Daily Cable Analysis | Page 211 | 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

  • #4,201
  • Jan 26, 2007 1:58am Jan 26, 2007 1:58am
2 minutes to go...hmm...hopefully it will go as expected...
I am just here to talk nonsense =D
  • #4,202
  • Jan 26, 2007 2:02am Jan 26, 2007 2:02am
well, new bar open below the line..hmmm....too bad...
I am just here to talk nonsense =D
  • #4,203
  • Jan 26, 2007 2:03am Jan 26, 2007 2:03am
Just what I expected to happen
  • #4,204
  • Edited 2:07am Jan 26, 2007 2:03am | Edited 2:07am
Frankfurt will test the 1.9679 area, and the London may take us up to the 1.9690-9700 area, then from there I expect a downward move to 1.9606 area that should hold for some time, price will channel between 1.9624 and 1.9580 and 1.9606 should be our market closing price at the end of the US Session.

This would set the Market Open around 1.9606 area next week.

Then a continuation downward to 1.9550 area before we hit a support level, then an upward movement would be in the forecast for the remainder of next week.

This is only an analysis - remember the Cable has a mind of its own, and the BOE does not tell me everything, only somethings.[/quote]


Correct RDRainey - we came right to 1.9679 during the Frankfurt Hour, and now we see if the London can push us up towards 1.9690-9700 before giving way to the downward once again.


The Low was 1.9649 the same as yesterdays Frankfurt Low.


The High during yesterday's Frankfurt was 1.9697, we did not make it that high today.


The High during the London Open went up and stopped at 1.9733 2 pips below the Previous Frankfurt Low at 1.9735


This is good indicator the High during the next few hours will be lower than the previous day, and we should see a nice downward move into the high 1.9500's if we can break 1.9606 this week.

Another thing to watch here is the Frankfurt Low right now.
1.9649 is our set line, if we break this line with a clear 5 minute candle closed without body or wick touching, guess what, we should be short of 1.9649 the remainder of the session, or there abouts for the next few hours.


  • #4,205
  • Jan 26, 2007 2:07am Jan 26, 2007 2:07am
Anyway,

Monarch, do you think that, I mean any possibility that once Cable manage to get over the 1.9666 and stay there long enough that it will then turn into a strong support line?

p/s: But it seems to be too strong to break through though...
I am just here to talk nonsense =D
  • #4,206
  • Jan 26, 2007 2:09am Jan 26, 2007 2:09am
What a move down

Nearly the same move done yesterday........do a bull trap first then back down fast.
  • #4,207
  • Jan 26, 2007 2:09am Jan 26, 2007 2:09am
1 minute left in this candle

Then 1 more 5 minute candle close to make sure there is not retracement up past our Low at 1.9649

This should test the 1.9624 mark, possibly 1.9613 area or even 1.9606 if we break this clear here in 6 minutes.
  • #4,208
  • Jan 26, 2007 2:14am Jan 26, 2007 2:14am
Quoting Zarul Shahrin
Anyway,
Quoting Zarul Shahrin

Monarch, do you think that, I mean any possibility that once Cable manage to get over the 1.9666 and stay there long enough that it will then turn into a strong support line?

p/s: But it seems to be too strong to break through though...


You mean under 1.9666?

I don't remember saying anything about this line, I was looking at 1.9580 for session low, and possibly back up to 1.9606 for the close of market.

Can you explain to me?
  • #4,209
  • Jan 26, 2007 2:17am Jan 26, 2007 2:17am
New low...... for g/u

Taken out the support @ 1.9630

That was fast.
  • #4,210
  • Jan 26, 2007 2:17am Jan 26, 2007 2:17am
Nvm, the price has gone too far below, that it will probably heading to 1.9587 right now.....
I am just here to talk nonsense =D
  • #4,211
  • Jan 26, 2007 2:23am Jan 26, 2007 2:23am
I would have scalped the move right at the close of the clear candle below 1.9649, Candle opened at 1.9634 and went to 1.9618 below the previous low today at 1.9624

I would have exited there, the wait for the price to come up to 1.9634 where it will test once again, and short again for the ride to 1.9606.

Possible to retest the 1.9649 before making the downward move once again 1.9618/13

But I am not trading, Against my goals and strategy.
  • #4,212
  • Edited 2:34am Jan 26, 2007 2:32am | Edited 2:34am
Low 1.9260
High 1.9914
Total 654 / 2 = 327

1.9914 - 327 = 1.9587

That is one reason I see this number this week, there are several other calculations I am watching also.

This is the actual movement I expect for the remainder of the week, but I could be wrong.

Frankfurt will test the 1.9679 area, and the London may take us up to the 1.9690-9700 area, then from there I expect a downward move to 1.9606 area that should hold for some time, price will channel between 1.9624 and 1.9580 and 1.9606 should be our market closing price at the end of the US Session.

This would set the Market Open around 1.9606 area next week.

Then a continuation downward to 1.9550 area before we hit a support level, then an upward movement would be in the forecast for the remainder of next week.

