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Daily Cable Analysis

  • #2,421
  • Jan 18, 2007 1:41am Jan 18, 2007 1:41am
Should move up to 9820- high of 12/5/06 - At that point I expect price to bounce back hard before resuming up so will set my sell orders near that level.
Man who scratches ass should not bite fingernails
  • #2,422
  • Jan 18, 2007 1:42am Jan 18, 2007 1:42am
Trading breakout of 9750 is good idea - if for anything else quick pips
Man who scratches ass should not bite fingernails
  • #2,423
  • Jan 18, 2007 1:43am Jan 18, 2007 1:43am
You are the man!

Quoting Leugimp
Trading breakout of 9750 is good idea - if for anything else quick pips
  • #2,424
  • Jan 18, 2007 1:47am Jan 18, 2007 1:47am
Let us break the resistance, come on guys, load your weapon and ready to fire out...go go go! $$$ is waiting up there... Don't give up..Let's break the resistance and make money...
I am just here to talk nonsense =D
  • #2,425
  • Jan 18, 2007 1:50am Jan 18, 2007 1:50am
In the last 2 attempts (daily chart) buyer failed to get past the 1.9750 line..I wish this time it will break through...


p/s: I am placing my bet on it...
I am just here to talk nonsense =D
  • #2,426
  • Jan 18, 2007 1:53am Jan 18, 2007 1:53am
stops on a buy at 9650 should be at 9610 with 30 pip trailing.

9610 is just below trendline support which should hold.

I would post a pic but i don't know how to make it look readable
It might be helpful for new traders to see what is said.
  • #2,427
  • Jan 18, 2007 2:02am Jan 18, 2007 2:02am
Its only been to this level at the points marked (a)
Attached Image
  • #2,428
  • Jan 18, 2007 2:03am Jan 18, 2007 2:03am
It is possible that cable will go up from the 9750 area, however this is not certain. For one thing, cable has been having a very hard time getting past the resistance at this level. Another thing which is concerning is that swissie and UJ usually trend in the opposite direction from cable and fiber and both are very convincingly climbing, particularly UJ because of the yen rate decision. Before entering a long trade I would want to see this area amply cleared.
  • #2,429
  • Jan 18, 2007 2:05am Jan 18, 2007 2:05am
It is broken guys...
  • #2,430
  • Jan 18, 2007 2:06am Jan 18, 2007 2:06am
Notice on the above chart where the daily pin a couple of days never panned out. Both the Euro and Chf had pin bars and they went the opposite direction too. Even though daily charts are the best indicator it is still necesary to get the break (confirmation) on the lower frames. Just a point of interest.
  • #2,431
  • Jan 18, 2007 2:08am Jan 18, 2007 2:08am
Did anybody placed a Buy @ 1.9775?
  • #2,432
  • Jan 18, 2007 2:11am Jan 18, 2007 2:11am
captured a fast 10 pips from the break up... Reloading my gun for a move up
I am just here to talk nonsense =D
  • #2,433
  • Jan 18, 2007 2:12am Jan 18, 2007 2:12am
Quoting iiivb
Did anybody placed a Buy @ 1.9775?
The question is, did you?
"Anything in life worth having, doesn't come easy."
  • #2,434
  • Jan 18, 2007 2:13am Jan 18, 2007 2:13am
Yes I did... but I am long since 1.9616... +150 pips now...
  • #2,435
  • Jan 18, 2007 2:17am Jan 18, 2007 2:17am
Quoting iiivb
Yes I did... but I am long since 1.9616... +150 pips now...
Nice!! I'm still in the beginning stages of trading with real cash, so once i get 50 pips or even a couple and the price starts a retracement... i FREAK out and close my positions. I'm trying to work on that . But to answer your question i did go long, only because thats what my breakout strategy said to do. Ive got a T/P of 9785
"Anything in life worth having, doesn't come easy."
  • #2,436
  • Jan 18, 2007 2:17am Jan 18, 2007 2:17am
Has anyone noticed the GBP/JPY?? It is flying like a bat out of hell. It has gone up almost 300 pips in the last 7 hours!!

Damn!!
  • #2,437
  • Jan 18, 2007 2:20am Jan 18, 2007 2:20am
Well, Do you guys think we can break through 2.0 this time? or perhaps after this, it will be all year down as someone said earlier...
I am just here to talk nonsense =D
  • #2,438
  • Jan 18, 2007 2:20am Jan 18, 2007 2:20am
Quoting southernmind
Has anyone noticed the GBP/JPY?? It is flying like a bat out of hell. It has gone up almost 300 pips in the last 7 hours!!

Damn!!
hell yeah!

The reason is BOJ was expected to hike today (at least by some) but they did not.
  • #2,439
  • Jan 18, 2007 2:21am Jan 18, 2007 2:21am
yes the carry trade on GBPJPY is alive and well. Should break 240 and from there, whow knows...
TRADE FOR SWAP
  • #2,440
  • Jan 18, 2007 2:21am Jan 18, 2007 2:21am
I have 1 year and 3 months trading. I know what you mean. I used to freak out too when I saw a profit and suddenly a small bounce. I solved that leaving the computer ALONE! I found that gave me more profits and LESS stress...

I am glad you are long, I hope you make your profit... but... STAY AWAY OF THE COMPUTER... let the stop-loss and limits do their job...

In other topics, does somebody know why monarch left guiding this thread?

Quoting YupYup
Nice!! I'm still in the beginning stages of trading with real cash, so once i get 50 pips or even a couple and the price starts a retracement... i FREAK out and close my positions. I'm trying to work on that . But to answer your question i did go long, only because thats what my breakout strategy said to do. Ive got a T/P of 9785
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