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Daily Cable Analysis

  • #4,601
  • Jan 29, 2007 7:58pm Jan 29, 2007 7:58pm
Nice little Move, considing how slow monday was, shame I missed it


Congrat's people
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #4,602
  • Jan 29, 2007 8:27pm Jan 29, 2007 8:27pm
me too i shorted at 43
  • #4,603
  • Jan 29, 2007 8:40pm Jan 29, 2007 8:40pm
Think you guys are against the Trend here, don't get greedy.

Breaks the 120min SMA though and you've got a good shot of 1.9600 area.



Fav Long though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #4,604
  • Jan 29, 2007 8:56pm Jan 29, 2007 8:56pm
I see that finally the retracement has kicked in. Now if we look at fibo for wave 1 (or A) 1.9915 to 1.9556, 23.6% is at 1.9641; first target was already hit. 38.2% is at 1.9693. Good luck.
Tra-X
  • #4,605
  • Jan 29, 2007 9:05pm Jan 29, 2007 9:05pm
My shorting level will be at 9700. I think we may get there today. if we could close on 1600 tick above 9620(700 ticks to go) I think high 9600s low 9700s will be in the cards today for the pound.
Man who scratches ass should not bite fingernails
  • #4,606
  • Jan 29, 2007 9:12pm Jan 29, 2007 9:12pm
Quoting Leugimp
Perhaps it is, but not so quick, until we can break below the 9550 level on close, at least for January, this trend is still up. We must start differentiating trend from direction. While we may have seen a strong directional move from the recent high, the trend is still up in most daily and above based terms.

Thus, I would have to say that your channel will soon be breached on close, and although this breaching may pose itself as a retracement only, for now my immediate short term directional bias is to the upside.

I have these trendlines on the dailys going back, I zoomed out to the monthly to get a better view. We are currently resting atop the upper TL. January has been an outside bar, however, the low for the month(1.9259) is to the pip right on the old resistance turned support line from feb 2005 monthly high
(red dots). We reached a new high, albeit on waning momentum, but price on monthly close still remains above the upper TL. The stage is set, while I see a retracement up to the 9650 level in the immediate future, this may act as a good selling area, in line with the recent bearish directional move. Ultimately though, my opinions will solidify on wednesday, the last day of the month with all of that market moving news to see if we close the month above or below this critical trendline.

Nice work on your analysis.

I am glad that I trade with the color of the candle.

Please notice how the price crossed below and back above the midpoint of the range in my original post - that was my clue to exit and reverse.

This is the current chart.


http://img15.imgspot.com/u/07/28/23/...1170129948.jpg
"Even a 100 pip profit begins with the first pip."
  • #4,607
  • Jan 29, 2007 9:14pm Jan 29, 2007 9:14pm
any body know about any bad effect on cable this day may caused by news???
  • #4,608
  • Jan 29, 2007 10:16pm Jan 29, 2007 10:16pm
Just a reminder of announcement at 2am EST for housing index
  • #4,609
  • Jan 30, 2007 1:21am Jan 30, 2007 1:21am
What happen to this thread, are the traders still trade? Sir monarch we need your analysis
  • #4,610
  • Jan 30, 2007 1:31am Jan 30, 2007 1:31am
Well, Price is bouncing off the ema on my 60 min chart of 9657.
It took me out with another profit. A break above this will indicate that we are going for the pivot of 9683 or the 38.2% fibo 9693.

Got my longs set. Good luck everyone and good night.
trading on demo is not trading
  • #4,611
  • Jan 30, 2007 1:41am Jan 30, 2007 1:41am
good morning to all, ....have u slept good,...so it went up , ....yes, next time we should or at least i will increase the margin....why arent we pivoting at the devils number ?...
its just money
  • #4,612
  • Jan 30, 2007 1:45am Jan 30, 2007 1:45am
Subwave C (just my opinion) of this corrective wave might end anytime from now on. Now @1.9670.
Tra-X
  • #4,613
  • Jan 30, 2007 1:53am Jan 30, 2007 1:53am
total of +65 pips

9687 and 9693 are still in target. Maybe from there we might see a turnaround.
trading on demo is not trading
  • #4,614
  • Jan 30, 2007 1:56am Jan 30, 2007 1:56am
i agree,...we should be looking to go short, we got several good news for dollar if i remember right....where should we place stops, 1.9720 was the wall from last week, maybe we should place it above that beautifull number....
its just money
  • #4,615
  • Jan 30, 2007 2:15am Jan 30, 2007 2:15am
Quoting de123
i agree,...we should be looking to go short, we got several good news for dollar if i remember right....where should we place stops, 1.9720 was the wall from last week, maybe we should place it above that beautifull number....
News for tomorrow...

Strange is that EUR was quite and USDJPY was going up WITH Cable... I don't like days that starts wierd...
  • #4,616
  • Jan 30, 2007 2:19am Jan 30, 2007 2:19am
Quoting cesarnc
News for tomorrow...

Strange is that EUR was quite and USDJPY was going up WITH Cable... I don't like days that starts wierd...

It looks like the major catalyst for the move up was due to the surge in the GBP/JPY, which then pulled both the GBP/USD and the USD/JPY up. At least that's what it looks like to me.

edit: It does make trading the majors more difficult when their price action is dictated by the exotic crosses.
  • #4,617
  • Jan 30, 2007 2:25am Jan 30, 2007 2:25am
Quoting rdrainey
It looks like the major catalyst for the move up was due to the surge in the GBP/JPY, which then pulled both the GBP/USD and the USD/JPY up. At least that's what it looks like to me.

edit: It does make trading the majors more difficult when their price action is dictated by the exotic crosses.
Yeah GBP/JPY topped 240. If it breaks, goodbye...
  • #4,618
  • Jan 30, 2007 2:29am Jan 30, 2007 2:29am
many weird things happen in the market, i am not suprised for usd/jpy, ....and i wont be suprised if gbp/jpy went down, usd/jpy up, and cable down,....and the euro pivoting @ 1.2920...
its just money
  • #4,619
  • Jan 30, 2007 2:34am Jan 30, 2007 2:34am
38.2% at 1.9693 was hit, next fib at 50% is 1.9735, 61.8% is 1.9778. No idea where exactly it'll stop.
Tra-X
  • #4,620
  • Jan 30, 2007 2:41am Jan 30, 2007 2:41am
Quoting Traex
38.2% at 1.9693 was hit, next fib at 50% is 1.9735, 61.8% is 1.9778. No idea where exactly it'll stop.
And it is hard to tell who will stop who: GBPUSD / GBPJPY...
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