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Daily Cable Analysis

  • #5,641
  • Feb 6, 2007 5:08am Feb 6, 2007 5:08am
Quoting ghamal
post an example of what you look for plz...
The reason why you hardly see me posting a chart is because, most of my calculation is made manually, not by charting software, and am I on linux platform, I don't have many options to choose, I just draw some fibo on my java based chart provided by my broker and that's it, Any other calculation is done with a calculator and my brain...
I am just here to talk nonsense =D
  • #5,642
  • Feb 6, 2007 5:09am Feb 6, 2007 5:09am
ohya, and spreasheets to record anything I find interesting that I should keep my eyes on...
I am just here to talk nonsense =D
  • #5,643
  • Feb 6, 2007 5:14am Feb 6, 2007 5:14am
IF some millionaires decided to dump some cash buying pound right now, we may be able to break the resistance though... so, pray hard!!! hehehe...
I am just here to talk nonsense =D
  • #5,644
  • Feb 6, 2007 5:14am Feb 6, 2007 5:14am
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.
Islander, it was just a wave within a wave anyhow...to tease some of the scalper folks (nonsense imho).
The real ABC off the low would have it's FE 100 at 1.9670, FE 161.8% at 1.9718.
Basically if you are assuming that that was the end of a wave 2 of a larger C wave up or similiar you wouldn't just bail at any FE end without a reason to but rather wait for some sort of reversal sign and if not stay in...bailing out of trades with limits vs watiting to see is the usual tradeoff of risking profit for more profit...

Currently I'm wondering whether the pre-NFP pin bar has gone active.
Then we won't be going to that 1.93xx I've been eying for ages but instead swinging back up to lord knows where.

I'm going to wait for some sort of "clear" setup on a decent timeframe (1-h->4h->daily preferably).
Trust price. Know yourself.
  • #5,645
  • Feb 6, 2007 5:14am Feb 6, 2007 5:14am
this market is like an old woman trying to cross an icy road!!!! choose a direction and go!! bob and weave, bob and weave. either the big boys are not trading yet, or they are waiting for something catastrophic to happen and act accordingly, or maybe for the fed to do something so they can justify making a move!!! geez make a move already. if it doesn't work out, it will only hurt for a little bit, you have 10 months to make it back!!!!!
  • #5,646
  • Feb 6, 2007 5:18am Feb 6, 2007 5:18am
Quoting mtrmth
this market is like an old woman trying to cross an icy road!!!! choose a direction and go!! bob and weave, bob and weave. either the big boys are not trading yet, or they are waiting for something catastrophic to happen and act accordingly, or maybe for the fed to do something so they can justify making a move!!! geez make a move already. if it doesn't work out, it will only hurt for a little bit, you have 10 months to make it back!!!!!
some movement up, your prayer was listened by god!!! hehe!
I am just here to talk nonsense =D
  • #5,647
  • Feb 6, 2007 5:19am Feb 6, 2007 5:19am
actually zarul, i want it to move 500 pips in one direction in one day for one hour, then move back to where it was the next hour. a 2 hour trading week is all i ask, that is my prayer!!!
  • #5,648
  • Feb 6, 2007 5:20am Feb 6, 2007 5:20am
This was the last 30 hours best trade. One trade, would still be valid. Didn't see this early enough and still am/was believing we'd break that TL at some point....

Edit: Also illustrates there was/is a clear direction if you look in the right place. No indecision, just the usual Asia drift over night, then takeoff again on London's open. Like I wrote over in the James thread, it's about holding on to a position until it's "worth" something (2-3 or more times your stop size preferably).
Attached Image
Trust price. Know yourself.
  • #5,649
  • Feb 6, 2007 5:22am Feb 6, 2007 5:22am
Anyway, my opinion, if buyers failed to break the line at the current 1 hour bar, and the next bar is bearish, it most likely won't break the line today....just my 2 pips though
I am just here to talk nonsense =D
  • #5,650
  • Feb 6, 2007 5:24am Feb 6, 2007 5:24am
Quoting SeekingLight
Islander, it was just a wave within a wave anyhow...to tease some of the scalper folks (nonsense imho).
The real ABC off the low would have it's FE 100 at 1.9670, FE 161.8% at 1.9718.
Basically if you are assuming that that was the end of a wave 2 of a larger C wave up or similiar you wouldn't just bail at any FE end without a reason to but rather wait for some sort of reversal sign and if not stay in...bailing out of trades with limits vs watiting to see is the usual tradeoff of risking profit for more profit...

