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Daily Cable Analysis

  • #3,141
  • Edited 12:57am Jan 23, 2007 12:47am | Edited 12:57am
Quoting Leugimp
thats exactly how i felt on thanksgiving rally


I was smelling the sweet aroma of the baked pumpkin pie,and then I snuck into my office without my wife seeing me to look at the charts, I was just going to glance quickly at the computer to see what the "Dead Market" was doing, I turned back around, and looked to the dinner table, and sure enough that Turkey was gone.

I stood in "awe", I couldn't believe it, I was out of "whip cream", the "pie was gone", and the "turkey was running with the BULLS."

I never even chased that turkey, and sure enough I was deprived of that "great turkey feast."

It may happen again, but this time, I am going to "shoot that turkey out of the sky."
  • #3,142
  • Jan 23, 2007 12:53am Jan 23, 2007 12:53am
Quoting monarch

I was smelling the sweet aroma of the baked pumpkin pie,and then I snuck into my office without my wife seeing me to look at the charts, I was just going to glance quickly at the computer to see what the "Dead Market" was doing, I turned back around, and looked to the dinner table, and sure enough that Turkey was gone.

I stood in "awe", I couldn't believe it, I was out of "whip cream", the "pie was gone", and the "turkey was running with the BULLS."

I never even chased that turkey, and sure enough I was deprived of that "great turkey feast."

It may happen again, but this time, I am going to "shoot that turkey out of the sky."


I was just in awe, wating so long for a move like that and it was initiated the one day out of the year when all I want to do is eat good food, drink the drink and fall asleep to the thanksgiving day football game. Oh well, next year if the same occurs, i'll probably miss it again, but two years in a row and I may just give up the turkey day feast.
Man who scratches ass should not bite fingernails
  • #3,143
  • Jan 23, 2007 12:59am Jan 23, 2007 12:59am
Overall Im playing it short as well. I just dont know how much more gas this thing has. I will short it back to the central pivot of 9708 which is also my 50% fibo. Goodnight everyone.

Just to note that Eur Usd is going down as well. These two pairs seem to move together. Maybe tonight they will... ? I went short on both.
trading on demo is not trading
  • #3,144
  • Jan 23, 2007 1:02am Jan 23, 2007 1:02am
1.9774
  • #3,145
  • Jan 23, 2007 1:04am Jan 23, 2007 1:04am
Quoting enzo2325
Overall Im playing it short as well. I just dont know how much more gas this thing has. I will short it back to the central pivot of 9708 which is also my 50% fibo. Goodnight everyone.

Just to note that Eur Usd is going down as well. These two pairs seem to move together. Maybe tonight they will... ? I went short on both.
I think everytrader is waiting for a Short right now, the question is whether the Cable has "Short" in its vocabular.

Rest well - talk with you in the morning.
  • #3,146
  • Jan 23, 2007 1:11am Jan 23, 2007 1:11am
Quoting monarch
I think everytrader is waiting for a Short right now, the question is whether the Cable has "Short" in its vocabular.

Rest well - talk with you in the morning.
Hi my friend, i think now most of traders waiting for usd interested rate ...

now they worry if US Gov. change it from 5.25% to 5.00 or lower ...

but i think because of positive result for most of usd news and better economic will not change it... and great fall will open from that point
  • #3,147
  • Jan 23, 2007 1:16am Jan 23, 2007 1:16am
on 150 tick chart we have divergence confirmed with double top in key rsi range. at this moment in time, 38.2 serves as a nice rsi target to downside which right now would be 9746, coming in below pivot low of 9752. This is important because if it would reach this level on close, we will avoid the chance for positive reversal in the immediate short term and can expect some selling pressure to continue. However, if this target is not soon achieved than this price level in relation to rsi target will rise and the chances for a positive reversal in short term will become more likely. Being that this signal is off of a very short term 150 tick chart, I will favor the scenario for positive reversal and will exclude any short term scalping opportunities to the shortside for the moment.In fact as of right now, a close @ 9764 coupled with a reversal up would confirm a positive reversal.

Looks like I may have to extend myself for these ten pips today.
Man who scratches ass should not bite fingernails
  • #3,148
  • Jan 23, 2007 1:16am Jan 23, 2007 1:16am
Well before going to bed I calculated the new pivot points from the last 24 hours..

R2: 9837
M4: 9824
R1: 9810
M3: 9786

Pivot : 9762

M2: 9749
S1: 9735
M1: 9711
S2: 9687
trading on demo is not trading
  • #3,149
  • Jan 23, 2007 1:18am Jan 23, 2007 1:18am
Low so far 1.9773, with expectation of one more drop this hour.

Completed 1/2 of Goal #1, waiting for the low once again to gain 2nd half of Goal #1 for the Frankfurt strategy prior to the London Open 1st 5 Min Candle.
  • #3,150
  • Jan 23, 2007 1:20am Jan 23, 2007 1:20am
Quoting Leugimp
on 150 tick chart we have divergence confirmed with double top in key rsi range. at this moment in time, 38.2 serves as a nice rsi target to downside which right now would be 9746, coming in below pivot low of 9752. This is important because if it would reach this level on close, we will avoid the chance for positive reversal in the immediate short term and can expect some selling pressure to continue. However, if this target is not soon achieved than this price level in relation to rsi target will rise and the chances for a positive reversal in short term will become more likely. Being that this signal is off of a very short term 150 tick chart, I will favor the scenario for positive reversal and will exclude any short term scalping opportunities to the shortside for the moment.In fact as of right now, a close @ 9764 coupled with a reversal up would confirm a positive reversal.

