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Daily Cable Analysis

  • #4,821
  • Jan 31, 2007 2:58am Jan 31, 2007 2:58am
The Midpoint cross at 1.8630 to the downside was a clue to what was going to happen. You can see the Seller's resistance ( red dots ). I anticipate a retrace to 1.8566 and 1.8579.

http://img15.imgspot.com/u/07/30/04/...1170237138.jpg
"Even a 100 pip profit begins with the first pip."
  • #4,822
  • Edited 3:13am Jan 31, 2007 2:59am | Edited 3:13am
Ribo Retracement levels from High 1.9620 to the Low 1.9525

50% - 1.9573
61.8 - 1.9584
  • #4,823
  • Jan 31, 2007 3:07am Jan 31, 2007 3:07am
Quoting monarch
Ribo Retracement levels from High 1.9620 to the Low 1.9525 95

50% - 1.9573
61.8 - 1.9584
If possible would you please post a chart with the fib levels plotted.

Thank you.
"Even a 100 pip profit begins with the first pip."
  • #4,824
  • Jan 31, 2007 3:08am Jan 31, 2007 3:08am
Well this move stunned me lol. I changed my mind yesterday that most likely wave 3 down had not started yet. And now cable did this. Still possible it's an extended subwave B tho (expanded flat correction). We'll see later.
Tra-X
  • #4,825
  • Jan 31, 2007 3:08am Jan 31, 2007 3:08am
Quoting Mama007
I heard it on the telly but you can go to newsnow.co.uk to read the article

http://news.bbc.co.uk/1/hi/uk/6315989.stm
  • #4,826
  • Jan 31, 2007 3:10am Jan 31, 2007 3:10am
Quoting Leugimp
Just confimed - look for move to 9580 - although I will not add to long here confirmed on a bar to high up from pivot low so I will only add on pullback to 9529.

Will not add at 29 as we may see a double bottom at lower levels than 9524 so will only add to it at if we reach monarchs 9508 to fade the move.
Man who scratches ass should not bite fingernails
  • #4,827
  • Jan 31, 2007 3:11am Jan 31, 2007 3:11am
long at 34
  • #4,828
  • Jan 31, 2007 3:11am Jan 31, 2007 3:11am
Quoting Traex
Well this move stunned me lol. I changed my mind yesterday that most likely wave 3 down had not started yet. And now cable did this. Still possible it's an extended subwave B tho (expanded flat correction). We'll see later.
Its a good quality in terms of confidence to be stunned when you arent understanding what is going on. I get stunned when the market moves the way I expect it to.
Man who scratches ass should not bite fingernails
  • #4,829
  • Edited Feb 2, 2007 5:48pm Jan 31, 2007 3:12am | Edited Feb 2, 2007 5:48pm
Based upon my Daily Grid Chart, the Price is riding the downward slope line here at 1.9530 mark.

This is shown in the Yellow Circle.
  • #4,830
  • Jan 31, 2007 3:20am Jan 31, 2007 3:20am
Im long from 1.9530 ,

Target 1.9580
  • #4,831
  • Jan 31, 2007 3:20am Jan 31, 2007 3:20am
Quoting monarch
Based upon my Daily Grid Chart, the Price is riding the downward slope line here at 1.9530 mark.

This is shown in the Yellow Circle.
So, it means cable will continue downward?
  • #4,832
  • Edited Feb 2, 2007 5:48pm Jan 31, 2007 3:21am | Edited Feb 2, 2007 5:48pm
Quoting PipForce_X
If possible would you please post a chart with the fib levels plotted.

Thank you.
This is the Extreme on the Fibo from High 1.9620 to the Low at 1.9525

38.2 Lower circle - 1.9561
50% Middle circle - 1.9573
61.8 Upper circle - 1.9584
  • #4,833
  • Jan 31, 2007 3:22am Jan 31, 2007 3:22am
Thanks again, Monarch.

A break through the resistance at 1.9547 should be clear sailing to 1.9560.

http://img15.imgspot.com/u/07/30/05/...1170238563.jpg
"Even a 100 pip profit begins with the first pip."
  • #4,834
  • Jan 31, 2007 3:26am Jan 31, 2007 3:26am
We are approaching this trendline once again on the weeklys, should provide good support until a decision is made at news time.
Attached Image
Man who scratches ass should not bite fingernails
  • #4,835
  • Jan 31, 2007 3:27am Jan 31, 2007 3:27am
Quoting henrycarol
Im long from 1.9530 ,

Target 1.9580
Why did you go long at 30 and where is you SL?

Thanks.
I Love Forex Factory!
  • #4,836
  • Jan 31, 2007 3:30am Jan 31, 2007 3:30am
Quoting Leugimp
We are approaching this trendline once again on the weeklys, should provide good support until a decision is made at news time.

A break through the trendline at this juncture would coincide with the stochastic tl break, and has the strong potential of taking us down for some time in 2007. However, a move up from here and all the Slow Stoch with the periods we use must be thrown out the door as there is really no more room for them to the upside.
Man who scratches ass should not bite fingernails
  • #4,837
  • Jan 31, 2007 3:33am Jan 31, 2007 3:33am
Quoting henrycarol
Im long from 1.9530 ,

Target 1.9580

We on the same side againhttp://board.freeones.com/images/smilies/hatsoff.gif
Man who scratches ass should not bite fingernails
  • #4,838
  • Jan 31, 2007 3:34am Jan 31, 2007 3:34am
i think its gona go down 9500 level
  • #4,839
  • Jan 31, 2007 3:37am Jan 31, 2007 3:37am
I still don't understand why go long when it's all pointing down.
  • #4,840
  • Edited Feb 2, 2007 5:48pm Jan 31, 2007 3:37am | Edited Feb 2, 2007 5:48pm
Quoting c1ro
So, it means cable will continue downward?


Actually with this chart, I would be in a Long from an original reading, the Red line holding the price around 1.9530 area would mean that my Long is still in good standing condition. If the line is breached here, then there would be a possibility that I would short, but only after there was clear indication.

Look at the chart once again, you can see the channel going upwards in the 2 Green lines for some time, just because the price skirts these lines, that does not give me signal to go Short.

Two ways to look at the lines, the Red is sloping downward to the right, but at the same time it is pointing upward in the triangular box that is Green.

I would still be Long, especially with the 1.9508 Fibo mark being an extreme, but if the price dropped out of the lower right hand part of the triangle Red meeting Green, then I would exit and enter a Short.

In the meantime, the price may skirt this Red line all the way down to the right, but eventually it is heading upwards with the angle of the slope of the Green line.

I made the one red line so you would see the active area of support.
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