This is only an analysis - remember the Cable has a mind of its own, and the BOE does not tell me everything, only somethings.[/quote]

So far since the Frankfurt reached the 1.9679, we have seen a nice drop off down to 1.9615, price should struggle here around 1.9613 before is is allowed to go to 1.9606. This was a strong resistance when the price fought this mark on the 12th of Jan for some time, it hung around this area for a while before making its jump past it.

Then on the 16th 1.9606 became the support.


1.9613 was just reached, quicker than I thought, lets see if it will attack this mark and go toward 1.9606.


There should be a good scrapping going on at 1.9606, can't wait to watch the battle.
  • #4,213
  • Jan 26, 2007 2:32am Jan 26, 2007 2:32am
Wave 5 downwards is prolly finishing imo or 1 more downspike left.
Tra-X
  • #4,214
  • Jan 26, 2007 2:36am Jan 26, 2007 2:36am
Quoting monarch
I would have scalped the move right at the close of the clear candle below 1.9649, Candle opened at 1.9634 and went to 1.9618 below the previous low today at 1.9624

I would have exited there, the wait for the price to come up to 1.9634 where it will test once again, and short again for the ride to 1.9606.

Possible to retest the 1.9649 before making the downward move once again 1.9618/13

But I am not trading, Against my goals and strategy.
thanks monarch for the info, could you please tell what is that 9606 level? is that fib or ema? thanks because i could t find what is the interest of that point, thanks
  • #4,215
  • Jan 26, 2007 2:40am Jan 26, 2007 2:40am
You just gave me a free lesson better than thousands of forex books can provide me I guess....Thanks!
I am just here to talk nonsense =D
  • #4,216
  • Jan 26, 2007 2:49am Jan 26, 2007 2:49am
Quoting mohsen57
thanks monarch for the info, could you please tell what is that 9606 level? is that fib or ema? thanks because i could t find what is the interest of that point, thanks
Probably the reason most numbers stick out like this one - is because I remember it very much. We have seen it on everytime frame since November 30th. Just because some web site, or a chart doesn't say something, that does not mean there is not something there.

This is why I analyze the Cable only. I don't even look at another currency, I really don't care if the EUR is doing something else, I learn all I can by sitting in front of the Cable Charts for over 10 hours a day at the least.

Sleep usually consist of 4 hours a night during the market time, I only sleep in on Saturday for 9 hours.

Learn every move, remember every point, get a feel for the characteristics of this thing, then when your ready to enter a position you can succeed.
  • #4,217
  • Jan 26, 2007 2:54am Jan 26, 2007 2:54am
Quoting monarch
Probably the reason most numbers stick out like this one - is because I remember it very much. We have seen it on everytime frame since November 30th. Just because some web site, or a chart doesn't say something, that does not mean there is not something there.

This is why I analyze the Cable only. I don't even look at another currency, I really don't care if the EUR is doing something else, I learn all I can by sitting in front of the Cable Charts for over 10 hours a day at the least.

Sleep usually consist of 4 hours a night during the market time, I only sleep in on Saturday for 9 hours.

Learn every move, remember every point, get a feel for the characteristics of this thing, then when your ready to enter a position you can succeed.

thank you monarch, great explanation, many thanks.
so this is magic number that you have seen many times before, i understand, i hope you will always be here and help us all newbie here, thanks
  • #4,218
  • Jan 26, 2007 2:56am Jan 26, 2007 2:56am
Quoting Zarul Shahrin
You just gave me a free lesson better than thousands of forex books can provide me I guess....Thanks!
To be honest, I have only read one book on the stocks/forex. It was a great book, but I learn by watching others, and learn what they say and do. I then incorporate their thoughts into mine, work it over, then use what is the best for me.

This learning has not come cheap, believe me, I know how to spend pips on losses, and I have burned a few accounts in my time trying new strategies.

This is the reason I only trade 1 maybe 2 times a day, and I don't stay for long. I could be raking in mega pips, I know when to get in and when to get out, but I prefer studying 99% of the time and trading 1% of the time.

High 1.9671 Close 5 Min Candle Frankfurt
Low 1.9613

Fibo retrace 61.8 % is 1.9649, the same as the Frankfurt low.

This is why I said if I was scalping I would wait for the price to come back to 1.9649 for a short from there. I seen the 1.9613 mark, calculated it before it hit there, and now I would be ready to short from 1.9649, or Long from 1.9613 to 1.9633.

50% Fibo would be 1.9642 (completed now)
38.2% Fibo is 1.9635 (completed now)

Many opportunities to make pips.
  • #4,219
  • Jan 26, 2007 2:57am Jan 26, 2007 2:57am
Monarch, can you please tell me how you approach with news event with your analysis and trades, news like NFP or big news, or you may simply ignore them? thank you again
  • #4,220
  • Jan 26, 2007 2:58am Jan 26, 2007 2:58am
Quoting mohsen57
thank you monarch, great explanation, many thanks.
so this is magic number that you have seen many times before, i understand, i hope you will always be here and help us all newbie here, thanks
At what stage/years trading does a person leave the Title Newbie?

Chime in everyone..........
12 traders viewing now