Looks like I may have to extend myself for these ten pips today.
These are the numbers I am in expectation of right now, we may see them after the London jumps up, then makes its move downward toward these levels here in the next couple hours.

Take what you can get right now, there is little to go around with such small ranges.
  • #3,151
  • Jan 23, 2007 1:25am Jan 23, 2007 1:25am
This sounds like a gaming session. Hope everybody catches that dream turkey
  • #3,152
  • Jan 23, 2007 1:26am Jan 23, 2007 1:26am
I am looking for the 1.9771 as the Frankfurt Low, this would be the ideal entry for a Long (scalp) prior to the London Open.
  • #3,153
  • Jan 23, 2007 1:27am Jan 23, 2007 1:27am
Quoting Leugimp
on 150 tick chart we have divergence confirmed with double top in key rsi range. at this moment in time, 38.2 serves as a nice rsi target to downside which right now would be 9746, coming in below pivot low of 9752. This is important because if it would reach this level on close, we will avoid the chance for positive reversal in the immediate short term and can expect some selling pressure to continue. However, if this target is not soon achieved than this price level in relation to rsi target will rise and the chances for a positive reversal in short term will become more likely. Being that this signal is off of a very short term 150 tick chart, I will favor the scenario for positive reversal and will exclude any short term scalping opportunities to the shortside for the moment.In fact as of right now, a close @ 9764 coupled with a reversal up would confirm a positive reversal.

Looks like I may have to extend myself for these ten pips today.
Positive reversal as of right now will occur with a close in the range outlined in white above the pivot low(light blue line). Because the lower white line will serve as strong support, in order for a positive reversal to lose probability of occuring, we must reach this line on close before it creeps up above the light blue line. If it doesn't, then the chances for a strong move down in the immediate future look slim, and the chances for a move back above the recent high become much more probable.

Also, the PPCD"Bubble" indicator still has room to the upside so I will favor this retracement scenario followed by a move above the recent high for now.

This is a very narrow minded short term opinion, no other timeframes are considered here.

Just an opinion.
Attached Image
Man who scratches ass should not bite fingernails
  • #3,154
  • Jan 23, 2007 1:29am Jan 23, 2007 1:29am
Quoting moneyAA
This sounds like a gaming session. Hope everybody catches that dream turkey
My Avatar kinda looks like a turkey, does that count for something?

LOL

I will not enter a Long until the price drops below the 1.9773 low so far, price is going up right now, but I will patiently wait for it to come back to me for an entry point.

Just my observation, maybe I missed that turkey afterall.
  • #3,155
  • Jan 23, 2007 1:34am Jan 23, 2007 1:34am
Quoting monarch
My Avatar kinda looks like a turkey, does that count for something?

LOL

I will not enter a Long until the price drops below the 1.9773 low so far, price is going up right now, but I will patiently wait for it to come back to me for an entry point.

Just my observation, maybe I missed that turkey afterall.
Bullets are expensive these days, better to let the turkey come a bit closer before firing, ther will be many other turkeys in the future.
Man who scratches ass should not bite fingernails
  • #3,156
  • Jan 23, 2007 1:39am Jan 23, 2007 1:39am
Should be wave 5 starting to show itself, hopefully. Let's see further action.
Tra-X
  • #3,157
  • Jan 23, 2007 1:41am Jan 23, 2007 1:41am
Quoting Leugimp
Bullets are expensive these days, better to let the turkey come a bit closer before firing, ther will be many other turkeys in the future.
Had a long, closed with a conservative gain, then watched the turkey fly by my range, and set off without me again, better safe than sorry.

This is the stuff that use to eat my profits, chasing it and ending up losing on the trade.

I remain profitable for the day, but it sure is not fun watching this thing go up, getting ready to pull the plug here soon.

This may be what your seeing on your chart, the last push up, then the nice drop down.
  • #3,158
  • Jan 23, 2007 1:43am Jan 23, 2007 1:43am
I had the weekly High going up to 1.9819-25, there it is already on Monday.

This thing has wings, and there is no slowing it down.

1.9840-46 is the next stop this week for sure.
  • #3,159
  • Jan 23, 2007 1:45am Jan 23, 2007 1:45am
Wow...Hit my R1 9810 and M4 9825. You know I need to have more damn patience and just go with how I feel from the begining. They always say your first guess or gut feeling is the right one. If I would have gone with my gut feeling the last 3 times I was trading. I would of been well over 100's of pips. Im so pissed!! im Definately going to bed now.
trading on demo is not trading
  • #3,160
  • Jan 23, 2007 1:47am Jan 23, 2007 1:47am
believe it or not, that move was actually better for reversal conditions to materialize. It was a quick move at a time where stop hunting "seems" like the trend. Also this move shifted the lower rsi line of the range significantly to the downside giving us more time to reach our mark. if this ends up being a pin bar on 150 tick and the turn is confirmed, I may infact take this short trade.
Man who scratches ass should not bite fingernails
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