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Is it just me or is cable acting random? 48 replies

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Attachments: Daily Cable Analysis
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Daily Cable Analysis

Quoting marwan2010
long at 34
closed and reversed, 7 pip loss
now short
Quoting ronaldinho
I still don't understand why go long when it's all pointing down.
Hey ronaldinho, this is hardly a trend move and while it coincides with the original recent direction, you can make some pips here by seeing how orders around these critical levels can be exploited, I had an order in to add to long at monarchs 9508but have since switched it to 9490 as I feel stops at 9500 level may be taken advantage of prior to news. If not, then I'll just have to deal with my tiny position long that I already have on. We may be seeing the double bottom called for to shake off a few more stops. Once this move is done we should hed back to or above the key 9550 level.

Of course with these counter trend/directional trades it is always important to keep risk small as anything and everything can always happen and if you are against the recent direction, you may be stepping in front of a runaway train.
Man who scratches ass should not bite fingernails
  • Post #4,843
  • Quote
  • Edited Feb 2, 2007 6:48pm Jan 31, 2007 4:46am | Edited Feb 2, 2007 6:48pm
Here is the Weekly Chart with Gann Lines.

You can see the low now has reached the bottom of the Gann Line, this would signal the Short has reached its low.

1.9511 (3 pips from the Fibo mark has been reached)

Now we will be looking for a retracement up to 1.9578.

This would put us back into the Median Price Range of 1.9587 area.
A quick 10 pip scalp with exit at 50% fib retrace ( 1.9528 ).

http://img15.imgspot.com/u/07/30/05/...1170240056.jpg
"Even a 100 pip profit begins with the first pip."
Quoting PipForce_X
A quick 10 pip scalp with exit at 50% fib retrace ( 1.9528 ).

http://img15.imgspot.com/u/07/30/05/...1170240056.jpg
Can you possibly add an explanation to the logic behind this?
Man who scratches ass should not bite fingernails

GBP under pressure VS all currencies....im just waitng the news to pop out B-)

"Analysis Is Hard But Trade Is Easy"
Quoting Leugimp
Can you possibly add an explanation to the logic behind this?
If you mean the logic of my LONG when the sellers are winning, it is because the candle was green and usually runs from 1 fib line to the next.
"Even a 100 pip profit begins with the first pip."
Quoting Leugimp
Can you possibly add an explanation to the logic behind this?
Looks like a quick scalp off of the 61.8 fib of the 1.9263 - 1.9915 move. We're at a crossroads here for cable. If that 61.8 fib can't hold then we could be going all the way back down to the 1.93 area.
Quoting monarch
Here is the Weekly Chart with Gann Lines.

You can see the low now has reached the bottom of the Gann Line, this would signal the Short has reached its low.

1.9511 (3 pips from the Fibo mark has been reached)

Now we will be looking for a retracement up to 1.9578.

This would put us back into the Median Price Range of 1.9587 area.

Thanks for that Monarch, very interesting and helpful
Trading Levels with WRBs
Quoting notouch
Looks like a quick scalp off of the 61.8 fib of the 1.9263 - 1.9915 move. We're at a crossroads here for cable. If that 61.8 fib can't hold then we could be going all the way back down to the 1.93 area.
And matches with a supposed strong up trend line from 8834 - 9262 - 9315. We're right at it now...
Quoting PipForce_X
If you mean the logic of my LONG when the sellers are winning, it is because the candle was green and usually runs from 1 fib line to the next.
I didn't really mean that, I meant more what that chart and all of those dots are supposed to tell me about the current short term condition for cable. If you dont want to explain I understand.
Man who scratches ass should not bite fingernails
Now IF the UK Consumer Confidence data at 5:30 EST will just push GBP back down again to test its lows I'll be a happy buyer
Trading Levels with WRBs
Quoting Leugimp
I didn't really mean that, I meant more what that chart and all of those dots are supposed to tell me about the current short term condition for cable. If you dont want to explain I understand.
Red dots are resistance and blue dots are support.

The dark cyan, brown and grey dots are the fib levels between support and resistance. No big secret.
"Even a 100 pip profit begins with the first pip."
Quoting PipForce_X
Red dots are resistance and blue dots are support.

The dark cyan, brown and grey dots are the fib levels between support and resistance. No big secret.

How are red dots and blue dots calculated
Man who scratches ass should not bite fingernails
Quoting Leugimp
How are red dots and blue dots calculated

pivot highs and lows - got it
Man who scratches ass should not bite fingernails
Quoting Leugimp
pivot highs and lows - got it
Close...

It's hard to explain... it's usually the highest high and lowest low for the last 5 periods but depending on if a new level is made, the opposite level is retained ( sometimes) .

http://i15.tinypic.com/2hcf4oi.jpg
"Even a 100 pip profit begins with the first pip."
nice drop...isnt it...do we still got some room to go below psiho level 500?
if the news doesnt bring it down, i dont know what will....any opinion?...still holding shorts...
its just money
got rid of long here at b/e. Will use the 5:30 news to fade any extremes if it takes us there. To hold position right now where price is trading right before news just feels like a gamble. If price drops will fade at 9490, if rises will only fade at 9615-9620.
Man who scratches ass should not bite fingernails
Quoting Leugimp
Can you possibly add an explanation to the logic behind this?
is this a indicator?
What is it called if so? I might start using it
seems news gona be in favour of gbp.
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