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Daily Cable Analysis

  • #2,221
  • Jan 17, 2007 9:23am Jan 17, 2007 9:23am
After staying out for 1 whole day, my trigger happy finger short a 957, hahaha looks like gonna have no sleep tonight.
Right teaching produces right believing leads to right living. - J.P
  • #2,222
  • Jan 17, 2007 9:23am Jan 17, 2007 9:23am
Quoting Geldmeister
on the daily chart 9695 hit a trendline connecting the highs from early Dec and early Jan; so we have seen the high already and it's down again from here. On the other hand if we decisively break than TL, cable may continue it's overall uptrend in a more convincing fashion.

On the 4h chart we have a flag forming and a bounce off the TL mentioned above could drop us back to low 96's and then up again with another assault to try get past 9700.
This trend line? (channel's upper)

http://i2.photobucket.com/albums/y28/cesarnc/jan-17.jpg
  • #2,223
  • Jan 17, 2007 9:25am Jan 17, 2007 9:25am
Quoting BANDA
Hi
I decided because yesterday high was 1.9706 .........todays high 1.9701 up to now ......... I am thinking just my opinion .........for today there will be not enough strength to appreciate soon London close

Sorry for my stupid reasoning

BANDA
Reasoning may be logical (or not) and you may reach a correct answer (or not) but I don't think reasoning can be "stupid", perhaps flawed but not "stupid". I think your comment on strength is correct because cable seems to be range bound today. Bid is 9697 as I write this, so I think this is a peak and should be sold for a 10-15 pip move short, where it will turn again and go long.

That's all cable's been doing the last couple of hours or so.
  • #2,224
  • Jan 17, 2007 9:30am Jan 17, 2007 9:30am
I'm looking to go short @ 1.9740 or sell on break of 1.9560 neither i think will happen 2day

turbo 2cents
  • #2,225
  • Jan 17, 2007 9:32am Jan 17, 2007 9:32am
Hi moneymaster
Thank you very much for your kind words. I have lost self-confidence as trading not working for me and lost my job so I think now whatever I do is wrong and try to be harsh on me.
Hope difficult periods will come to an end.
Hoping now for miracles


Banda




P.S you can see I loose as we speak -30 pips
BANDA333
  • #2,226
  • Jan 17, 2007 9:32am Jan 17, 2007 9:32am
Looking at the 30min and 1H, I see higher lows which typically indicates an uptrend. If the one hour candle can close above the TL, cable may have ended its ranging period. .9709 at the moment...
  • #2,227
  • Jan 17, 2007 9:34am Jan 17, 2007 9:34am
That's 100 pips for the day....opened at 9606...
  • #2,228
  • Jan 17, 2007 9:34am Jan 17, 2007 9:34am
My happy finger was just about to short @ 9691...

let's see if it holds 9700s...
  • #2,229
  • Jan 17, 2007 9:34am Jan 17, 2007 9:34am
Unless we're seeking a fakeout, it's all looking very bullish for GBP/USD at the moment. Momentum studies have turned bullish and the downtrend line has been penetrated. This all in spite of strong USD data. 1.9750 is strong resistance though.
  • #2,230
  • Jan 17, 2007 9:34am Jan 17, 2007 9:34am
9710 , i ll take short .......better than take long, just my thought.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #2,231
  • Jan 17, 2007 9:35am Jan 17, 2007 9:35am
now let's how strong next resistances are
Consistency and patience is everything
  • #2,232
  • Jan 17, 2007 9:35am Jan 17, 2007 9:35am
Quoting MoneyMa$ter
Looking at the 30min and 1H, I see higher lows which typically indicates an uptrend. If the one hour candle can close above the TL, cable may have ended its ranging period. .9709 at the moment...
#
HOW HIGH DO YOU THINK IT WIL GO TODAY?
mama
  • #2,233
  • Jan 17, 2007 9:42am Jan 17, 2007 9:42am
Sorry you guys jus tryin to relate the gbpjpy to Gbp/USD by it breaking resistances the GBP/USD has a very good chance of being BULLISH for another15-30pips FROM1.9690.My theory that i should have put out 15mins ago.
Quoting barakah
Pardon me, we are trying to keep this thread Cable, GBP/USD only. Thanks for understanding turn1to100
  • #2,234
  • Jan 17, 2007 9:42am Jan 17, 2007 9:42am
Quoting BANDA
Hi moneymaster
Thank you very much for your kind words. I have lost self-confidence as trading not working for me and lost my job so I think now whatever I do is wrong and try to be harsh on me.
Hope difficult periods will come to an end.
Hoping now for miracles
Banda
P.S you can see I loose as we speak -30 pips
Banda,

