 range movements.

By the look of it your forecast is spot on, and the downturn has just started from 1.9662, any ideas of how low it's going to go?


I really don't like to make to many projections. I could right now give you every move I feel is going to happen from our High at 1.9667, but that would not be too much fun if we knew exactly where it was actually going.

I will make a projection for a downward once I have the completion of my setup, I am only giving projection for one move at a time.

I have already charted the complete week out, and the positions Iwill trade, it has started before the close of the market last week when I said we would have a continuation from our high of 1.9606 which we have seen today.

I do think that we should see a cooling off here somewhat this week, before we go upwards once again and test the1.9750 area.

(I will be watching the Monthly to see if it closes at 1.9749 area. That may seem a long way for most traders, but I am looking for a couple of key ingredients to materialize to determine our 2007 direction)
  • #1,704
  • Jan 15, 2007 12:02pm Jan 15, 2007 12:02pm
[quote=mosheber;187292]yes i'm short from 9667 sl 9720 , tp1 9585 and than 9534 38% fibo from last high there we have to watch price action again.[/quote

1.9532 would be my 1st target on a retracement here, with a 2nd target at 1.9472 - based upon FIbo levels and range averages.
  • #1,705
  • Jan 15, 2007 12:09pm Jan 15, 2007 12:09pm
On the weekly chart there is a double bottom low with a higher close for the weeks of 1-5 and 8-12 January (there is a 3 pip difference between the lows on my charts). According to the James16 thread this should indicate the continuation of the current trend which is UP. What do you guys think?
  • #1,706
  • Jan 15, 2007 12:17pm Jan 15, 2007 12:17pm
[quote=monarch;187295][quote=mackaozy;187288]
Quoting monarch
This was my projection yesterday, which I felt that 1.9645 would be the range of a new high, but we did see it go up to 1.9667 +22 pips higher.

We are now working a range around the 1.9650 mark just over the 1.9645 area I projected.

The next push up (if there is one), would be up to 1.9677 area, then a test of 1.9700 is not out of the question before we see a real strong resistance to this upward movement.

So far during this move upwards we have the bottom at 1.9316 and the top at 1.9667 - that would be 351 pips distance, the 3rd largest the past 10 range movements.

By the look of it your forecast is spot on, and the downturn has just started from 1.9662, any ideas of how low it's going to go?


I really don't like to make to many projections. I could right now give you every move I feel is going to happen from our High at 1.9667, but that would not be too much fun if we knew exactly where it was actually going.

I will make a projection for a downward once I have the completion of my setup, I am only giving projection for one move at a time.

I have already charted the complete week out, and the positions Iwill trade, it has started before the close of the market last week when I said we would have a continuation from our high of 1.9606 which we have seen today.

I do think that we should see a cooling off here somewhat this week, before we go upwards once again and test the1.9750 area.

(I will be watching the Monthly to see if it closes at 1.9749 area. That may seem a long way for most traders, but I am looking for a couple of key ingredients to materialize to determine our 2007 direction)

Could you suggest where on the internet I can find some more info on charts and indicators? Or e-books? I' still having trouble with Fibs and where to set support/resistance levels, and which time-line to use?

I should probably be in the newbie forum but I'd rather learn from someone who is knowledgeable.

Many thanks
  • #1,707
  • Jan 15, 2007 12:21pm Jan 15, 2007 12:21pm
Quoting mosheber
yes i'm short from 9667 sl 9720 , tp1 9585 and than 9534 38% fibo from last high there we have to watch price action again.
Thanks Mosheber...
  • #1,708
  • Jan 15, 2007 12:27pm Jan 15, 2007 12:27pm
Quoting mpathare
On the weekly chart there is a double bottom low with a higher close for the weeks of 1-5 and 8-12 January (there is a 3 pip difference between the lows on my charts). According to the James16 thread this should indicate the continuation of the current trend which is UP. What do you guys think?
That may be the question of the Day!

Maybe James has an answer for you.
  • #1,709
  • Jan 15, 2007 12:28pm Jan 15, 2007 12:28pm
[quote=mackaozy;187306][quote=monarch;187295]
Quoting mackaozy


Could you suggest where on the internet I can find some more info on charts and indicators? Or e-books? I' still having trouble with Fibs and where to set support/resistance levels, and which time-line to use?

I should probably be in the newbie forum but I'd rather learn from someone who is knowledgeable.

Many thanks
Search the forums and ye shall find.

This is more like analysis going here.
  • #1,710
  • Jan 15, 2007 12:33pm Jan 15, 2007 12:33pm
Monarch,

Have you started contemplating the possibility of resumption of the uptrend from here (9640s - 9750s and UP), instead of a downward move first? Your last posts got me confused here, sorry about that.

