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Daily Cable Analysis

  • #3,421
  • Jan 24, 2007 1:19am Jan 24, 2007 1:19am
We should come to the 250 EMA at 1.9790 during the Frankfurt Hour and the 1st 5 Minute Candle of the London Open.

This would be my exit on Part 1 of Goal #1.

Part 3 of Goal #1 Still waiting for Long at 1.9769 or below. Should come down to this in 15-20 minutes, if it does not drop below 1.9769 by, I don't think it will for this hour.
  • #3,422
  • Jan 24, 2007 1:21am Jan 24, 2007 1:21am
a close on 1600 tick above 9771 - rsi50, although not necessary, would also add some weight to the case for a move up to double top - 800 ticks left.
Man who scratches ass should not bite fingernails
  • #3,423
  • Jan 24, 2007 1:22am Jan 24, 2007 1:22am
For believers in confluence, the 61.8 fib of the move from yesterday's high to today's low is the same as today's pivot point - just above 1.9850. We may need to visit there before a bigger down move.
  • #3,424
  • Jan 24, 2007 1:24am Jan 24, 2007 1:24am
Quoting southernmind
BUY OR SELL?

Either way is like stepping in front of a train
  • #3,425
  • Jan 24, 2007 1:25am Jan 24, 2007 1:25am
Quoting notouch
For believers in confluence, the 61.8 fib of the move from yesterday's high to today's low is the same as today's pivot point - just above 1.9850. We may need to visit there before a bigger down move.
I am in a trade strategy right now, but this information helps, now I will not have to go looking, you have answered my next step for me.

Thanks NoTouch, it is appreciated.
  • #3,426
  • Jan 24, 2007 1:27am Jan 24, 2007 1:27am
Quoting notouch
For believers in confluence, the 61.8 fib of the move from yesterday's high to today's low is the same as today's pivot point - just above 1.9850. We may need to visit there before a bigger down move.

interesting thought, thank you will check it out
Man who scratches ass should not bite fingernails
  • #3,427
  • Jan 24, 2007 1:29am Jan 24, 2007 1:29am
Quoting monarch
We should come to the 250 EMA at 1.9790 during the Frankfurt Hour and the 1st 5 Minute Candle of the London Open.
Quoting monarch

This would be my exit on Part 1 of Goal #1.

Part 3 of Goal #1 Still waiting for Long at 1.9769 or below. Should come down to this in 15-20 minutes, if it does not drop below 1.9769 by, I don't think it will for this hour.


Entry at 1.9757 for the 3rd and final stage of Goal #1

Will wait for exit candle at London open 5 Minute.
  • #3,428
  • Jan 24, 2007 1:31am Jan 24, 2007 1:31am
Quoting notouch
For believers in confluence, the 61.8 fib of the move from yesterday's high to today's low is the same as today's pivot point - just above 1.9850. We may need to visit there before a bigger down move.
Yes maybe after the GDP and Minutes for the Cable we might see that 61.8 fibo at 1.9855
  • #3,429
  • Jan 24, 2007 1:34am Jan 24, 2007 1:34am
Trying to break at 9755.
  • #3,430
  • Jan 24, 2007 1:36am Jan 24, 2007 1:36am
Actually today's pivot is slightly lower - about 1.9830 depending on what time you use as your close. This matches the 50 fib and also some swing highs of the down move. I personally don't see it getting that high unless there is a big surprise at 0930 GMT.
  • #3,431
  • Jan 24, 2007 1:39am Jan 24, 2007 1:39am
1.9815 is the 250 EMA, I am looking to see a test here, then will be watching to see if it bounces and remains in the downward move, or if we will breach line and test the Fibo 61.8% at 1.9850 as NoTouch posted.

1.9755 is the Frankfurt Low so far, it has held support this Hour so far.
  • #3,432
  • Jan 24, 2007 1:46am Jan 24, 2007 1:46am
we have a mean of this cluster at 97.67
looking for an up and then a test of this after 0800 gmt ish
  • #3,433
  • Jan 24, 2007 1:51am Jan 24, 2007 1:51am
WOWW.... is anybody looking at GBP/JPY ?
  • #3,434
  • Jan 24, 2007 1:53am Jan 24, 2007 1:53am
The Frankfurt Low is 1.9744 now. Revised 1.9734 (looking at 1.9722 once again?)

Exit Part 1 and Part 3 of Goal #1 at 1.9754. This indicated that price was dropping lower.
  • #3,435
  • Jan 24, 2007 1:56am Jan 24, 2007 1:56am
Quoting gico
WOWW.... is anybody looking at GBP/JPY ?
200 pips down in an hour - impressive. The pound is overvalued across the board and is coming down big time.
  • #3,436
  • Jan 24, 2007 1:57am Jan 24, 2007 1:57am
Quoting jsh01
we have a mean of this cluster at 97.67
looking for an up and then a test of this after 0800 gmt ish
I had the Low at 1.9735 then the 5 minute closed above the 1.9737 a previous mark on my charts.

Placed a Long at 1.9736 for the London Open 5 Min. Candle.
  • #3,437
  • Jan 24, 2007 2:07am Jan 24, 2007 2:07am
Quoting monarch
I had the Low at 1.9735 then the 5 minute closed above the 1.9737 a previous mark on my charts.

Placed a Long at 1.9736 for the London Open 5 Min. Candle.
May I know, why did u go long?
  • #3,438
  • Jan 24, 2007 2:09am Jan 24, 2007 2:09am
Got this from somewhere

On a positive note to conclude this review, a trader from JP Morgan lost $218 million today on a speculative trade on the GBP/USD. Bank of China dumped the pounds earlier today during the UK session, then JP Morgan followed the lead. Then a big Middle Eastern bank bought a bunch of pounds, and reversed the direction, and caused a very big loss to JP Morgan.

I hope that trader that lost so much didn't lose his job... I am sure you won't hear about this on the news, but the loss could be seen by one of my friends on the interbank feed in the order flows. Why is it a positive note? Well...apparently bank traders lose money too once in a while. And if you broke even today, or had a small loss, I hope it wasn't as much as $218 million, and you should be happy
  • #3,439
  • Jan 24, 2007 2:13am Jan 24, 2007 2:13am
well done...i hate stupid speculator who produce nothing in society...find real job ...go work somewhere in shop!...
  • #3,440
  • Jan 24, 2007 2:16am Jan 24, 2007 2:16am
Quoting c1ro
May I know, why did u go long?
I am trading one type of strategy this week, and by my perimeters, I am still in Long position indication. This remains Long until the candle closes below on the 5 minute with no body or wick touching 1.9735. At that point I will be in Short position.

This is a trade test of my strategy that I will continue until the remainder of the Month. I am using real (mini) lots during this strategy, and keeping a record of each movement during the Frankfurt and London Opens for a in depth study I am researching.

I will only make entry and exit based upon my perimeters, and only by them, even if there is loss during the trade.

The price just went to 1.9733, waiting for a closed candle on the next 5 minute to clear complete. Then I will exit my long and enter a short.

Same as last night, the price broke above the Frankfurt and London 5 minute open price, and went Long. Just testing each side.
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