Miracles are good for short-term stop gap measures, but for daily life, you may want to rely on practical knowledge.

For example, watch price action... if it's ranging like today then you know you can scalp (buy bottoms and sell tops). You also know it MAY break out of its range depending on time of day and whether a market (London, US, Tokyo) is opening or closing. Patience will dictate your next action. In this example, you could patiently scalp until you see it break long or short. Given the higher lows for cable today, chances are it would break long, but you continue scalping until it does. Jump the break; then watch it return to ranging in that candle, until it breaks again (long or short).
  • #2,235
  • Jan 17, 2007 9:48am Jan 17, 2007 9:48am
Hi money
Thank you very much for your advice and insight. I am going to do what you told......!
Thankx again
Banda
BANDA333
  • #2,236
  • Jan 17, 2007 9:51am Jan 17, 2007 9:51am
Quoting Mama007
#
HOW HIGH DO YOU THINK IT WIL GO TODAY?
I look for cable to do 100 pips a day, although I know it averages around 125-140 pips daily. Since it just hit its 100 pips for today, you could look for the historical 125-140 but my expectations have been met.
  • #2,237
  • Jan 17, 2007 9:51am Jan 17, 2007 9:51am
I just finished reading the past 10 pages since I left just yesterday afternoon for a break, and to tell you the truth, 50% of it is absolutely noise.

This is the very thing that bothered me at the other thread use to use.

Noise.

I am glad for everyone coming, but we were trying to analyze the cable, not analyze your indidual trades.

If this is the type of Thread your wanting, then lets to open a thread -

"Lets Talk About My Position"

I have much better things to read and study, and I surely don't have time for everyone's "I think it is doing this" stuff.

I want to thank all of the members who have kept the thread on the subject, and there are many of you, Thanks for the Insight and continual efforts to make this thread one of the best.

At this juncture I feel there is not enough good to overide the flood of individuals who come just wanting to hang out and babble on.

Have great trading.... and we will see you once again!
  • #2,238
  • Jan 17, 2007 9:52am Jan 17, 2007 9:52am
9670 is 38 fib from today's move up.

9680 has played an important resistance. Let's see if it has turned to support now. Or, what will play support in case price don't retrace to 9670s of below, today.

Makes sense, please?
  • #2,239
  • Jan 17, 2007 9:58am Jan 17, 2007 9:58am
Quoting Geldmeister
on the daily chart 9695 hit a trendline connecting the highs from early Dec and early Jan; so we have seen the high already and it's down again from here. On the other hand if we decisively break than TL, cable may continue it's overall uptrend in a more convincing fashion.
Geldmeister,

At 9713, I'd say the TL is decisively broken! Higher lows confirming the uptrend. You looking at 9740??
  • #2,240
  • Jan 17, 2007 10:03am Jan 17, 2007 10:03am
There is a hell of a lot of crap in this thread like "short @ 967" or "what's cet in est?" or "how high will cable go today?" Posts like that are just a total waste of everyone's time.

If you don't have something worthwhile to post, don't post anything.

Cable seems comfortable above 1.97 right now so we can call the down trend dead. It's too early to say whether we're in a range or the start of a new up trend.
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