César
  • #1,711
  • Jan 15, 2007 12:39pm Jan 15, 2007 12:39pm
Quoting mpathare
On the weekly chart there is a double bottom low with a higher close for the weeks of 1-5 and 8-12 January (there is a 3 pip difference between the lows on my charts). According to the James16 thread this should indicate the continuation of the current trend which is UP. What do you guys think?
now blend the bars together and you get a HUGE spinning top. indecision. current weekly bar is inside bar that spinner.

it tells you where the larger range will be for the next 2 weeks.

g
With a break always expect a pullback, otherwise, you're dead meat/
  • #1,712
  • Jan 15, 2007 12:52pm Jan 15, 2007 12:52pm
before one month i think the rate of GBP was 3.75 , then they rise to 4.00 at that moment the GBP down may 250 pip , but in these day when they rise the rate to 4.25 the GBP up about 260 pip, so i am confused, can any one explain please ....
  • #1,713
  • Jan 15, 2007 12:59pm Jan 15, 2007 12:59pm
Quoting parlenk
On my IBFX chart the 4H already show a hanging man but on MIG chart nothing.what do you think guys? yes i can see on H1 it's going down.usually i must convince by the 4H to enter the market but since 2 chart give me 2 different information.
Parlenker, if u not sure , then better wait...., the next candle or tomorrow...


Btw, SuK A LaG u ApP a ?
I Deeply Love My Virtual Life In Virtual World , RLC
  • #1,714
  • Jan 15, 2007 1:01pm Jan 15, 2007 1:01pm
Quoting katzenhai2
I have an offtopic question:
Which one is the right fibo level: 76.4% or 78.6%?
With google I can find both!?

Katzenhai2, This is difficult to keep brief because the power of Fibs is so extensive. 61.8% is the most used and powerful because it is a primary Fib number. When you take the progression of 1,1,2,3,5,8,13, 21, 34, etc, as it continues, if you divide the previous number by the last number in the progression, such as 21 divided by 34, the number continues to refine to what we use which is 61.8%, hence this is the "golden ratio" or a very primary number of Fibs. To answer your question Fibs are so effective that even ratio and reciprocals of actual Fib numbers are useful and relevant. Both 78.6 and 76.4 are such. If you take the sqare root of 1.618, which is a Fib extension, you get 1.272, another Fib extension number. The reciprocal of 1.272 is 78.6. In reference to 76.4 which I have found, generally speaking we see less frequently, it is derived when you multiply .618 x .382 = 23.6, which is also a number that is relevant and used with retracements, 1 - 23.6 is 76.4. Not to spark any controversy (everyone has their own preferences) but the numbers that I list on my retracements are 23.6%, 38.2%, 50%, 61.8%, 78.6%. Why do I personally choose these? Because using them makes money.
  • #1,715
  • Jan 15, 2007 1:03pm Jan 15, 2007 1:03pm
Quoting khaled22
before one month i think the rate of GBP was 3.75 , then they rise to 4.00 at that moment the GBP down may 250 pip , but in these day when they rise the rate to 4.25 the GBP up about 260 pip, so i am confused, can any one explain please ....
I believe 5.25 , interest rates is only a factor in forex. Many other factor that influence the price.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #1,716
  • Jan 15, 2007 1:04pm Jan 15, 2007 1:04pm
he he he.already enter it bro.time to ga to sleep for me.i'm currently listening to my chemical romance.happy trade then all.

Quoting notme32
Parlenker, if u not sure , then better wait...., the next candle or tomorrow...


Btw, SuK A LaG u ApP a ?
  • #1,717
  • Jan 15, 2007 1:06pm Jan 15, 2007 1:06pm
Not hat much to be honest.It's all just about inflation and Interest rate.that the center for me.

Quoting notme32
I believe 5.25 , interest rates is only a factor in forex. Many other factor that influence the price.
  • #1,718
  • Jan 15, 2007 1:15pm Jan 15, 2007 1:15pm
Quoting parlenk
he he he.already enter it bro.time to ga to sleep for me.i'm currently listening to my chemical romance.happy trade then all.
Good luck then coi, with u r position , i hope not one long and one short...heheheh. Me Too go to zzzzzzzzzzz.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #1,719
  • Jan 15, 2007 1:25pm Jan 15, 2007 1:25pm
Quoting notme32
I believe 5.25 , interest rates is only a factor in forex. Many other factor that influence the price.
thats your believe!!!!!!!!!!!!!!!!!!!!!!
we want to know why, don't what you are belive thanks
  • #1,720
  • Jan 15, 2007 1:28pm Jan 15, 2007 1:28pm
Fibo lesson

http://www.enthios.com/Lessons/Tradi...acciPrimer.htm

Quoting katzenhai2
I have an offtopic question:
Which one is the right fibo level: 76.4% or 78.6%?
With google I can find both!?
Trade what you see - Not what you think
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