Currently I'm wondering whether the pre-NFP pin bar has gone active.
Then we won't be going to that 1.93xx I've been eying for ages but instead swinging back up to lord knows where.

I'm going to wait for some sort of "clear" setup on a decent timeframe (1-h->4h->daily preferably).

Point taken about higher time frames, but just looking at the 5m and 1m, I'm trading the move that I'm seeing.

I'm now looking at W3 H at 1.9675 and W4 Low at 1.9651.

Once this is confirmed by a move above 1.9675 I have projections to 689, 700 or 713.

As ever, price action is needed to confirm this hypothesis.

I'm long from 664 with a stop under the W4 low.
Trading Levels with WRBs
  • #5,651
  • Feb 6, 2007 5:27am Feb 6, 2007 5:27am
Quoting mtrmth
actually zarul, i want it to move 500 pips in one direction in one day for one hour, then move back to where it was the next hour. a 2 hour trading week is all i ask, that is my prayer!!!
.

You are speaking out everybody's mind!!!
  • #5,652
  • Feb 6, 2007 5:30am Feb 6, 2007 5:30am
Quoting simplecoders
.

You are speaking out everybody's mind!!!
LOL! If I am not wrong, someone with the same hope had his prayer answered 2 weeks ago, but it was on GBPJPY though...
I am just here to talk nonsense =D
  • #5,653
  • Feb 6, 2007 5:31am Feb 6, 2007 5:31am
Quoting mtrmth
actually zarul, i want it to move 500 pips in one direction in one day for one hour, then move back to where it was the next hour. a 2 hour trading week is all i ask, that is my prayer!!!
lol that'd be the largest stops sweeping ever seen.
Tra-X
  • #5,654
  • Feb 6, 2007 5:32am Feb 6, 2007 5:32am
this is where we were at the end of the day friday couldn't get above this level then we dropped from here monday staying below without rising above1.9675
  • #5,655
  • Feb 6, 2007 5:32am Feb 6, 2007 5:32am
2 times more then SL i might add,...i like my SL not to be hitten to offen,...it gets me frustrated...u know haw ...bad it is...i can take huge SL hitten, but not to many small in a row....it happened to many times, it hit it and retrace it back, so i could make profit,...SL is a killer number 2 in this game...
its just money
  • #5,656
  • Feb 6, 2007 5:33am Feb 6, 2007 5:33am
correct me if I am wrong, but since when did 1.9666 been converted into support line on 5 minutes chart?
I am just here to talk nonsense =D
  • #5,657
  • Feb 6, 2007 5:39am Feb 6, 2007 5:39am
Ahaks, so got chance for an upper movement, but well too early too get overly excited on this, so.... unless it can close above 1.9675 for the next 1 hour bar, I am keeping my short...
I am just here to talk nonsense =D
  • #5,658
  • Feb 6, 2007 5:43am Feb 6, 2007 5:43am
Quoting Zarul Shahrin
Ahaks, so got chance for an upper movement, but well too early too get overly excited on this, so.... unless it can close above 1.9675 for the next 1 hour bar, I am keeping my short...
I'm keeping my pants... Longed all the way from 9606 step by step, mostly driven by the short calls...
  • #5,659
  • Feb 6, 2007 5:45am Feb 6, 2007 5:45am
Quoting Zarul Shahrin
Ahaks, so got chance for an upper movement, but well too early too get overly excited on this, so.... unless it can close above 1.9675 for the next 1 hour bar, I am keeping my short...
There's another strange 'Henrycarol' resistance at 1.9710 area. Let's see what will happen when and if it reaches it.
Tra-X
  • #5,660
  • Feb 6, 2007 5:47am Feb 6, 2007 5:47am
Ok, this is my analysis, since 1.9666 has been converted to support, there is a chance for a movement up, but if somehow for the next 2 hours, the market get below 1.9666 and open a candle bar below it, the story will be different...
I am just here to talk nonsense =D
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