Daily Cable Analysis

Also we get more pips when trading the cable!

there you go.

Do we have a head and shoulders forming here? Any ideas?

On the grand spectrum of things, we had a High at 1.9846 and a Low at 1.9260.

This makes the retracement 61.8% level at 1.9622 which was breached upwards as of yesterday, this price has dropped below this mark today, and is currently straddling 1.9622 area.

I am running numbers on the Downward Fibo Levels, and also an Upwards Fibo leves for accuracy of direction.

We reached a High at 1.9702 and just now a Low at 1.9590.

The Fibo 61.8% Retracement for this move would be 1.9633, just completed at 1.9535.

Monarch,

I have a fibo running from 1.9261 to 1.9705

it hit my 23% retracement and bounced back up but its looking like it will retest that low since it passed it by 6 pips last time.

38.2% retracement is at 1.9535 this is my target

Daily High/Low...

High:1.9717 (10:30:06am CET) Low:1.9590 (04:39:09pm CET)

Also have a fibo running from 1.8848low to 1.9846 price now is hanging around th 23.6 fibo area of 9612

I am waiting for the Close of this Hour for the downward projections.

This is what I have for now.

The High was 1.9667 before the jump to 1.9702 which is 35 pips.

My Last Break Line was 1.9606 going into this setup.

The High went to 1.9667 which completed my upward movement Fibo extension, price stayed at 1.9667 for sometime, then jumped to 1.9702 today.

My Fibo Extension Calculations are as follows:

1.9667 61.8% Fib Extension (- minus) 1.9606 50% Fibo Extension = 61 pips.
61.8% of 61 pips = 38 pips.
Add 38 to 1.9667 (The Completed 61.8% Fibo Extension) = 1.9705
1.9705 would be the 61.8% Fibo Extension of the Upward Movement completed from the Low 1.9315 to the High 1.9667.

1.9622 Should act as a Resistance if the Upwards movement has completed.

Watch for a Break at 1.9606 (closed candle) before we see a Downward indication on the Hourly.

1.9601 we are another 23.6 fibo of mine...

This is what you have on your charts, I only seen 1.9702.

This is interesting, anyone else on the high you have?

monarchQuote:
Originally Posted by dswk http://forexfactory.com/images/buttons/viewpost.gif
Daily High/Low...

High:1.9717 (10:30:06am CET) Low:1.9590 (04:39:09pm CET)

This is what you have on your charts, I only seen 1.9702.

This is interesting, anyone else on the high you have?

I have 9705

9706 was my high and thats for NF

9705

The Hourly Chart is the one I am working with this week, but there are many Fibo's, support, and pivots on all time frames.

Retracement move down, I have several Targets.

Minimum Retracement Target 1.9590 (just reached this hour).

Maximum Retracement Target 1.9532.

The Hour just closed Candle at 1.9603, below the 1st break line 1.9606

yes, as i working directly at the bank... so... i expect get fresh tick and quotation.

This would actually complete the Fibo Extension to 1.9705 to the exact spot.

Hope these calculations of Fibo Extension help, it is just one more way to look at the price projection.

We are working a complete cycle of every Fibo, from the very beginning point of the High at 1.9846 Dec. 1st, 2006.

See you guys in 6 hours time, hopefully the market can wait till i wake up, . Happy pipping, may the pips be with you all.

Ok so when it clear 9601 fibo it should breach 1.9577

You should get a kickback, since your helping propel the Dollar into greater value.

1.9717, wow - that is 15 pips higher than my sell in point.

You could have the edge on us.

Thanks for the input.