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Daily Cable Analysis

  • #6,141
  • Feb 13, 2007 9:26pm Feb 13, 2007 9:26pm
looking like long trend..

set entry point..just wait and see
  • #6,142
  • Feb 14, 2007 12:13am Feb 14, 2007 12:13am
480m, 240m, 180m, and 120m showing some divergence to the north, 60m, 30m, and 15m showing some divergence to the south on the recent swing up to 1.9490. Hard to tell if or when the divergence to the north will take hold. A .62fib of the run up from the low today of 1.9399 to the recent high of 1.9493 is 1.9434, a price that has offered support in the past. Might be a level worth noting.

Two trend lines in yellow providing resistance at the moment
Attached Image
  • #6,143
  • Feb 14, 2007 12:31am Feb 14, 2007 12:31am
That doji on yestarday's daily candle looks ominous. Prefer the long side for now.
  • #6,144
  • Feb 14, 2007 1:35am Feb 14, 2007 1:35am
Seems to be the Resistance so far, the Hourly Candle 3 hours ago held price at 1.9492 also.

Watching for a breach on yesterdays Daily Candle - High at 1.9523 and 1.9400 at Low.
  • #6,145
  • Feb 14, 2007 2:43am Feb 14, 2007 2:43am
if we can stay below1.9538 could see 1.9375
  • #6,146
  • Feb 14, 2007 2:55am Feb 14, 2007 2:55am
Quoting 59fender
if we can stay below1.9538 could see 1.9375
I had 1.9523 as a breaking point from the High from yesterdays candle, but it went to 1.9537 and just froze up. There will be news here in 30 minutes, if it does not push it back above the 1.9538 area you speak of, I would say it is going back down, to possibly re-test the Low at 1.9400-10 or even into the 1.9300 area.

We shall see the response to the news here shortly.

59 - When will you enter a Short if it starts to drop?

I have 1.9492 as a good reference point on the short side.
  • #6,147
  • Edited 3:09am Feb 14, 2007 2:57am | Edited 3:09am
macd on 4h chart crossed ,price already passed 67 pip upwards from the day opening, so the probability to a reversal is low. good chances the price would go to 1.9605 mark ,on 61.8% fibo.




not a trade recommendation
  • #6,148
  • Feb 14, 2007 3:01am Feb 14, 2007 3:01am
1.9537 was the previous low on 2/05/07 daily chart, support now acting as resitance
  • #6,149
  • Feb 14, 2007 3:10am Feb 14, 2007 3:10am
Quoting monarch
I had 1.9523 as a breaking point from the High from yesterdays candle, but it went to 1.9537 and just froze up. There will be news here in 30 minutes, if it does not push it back above the 1.9538 area you speak of, I would say it is going back down, to possibly re-test the Low at 1.9400-10 or even into the 1.9300 area.

We shall see the response to the news here shortly.

59 - When will you enter a Short if it starts to drop?

I have 1.9492 as a good reference point on the short side.
light short now, stop and reverse if it breaks
  • #6,150
  • Feb 14, 2007 3:17am Feb 14, 2007 3:17am
Quoting mosheber
macd on 4h chart crossed ,price already passed 67 pip upwards from the day opening, so the probability to a reversal is low. good chances the price would go to 1.9605 mark ,on 61.8% fibo.




not a trade recommendation

Thanks, appreciate the heads up, I will be watching either way, right now just scalping few pips, but will wait the news here in 15 minutes or less.
  • #6,151
  • Feb 14, 2007 3:23am Feb 14, 2007 3:23am
Quoting 59fender
1.9537 was the previous low on 2/05/07 daily chart, support now acting as resitance
That is the charcacteristics of the Cable, I would be watching the break above 1.9537, especially since we just reached it.

Right now were in the middle of 1.9492 and 1.9537, the two areas I am watching. Also the Frankfurt Opened at 1.9475 and the Low was 1.9469.

That would be the ideal break below 1.9469.
  • #6,152
  • Feb 14, 2007 3:27am Feb 14, 2007 3:27am
Quoting monarch
I had 1.9523 as a breaking point from the High from yesterdays candle, but it went to 1.9537 and just froze up. There will be news here in 30 minutes, if it does not push it back above the 1.9538 area you speak of, I would say it is going back down, to possibly re-test the Low at 1.9400-10 or even into the 1.9300 area.

We shall see the response to the news here shortly.

59 - When will you enter a Short if it starts to drop?

I have 1.9492 as a good reference point on the short side.
waiting for the news..
  • #6,153
  • Feb 14, 2007 3:31am Feb 14, 2007 3:31am
Quoting monarch
That is the charcacteristics of the Cable, I would be watching the break above 1.9537, especially since we just reached it.

Right now were in the middle of 1.9492 and 1.9537, the two areas I am watching. Also the Frankfurt Opened at 1.9475 and the Low was 1.9469.

That would be the ideal break below 1.9469.
The High yesterday on the Daily was 1.9522, we have went above this point just during the London Open, would be interesting if we break above this and it becomes the support for a move upward.

I will be trading the news on a 1 minute chart - watching the 3 points of reference before entering a position.
  • #6,154
  • Feb 14, 2007 3:48am Feb 14, 2007 3:48am
No major move just yet, GBP/JPY is moving up and down for a 50 pip bounce, no clear direction on the hourly yet.

GBP/USD is holding under 1.9514 area (price at News time 1 minute), but no move below 1.9508 as of yet.

Looking for 1.9492 or lower still for a short, and 1.9537 above for a long.
  • #6,155
  • Feb 14, 2007 3:48am Feb 14, 2007 3:48am
Quoting monarch
The High yesterday on the Daily was 1.9522, we have went above this point just during the London Open, would be interesting if we break above this and it becomes the support for a move upward.

I will be trading the news on a 1 minute chart - watching the 3 points of reference before entering a position.
The market is jumping up and down on that 9510 support. Interesting to see what transpires if breaks through.

If it doesn't, it looks like another channel ranging day until US announcements...
  • #6,156
  • Feb 14, 2007 3:53am Feb 14, 2007 3:53am
any body can expalin what is hapen to cabl now
  • #6,157
  • Feb 14, 2007 3:53am Feb 14, 2007 3:53am
Quoting goonergonebad
The market is jumping up and down on that 9510 support. Interesting to see what transpires if breaks through.

If it doesn't, it looks like another channel ranging day until US announcements...
I wouldn't doubt everyone just sitting tight on the GBP news, only about 3 1/2 hours until US news. Then they can blame it on the Americans if it doesn't go right. LOL
  • #6,158
  • Feb 14, 2007 3:57am Feb 14, 2007 3:57am
old support tl now resistance, old resistance tl now support
Attached Image
  • #6,159
  • Feb 14, 2007 4:09am Feb 14, 2007 4:09am
Quoting monarch
I wouldn't doubt everyone just sitting tight on the GBP news, only about 3 1/2 hours until US news. Then they can blame it on the Americans if it doesn't go right. LOL
Each new test of 9508/10 seems to trigger a flurry of buy orders. I wonder how much more fuel in support tank.
  • #6,160
  • Feb 14, 2007 4:11am Feb 14, 2007 4:11am
I think in the past for it to be a continued downside the breakout had to happen in the U.S. trading hours.

So it is waiting on the U.S. news to see if it should continue down.

If it doesn't it then is because the U.S. economy is not as strong as the forex was hoping for.

Does that make sense?
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