Daily Cable Analysis | Page 280 | 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

  • #5,581
  • Feb 6, 2007 2:19am Feb 6, 2007 2:19am
Quoting monarch

Not necessarily, I have seen a nice push up the first 5 minutes on London, especially after a strong Frankfurt like we just seen. But then right after 5 minutes, the price drops and usually test both the High and Low of Frankfurt.

Right now I am watching the Frankfurt High at 1.9621 to see if it holds, also the low at 1.9593 may also be re-tested in the London Session.

I would not take a Short on the Cable until these 2 lines are breached.

It is possible that once the 1.9621 is tested, it may rise some more, but right now I am only scalping because I have not seen an actual breakout in price this month yet.

thanks
mama
  • #5,582
  • Feb 6, 2007 2:23am Feb 6, 2007 2:23am
BRC Retail Sales y/y result decleared!?!??!!
  • #5,583
  • Feb 6, 2007 2:38am Feb 6, 2007 2:38am
As for me, I am looking at 1.9618, I am worry that we do not have enough momentum to break the line, atleast not until we move up to 1.9670 before moving down and try to break it with all the momentum we have, but the good news is, if we are able to get through it, we may have a good down ride...
I am just here to talk nonsense =D
  • #5,584
  • Feb 6, 2007 2:41am Feb 6, 2007 2:41am
we need more selling power till we are below the line I mentioned above...
I am just here to talk nonsense =D
  • #5,585
  • Feb 6, 2007 2:42am Feb 6, 2007 2:42am
Quoting Zarul Shahrin
As for me, I am looking at 1.9618, I am worry that we do not have enough momentum to break the line, atleast not until we move up to 1.9670 before moving down and try to break it with all the momentum we have, but the good news is, if we are able to get through it, we may have a good down ride...

Dont worry 1.9621 will break soon
  • #5,586
  • Edited 2:44am Feb 6, 2007 2:43am | Edited 2:44am
little quieter here today?

I took the short at 9633, on the 23.6 fib of wave1 of larger waveC. hopefully does the same as yesterday but further down!
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #5,587
  • Feb 6, 2007 2:48am Feb 6, 2007 2:48am
Why are U guys on the down side? Scalp purposes or daily direction?
  • #5,588
  • Feb 6, 2007 2:50am Feb 6, 2007 2:50am
Quoting viking
Dont worry 1.9621 will break soon
That's another issue, the more support line we have, the harder it is gonna be...unless we have enough power, to get over them one by one. Having a support line every 15-20 pips is not as bad as having a support line every 2 3 pips....
I am just here to talk nonsense =D
  • #5,589
  • Feb 6, 2007 2:52am Feb 6, 2007 2:52am
Quoting cesarnc
Why are U guys on the down side? Scalp purposes or daily direction?

Not sure about anyone else but I am there for the day (at the moment) I am hoping we are starting wave3 of larger C down. my little rodent has died so finding it difficult to chart!
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #5,590
  • Feb 6, 2007 2:54am Feb 6, 2007 2:54am
Quoting cesarnc
Why are U guys on the down side? Scalp purposes or daily direction?
I am not sure about others, but when I woke up this morning, I saw a lot of posts about going "long", as for me, I am still 40 - 60 . 40 about moving up, based on my hourly chart, and 60 for going down based on my daily chart...
I am just here to talk nonsense =D
  • #5,591
  • Feb 6, 2007 2:55am Feb 6, 2007 2:55am
the price just broke tom de mark triangle on 4 h chart and it seems that there is a good probabilily of rising to 1.9665 mark
Attached Image
  • #5,592
  • Feb 6, 2007 2:56am Feb 6, 2007 2:56am
Did the GBP Retail Sales # come out early?
Not supposed to come out for 2 plus hours and it is showing
3.1% - up from 2.0% forcast
  • #5,593
  • Feb 6, 2007 3:11am Feb 6, 2007 3:11am
I am long from 9600 based on Pin on daily chart and further support from Mouteki/TDM TL break. Now we also have the (early) release of strongest monthly UK retail data for 3 years. So I think we may get close to 9700 today and then possibly bounce back down from downwards trendline connecting 99+ high from 23 Jan and 9747 high of 2 Feb.
Consistency and patience is everything
  • #5,594
  • Feb 6, 2007 3:14am Feb 6, 2007 3:14am
Sorry guys, but GBPUSD is merely cross pair of GBPYEN until that miserable G7 summit (tomorrow?) puts that "weak yen" on the table - or leave it alone.

Cable was going up WITH yen so far... Same as of yesterday. The worse news is that support and resistances seems to don't exist in this case... Yesterday I traded the breach of 9605 upwards and it went down - twice...

I've been EXTREMELY carefull today...
  • #5,595
  • Feb 6, 2007 3:17am Feb 6, 2007 3:17am
Quoting Geldmeister
I am long from 9600 based on Pin on daily chart and further support from Mouteki/TDM TL break. Now we also have the (early) release of strongest monthly UK retail data for 3 years. So I think we may get close to 9700 today and then possibly bounce back down from downwards trendline connecting 99+ high from 23 Jan and 9747 high of 2 Feb.
I'm also on the upside for indicators + bounce at upward trend like yesterday + failure of USD-positive news but it seems that it doesn't respond to all of it!

About pin-bars: 4:00GMT is a pin-bar suggesting upwards. The actual 4hr candle is (right now) a pin-bar suggesting downwards. Still 2.5hr to go, but we'd better watch it, too
  • #5,596
  • Feb 6, 2007 3:19am Feb 6, 2007 3:19am
Quoting cesarnc
Sorry guys, but GBPUSD is merely cross pair of GBPYEN until that miserable G7 summit (tomorrow?) puts that "weak yen" on the table - or leave it alone.

Cable was going up WITH yen so far... Same as of yesterday. The worse news is that support and resistances seems to don't exist in this case... Yesterday I traded the breach of 9605 upwards and it went down - twice...

I've been EXTREMELY carefull today...
There is a support and resistance lines, but you need to do extra work to find them, you have too look them in a different way sometimes...
I am just here to talk nonsense =D
  • #5,597
  • Edited 3:33am Feb 6, 2007 3:23am | Edited 3:33am
I have told you guys that I am afraid that it won't be able to get through 1.9618 and it seems that it's having problem with the support line...If it doesn't get through it at anytime near the news release, we can forget about movement down till it goes up to 1.9675 area...I wish that I am wrong though..
I am just here to talk nonsense =D
  • #5,598
  • Feb 6, 2007 3:26am Feb 6, 2007 3:26am
Quoting Geldmeister
I am long from 9600 based on Pin on daily chart and further support from Mouteki/TDM TL break. Now we also have the (early) release of strongest monthly UK retail data for 3 years. So I think we may get close to 9700 today and then possibly bounce back down from downwards trendline connecting 99+ high from 23 Jan and 9747 high of 2 Feb.
early release? explain
v
  • #5,599
  • Feb 6, 2007 3:31am Feb 6, 2007 3:31am
It failed to break 2 overlapping fibos at 1.9641 so far (23.6% from 1.9915 - 1.9556 wave 1 or A fibo and 50% from 1.9746 - 1.9535 subwave 1 (?) of wave 3 or C fibo).
Tra-X
  • #5,600
  • Feb 6, 2007 3:32am Feb 6, 2007 3:32am
Quoting 59fender
early release? explain
v
Appearing in the calendar as already released the 11:00 GMT news... Don't know if it is right though
3 traders viewing now