Daily Cable Analysis | Page 169 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Is it just me or is cable acting random? 49 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

CABLE Centurion 16 replies

Cable: Measuring Fibonacci From Where ? 29 replies

Attachments: Daily Cable Analysis
Exit Attachments

Daily Cable Analysis

  • #3,361
  • Jan 23, 2007 1:49pm Jan 23, 2007 1:49pm
Quoting Leugimp
Bubble extreme hit to low side and reversal confirmed with positive reversal forming on 400 tick.
Quoting Leugimp

Long @9827 looking for move on intial tp to 9867.


1.9827 is an ideal entry since the proximety of a completed retracement setup (Fibo projection upwards setup, not the retrace from the high), and this point is still above my London Open price.

I took a Long at 1.9824, which was my Fibo Level indication price for entry.

I also will wait for one more move down to the 1.9812-13 for a double bottom to enter a second lot Long for the expeceted movement towards your 1.9867, I may play it on the conservative and release one Lot near 1.9850 area.

Then let the lower entry position from 1.9812-13 (if it triggers) ride along to a higher level.
  • #3,362
  • Jan 23, 2007 1:55pm Jan 23, 2007 1:55pm
Quoting monarch

1.9827 is an ideal entry since the proximety of a completed retracement setup (Fibo projection upwards setup, not the retrace from the high), and this point is still above my London Open price.

I took a Long at 1.9824, which was my Fibo Level indication price for entry.

I also will wait for one more move down to the 1.9812-13 for a double bottom to enter a second lot Long for the expeceted movement towards your 1.9867, I may play it on the conservative and release one Lot near 1.9850 area.

Then let the lower entry position from 1.9812-13 (if it triggers) ride along to a higher level.
Due to the time of day i'm contemplating a similar strategy as well, take my ten pips early and let the rest fly.
Man who scratches ass should not bite fingernails
  • #3,363
  • Jan 23, 2007 1:59pm Jan 23, 2007 1:59pm
Thanks for that Monarch. The reason I asked was because I'd drawn Fibs from yesterday's low and today's high. So far the retracements on this reach the 50% area but not 61.8% as on yours. I'm going to take a deeper look at Fibs. Thanks again, strada.
  • #3,364
  • Jan 23, 2007 2:07pm Jan 23, 2007 2:07pm
Quoting strada
Thanks for that Monarch. The reason I asked was because I'd drawn Fibs from yesterday's low and today's high. So far the retracements on this reach the 50% area but not 61.8% as on yours. I'm going to take a deeper look at Fibs. Thanks again, strada.
Can you give me your High and Low numbers, I would like to see what your looking at.

Thanks.
  • #3,365
  • Jan 23, 2007 2:22pm Jan 23, 2007 2:22pm
Low - 19718 (yesterdays low); High - 19916 (today's high).
  • #3,366
  • Jan 23, 2007 2:56pm Jan 23, 2007 2:56pm
The New York session is closing only 10-20 pips higher than the London session began - not exactly positive for Cable. Today's move looks like an exhaustion spike. "Everyone" knows Cable is going up and "everyone" is always wrong.
  • #3,367
  • Jan 23, 2007 3:13pm Jan 23, 2007 3:13pm
Quoting notouch
The New York session is closing only 10-20 pips higher than the London session began - not exactly positive for Cable. Today's move looks like an exhaustion spike. "Everyone" knows Cable is going up and "everyone" is always wrong.

but i think now most of trader waiting for downward ....
  • #3,368
  • Jan 23, 2007 3:15pm Jan 23, 2007 3:15pm
Quoting notouch
The New York session is closing only 10-20 pips higher than the London session began - not exactly positive for Cable. Today's move looks like an exhaustion spike. "Everyone" knows Cable is going up and "everyone" is always wrong.

Just like "everyone" went short around 1.9840. in hindsight market was not as random as it looked in real time and was very painful to the average speculator.
I'm trying to figure out if this was an exhaustion rally or not. First thing that troubles me is the retracement seen was very systematic. Second is the strength of gbp/yen. This is showing NO signs of retracing for now (which is when it will start? lol) The break of 241 and upcoming close here is most bullish for "the beast". The dynamics of the market today were based on the dollar. There were significant periods where the usd/yen was dormant. It was the GBP/USD that moved "the beast", not vice versa. This is also troubling as it has been the other way around almost always in the new year. The weak yen and "carry trade" has been in full effect.

