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Daily Cable Analysis

  • #5,621
  • Feb 6, 2007 4:33am Feb 6, 2007 4:33am
HENRYCAROL!!! where art thou?
  • #5,622
  • Feb 6, 2007 4:36am Feb 6, 2007 4:36am
Quoting cesarnc
Straight shoot of 80 pips up and the direction is DOWN????

I must get back to the books then...
Well in larger timeframe, we're practically trendless since last week. Both sides are still possible. It seems that that pivotal 1.9666 "Number" has dispatched its own s1, r1, s2, r2, etc to prevent cable from running away from it.

Anyway, SeekingLight, nice m5 wave count.
Tra-X
  • #5,623
  • Feb 6, 2007 4:36am Feb 6, 2007 4:36am
Quoting cesarnc
Let me get this straight...

We started the day at 9590s and we're now at 9670, about to break yesterday's high / only 30 pips away from 9700, which if it is breached we're heading 9722.

All, and I MEAN ALL indicators are STROOOOOOOONGLY bullish

Why, in the name of God, are all of you guys TRADING A DOWNTREND over here?

What are you guys seeing that I'm not?????

As i wrote earlier - i currently dont see any trend - up or down - but the near term i see a down trend for scalping because there are no strong drivers to move it upwards. If its not going up and there is ongoing weakness on the GBP/JPY end - then there is only one direction - down (only for scalping - no long term positions here).

Girish
  • #5,624
  • Feb 6, 2007 4:37am Feb 6, 2007 4:37am
Quoting SeekingLight
Saw this earlier
Thanks for the chart....I was working with a 100% price projection too.

With a 5 wave Elliott move, wouldn't you nomally expect Wave 3 to be the longest, with a minimum of 128% of W1 = 1.9683 or more often 161.8% = 1.9702?

Both projections suggesting there's more upside to come.
Trading Levels with WRBs
  • #5,625
  • Feb 6, 2007 4:38am Feb 6, 2007 4:38am
i'm seein that demon 666 again
  • #5,626
  • Feb 6, 2007 4:40am Feb 6, 2007 4:40am
Quoting Islander
Thanks for the chart....I was working with a 100% price projection too.

With a 5 wave Elliott move, wouldn't you nomally expect Wave 3 to be the longest, with a minimum of 128% of W1 = 1.9683 or more often 161.8% = 1.9702?

Both projections suggesting there's more upside to come.
yeah, we are moving down now, wave 3 completed :
I am just here to talk nonsense =D
  • #5,627
  • Feb 6, 2007 4:41am Feb 6, 2007 4:41am
Watch the 30M candle. It will tell where the cable will go for the rest of the day!
  • #5,628
  • Feb 6, 2007 4:42am Feb 6, 2007 4:42am
I'm seeing weakness in the small timeframes. I think there should at least be a retracement after the breakout of yesterday's high. Right now I could not possibly call the medium term direction. The price is stuck in the middle of a channel on the 4H chart.
  • #5,629
  • Feb 6, 2007 4:42am Feb 6, 2007 4:42am
Anyway, HenyCarol!! How come you millionaire friends are not helping to move the market down by shorting??????
I am just here to talk nonsense =D
  • #5,630
  • Feb 6, 2007 4:42am Feb 6, 2007 4:42am
Quoting cesarnc
Straight shoot of 80 pips up and the direction is DOWN????

I must get back to the books then...
What indicators are you looking at that are bullish?

All my indicators (ADX,RSI,Stoch) says overbought:
http://img207.imageshack.us/img207/1461/47355264cy0.gif
  • #5,631
  • Feb 6, 2007 4:44am Feb 6, 2007 4:44am
For what it's worth, if price reaches to the 1.9700 level, there is a decent trend line, weekly pivot, and a fib cluster resting there. Might be a decent spot for a short if your plan calls for it.
  • #5,632
  • Feb 6, 2007 4:44am Feb 6, 2007 4:44am
I was hoping to short at 1.9680 - but 75 seemed toppish and took a short there - stop at 1.9690 (if it breaches that - i will hedge) - take profit at 1.9650
  • #5,633
  • Feb 6, 2007 4:45am Feb 6, 2007 4:45am
Quoting ghamal
What indicators are you looking at that are bullish?

All my indicators (ADX,RSI,Stoch) says overbought:
http://img207.imageshack.us/img207/1461/47355264cy0.gif
OMG!! That's so confusing Just joking! Nice chart, but mine is simpler though.. I prefer to see the beauty of candesticks and fibo...and ehem ehem... interesting points that I manually draw.. .::
I am just here to talk nonsense =D
  • #5,634
  • Feb 6, 2007 4:47am Feb 6, 2007 4:47am
Quoting ghamal
What indicators are you looking at that are bullish?

All my indicators (ADX,RSI,Stoch) says overbought:

Exactly...30M chart shows that it is over brought. and if the current 30M candle closes short, the cable has every chance to goo all the way down it has come up. Hope I am right!!!
  • #5,635
  • Feb 6, 2007 4:48am Feb 6, 2007 4:48am
Quoting ghamal
What indicators are you looking at that are bullish?

All my indicators (ADX,RSI,Stoch) says overbought:
Overbought and oversold in the 15M are quickly solved with 20 pips move. Usually retracements.

1hr / 4hr / Daily EMAs, RSIs, Stochs, the whole package are bullish as of now.

But I'll stop bothering you guys with it... Maybe it is just me.
  • #5,636
  • Feb 6, 2007 4:49am Feb 6, 2007 4:49am
Quoting Zarul Shahrin
OMG!! That's so confusing Just joking! Nice chart, but mine is simpler though.. I prefer to see the beauty of candesticks and fibo...and ehem ehem... interesting points that I manually draw.. .::


I know, you should see some other templates I have they look like a xmas tree!
  • #5,637
  • Feb 6, 2007 4:53am Feb 6, 2007 4:53am
Quoting cesarnc
Overbought and oversold in the 15M are quickly solved with 20 pips move. Usually retracements.

1hr / 4hr / Daily EMAs, RSIs, Stochs, the whole package are bullish as of now.

But I'll stop bothering you guys with it... Maybe it is just me.
its not just you
  • #5,638
  • Feb 6, 2007 4:56am Feb 6, 2007 4:56am
Quoting ghamal


I know, you should see some other templates I have they look like a xmas tree!
Maybe one day you will come to a level where you don't need such a complicated chart, a simple chart is enough in my opinion though . I mean if you can master it...
I am just here to talk nonsense =D
  • #5,639
  • Feb 6, 2007 5:01am Feb 6, 2007 5:01am
Quoting Zarul Shahrin
Maybe one day you will come to a level where you don't need such a complicated chart, a simple chart is enough in my opinion though if you master it properly...
post an example of what you look for plz...
  • #5,640
  • Feb 6, 2007 5:05am Feb 6, 2007 5:05am
Quoting ghamal


I know, you should see some other templates I have they look like a xmas tree!
no it's not just you. often times the short and long term views loose their distinction with the short narratives offerred by fellow members. sorry comments intented for cesarnc.
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