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Daily Cable Analysis

  • #6,121
  • Feb 13, 2007 3:40am Feb 13, 2007 3:40am
I didn't know cable could drop 50+ pips in one second. 1.9512 to 1.9454 in like 3 seconds. This is some exciting stuff. I got the chills just from watching. I think I would have a heart attack if I had long.
  • #6,122
  • Feb 13, 2007 4:51am Feb 13, 2007 4:51am
enzo2325Im still short. If you draw a fibo from yesterday from the high to the low. 1.9565 to 1.9436 cable is retracing to these fibo levels. Cable hit the 50% fibo level of 9501 and bounced off of this. So it could hit the 61.8% of 9516 and then go back down. I went long to get some quick pips but I just shorted again to 9261. Thats my target and I beleive strongly cable ios going to get there. If im wrong o well I lost a lot of money.


Made out extremely well today
trading on demo is not trading
  • #6,123
  • Feb 13, 2007 7:13am Feb 13, 2007 7:13am
start moving up ...... hope 9500 again.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #6,124
  • Feb 13, 2007 7:53am Feb 13, 2007 7:53am
going north.......... you would have thought it would have spiked up more than that on the news. I guess that +.1% on the revision from last month was enough to overlook the 1.7% difference to the negative on the expectations for this month. Resistance at 1.9463.
Show me the PIPS!
  • #6,125
  • Feb 13, 2007 8:09am Feb 13, 2007 8:09am
Quoting tathlynq
going north.......... you would have thought it would have spiked up more than that on the news. I guess that +.1% on the revision from last month was enough to overlook the 1.7% difference to the negative on the expectations for this month. Resistance at 1.9463.
u r resistance, is strong ?
I Deeply Love My Virtual Life In Virtual World , RLC
  • #6,126
  • Feb 13, 2007 10:10am Feb 13, 2007 10:10am
Looks to be strong. I still believe we are headed further SHORT to the 1.9300 level. I'm not a pro but that's what my personal analysis is telling me. Good luck to all. I need to catch some sleep so I can start this all over again at 7 PM today!
Show me the PIPS!
  • #6,127
  • Edited 10:39am Feb 13, 2007 10:28am | Edited 10:39am
Here is the Daily and Monthly Charts.

Looks like there is a big move that is in the works.

The Daily has the trend line around the 1.9350 area, if it were too drop again today at Frankfurt and London - like the past 4 straight times.

The Monthly is showing a nice squeeze at the top of the Flag Formation, which will have a breakout above or below the trend lines.

This would seem like a Long Term Traders dream, but looking at the Lower Trend line that is nearing, if it continues to go lower and breach this line, that may be a signal that Cable is going to go lower than what we have seen recently.
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TheCableGuy
  • #6,128
  • Feb 13, 2007 10:42am Feb 13, 2007 10:42am
Chart
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TheCableGuy
  • #6,129
  • Feb 13, 2007 11:47am Feb 13, 2007 11:47am
Here Is My Daily Chart

pRICE SHOULD HIT THE 100 EMA WHICH PRICE IS 9341. wE SHOULD GET A LITTLE BOUNCE OFF OF IT. IT'S STILL LOOKING TO GO DOWN FURTHER. I DONT SEE WHY CABLE WOULD GO UP. wE ARE PASSED ALL THE FIBOS TO HIT OUR LOW OF 9261.

ALSO IF YOU RUN A FIBO FROM 1.8835 LOW TO 1.9914 HIGH

38.2% 1.9502 ALREADY PASSED
50.0% 1. 9374
61.8% 1.9247
Attached Image
trading on demo is not trading
  • #6,130
  • Feb 13, 2007 12:19pm Feb 13, 2007 12:19pm
Gap Alert on GBP, trying to attach chart.
Attached Image
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,131
  • Feb 13, 2007 12:56pm Feb 13, 2007 12:56pm
on what time frame you see the gap?

divergence on 1h chart and 4h chart as well. maybe a corrective wave is around the corner.
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  • #6,132
  • Edited 1:04pm Feb 13, 2007 1:00pm | Edited 1:04pm
On FXSol Accucharts - 5 min/15 min
broker FXSolutions (these charts come with the trade station)


I know that price goes back to fill the gap, however, I have experienced where it has not completd this movement right away....

something to consider, when looking for a direction.
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,133
  • Feb 13, 2007 2:22pm Feb 13, 2007 2:22pm
These have not been updated, however, interesting....
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All hard work brings a profit, but mere talk leads only to poverty.
  • #6,134
  • Feb 13, 2007 2:51pm Feb 13, 2007 2:51pm
Glad I stayed away today after being stopped ...

Once the dust settled, a clearer view formed and looks like we are going for a nice long on cable. Retraces should be small and targets are as below ..

1st at 9508 then 9600 area followed by the long term target
2nd at 9800 but this would be about 5 days down the road

1st real resistance is at 9508 then after a retrace there we should goto 9600.

Fxastro
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  • #6,135
  • Feb 13, 2007 3:05pm Feb 13, 2007 3:05pm
Quoting fxastro
Glad I stayed away today after being stopped ...

Once the dust settled, a clearer view formed and looks like we are going for a nice long on cable. Retraces should be small and targets are as below ..

1st at 9508 then 9600 area followed by the long term target
2nd at 9800 but this would be about 5 days down the road

1st real resistance is at 9508 then after a retrace there we should goto 9600.

Fxastro
Tomorrow fundys included? On mixed fundys like tomorrow's fcast, I get worried about ranging market + agressive whipsaws... What would be your confirmation for long afer Frankfurt / London open?
  • #6,136
  • Feb 13, 2007 3:28pm Feb 13, 2007 3:28pm
I believe we are headed up to fill that gap also. Techs confirm I believe.
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,137
  • Feb 13, 2007 3:50pm Feb 13, 2007 3:50pm
I'm in agreement with the majority. I think Cable is due for a major correction. There's some initial resistance early, but should break for a long run thereafter.
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  • #6,138
  • Feb 13, 2007 4:25pm Feb 13, 2007 4:25pm
Anyone looking to go long, keep in mind we are below longterm daily trendline. Not saying it isn't going to retrace. Just watch reaction when we are trading back near TL.
  • #6,139
  • Feb 13, 2007 4:30pm Feb 13, 2007 4:30pm
My T&S on bid changes shows a gap from 1.9498 to 1.9474 and then 1.9467.

We closed lower gap area so far. I think it might a little while before we see 1.95
  • #6,140
  • Feb 13, 2007 4:38pm Feb 13, 2007 4:38pm
Yesterday Daily Candle opened and closed at 1.9467.

High was 1.9522
Low was 1.9400

I will be entering Long at 1.9533 or a Short at 1.9399

The Candle formation looks to be indicating a slowing on the downward move, but still could go down towards the 1.9200 before actually heading back up.

This is the reason I have both a Long and a Short waiting.
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