Lots of factors swirling around and no clear answer.

Based on my interpretation, the best opinion I can form is continued strength for the gbp.usd, but with continued two way flows. BUT, each new trading day brings new dynamics to analyze and new challenges to overcome.

A final observation is the levels and volatility across the board. Currencies and commodities are breaking thru all sorts of price levels currently. I am not making contra trading decisions on historical price levels. These are getting blasted across the board and are probably costing specs alot of $$$.

good trades
  • #3,369
  • Jan 23, 2007 3:34pm Jan 23, 2007 3:34pm
it kiss 1.9804

any idea?
  • #3,370
  • Jan 23, 2007 3:43pm Jan 23, 2007 3:43pm
Quoting viking
it kiss 1.9804

any idea?
It - is - un-be-lie-vable
  • #3,371
  • Jan 23, 2007 3:48pm Jan 23, 2007 3:48pm
Time to set-up an happy long ride ?
  • #3,372
  • Jan 23, 2007 3:51pm Jan 23, 2007 3:51pm
Quoting viking
it kiss 1.9804

any idea?
Yes, it kissed 1.9804 because this was exactly the lowest level registered on the first 5min. candle after London opened this morning @08.00 GMT. very interesting ... now it looks like a support level as we are heading up from here.
  • #3,373
  • Jan 23, 2007 4:04pm Jan 23, 2007 4:04pm
I'm not taking ANYTHING for granted after this rush. I'll override the Asian session and be back by FRA/LON open.
  • #3,374
  • Jan 23, 2007 4:15pm Jan 23, 2007 4:15pm
It's closing near its lows so it's much more likely to break out on the downside than the upside in the Asian and European sessions. Today's low of 1.9775 is the first target. I wonder how many stops there are below that.
  • #3,375
  • Jan 23, 2007 4:31pm Jan 23, 2007 4:31pm
Want to see something interesting? Pull up a one hour chart starting with the London opening today and look at the formation. All green on one side and all red on the other. Has anyone ever seen this type of formation of bull and bear candles before?
  • #3,376
  • Jan 23, 2007 4:34pm Jan 23, 2007 4:34pm
Something interesting.

EDIT: Just an observation arrow only a possibility. H&S is a reversal pattern. thanks
Attached Image
  • #3,377
  • Jan 23, 2007 4:57pm Jan 23, 2007 4:57pm
Another thought is how the market will react to the impending test on $2..

If your charts go back far enough see how the market reacted to euro dollar parity test. It went like this..test bounce test bounce..lather rinse repeat..lol

Don't be fooled that the bounce is anything but that. It's a finger in the dyke. someone desperately trying to hold off an option barrier probably. If and when it tests that level it will eventually go past. All in my opinion of course.

Can't wait for it tho
  • #3,378
  • Jan 23, 2007 4:59pm Jan 23, 2007 4:59pm
Quoting notouch
It's closing near its lows so it's much more likely to break out on the downside than the upside in the Asian and European sessions. Today's low of 1.9775 is the first target. I wonder how many stops there are below that.
Those stops would be excellent fuel for the fall too notouch. However, also notice that the dollar vs franc and the dollar vs euro have not retraced as aggressively at this point. This leaves me watching the reaction to the GBP economic releases with much interest in the European session tommorow a.m..

I will be watching these other pairs in relation to thier respective consoldation trading ranges to decided if we have a new directional bias.
Profit is where readiness meets Opportunity
  • #3,379
  • Jan 23, 2007 5:23pm Jan 23, 2007 5:23pm
I think this week is last chance for GBP to touch 1.2000 ...

tomorrow we have 2 hot news : GDP and BOE Meeting Minutes (GBP)

lets see what will happend
  • #3,380
  • Jan 23, 2007 5:28pm Jan 23, 2007 5:28pm
in 2.5 hours later maybe market will change or go more down ...

because bush speech ....
" some economic changes Bush is expected to announce. "
0 traders viewing now