Daily Cable Analysis

See we just had a little uptrend action but if you look on the 60 minute chart with that chart set up. The macd never crossed or came close to it. So if you would have taken the trade you could of made some pips. But, thats being an aggressive trader and that has lost me lots of money in the past. So I am more determined to take good trades that bring me BIG profits. We will see whats going to happen in a couple minutes here with the news

1.9556 is the 100 ema cable is about to bust through this hopefully. once it does we look for 1.9538

I feel a really big move coming soon....!

Enzo, are you thinking to could retrace to around 9506?

Well now it just passed the 100 ema We now look for 9538 then yes 9506. But please do not place trades on what im trading you have to see for your self as well. I dont always win my trades...

Enzo, do you place this system on any other time frame and what other chart time frames do you use to monitor your trades?

Thanks

Hi Enzo!

Thanks for sharing. I have a doubt concerning the direction. What gives you the direction? The MACD? You said that on 02/13 and 02/14 the price bounced of the 200 EMA but on 02/13 it touched and retraced but on 02/14 it pierced. So I'm a bit confused...

Another thing, the drawing of the Fib's, do you always draw it from down to up? Wouldn't make more sense to draw from the low to the high in an up trend and from high to low in a down trend?

Thanks again.

to answer both of your questions.

First the times frames I use the 60 minute as my main timeframe. I also look at the 15 minute chart.

The direction...is the macd. When it crosses on the 60 minute it is more reliable then if it crosses on the 5 or 15 chart. If it peirces through just keep on riding it. Thoses are usually points to get out the ema's and the fibos. But of course if it goes through it just ride the wave. I draw the fibs from low to high, high to low. Whenever I find a high or a low I run a fibo even if its a small run up or down.

Just like now the price was going back up. On the 5 and 15 min chart the macd crossed but not on the 60. So just think with the 60 min chart. Well folks this is Monarchs thread and I dont want to post too much so please private message me if you have any questions. I might be done for the week total of 526 pips!

Made 12 pips easily. A question for clarification purposes:

If say the candle pierces the ema or the fibo number then you keep letting it ride, is that correct?

If the candle comes to an ema and a fibo number it's an exit point, correct?

Thanks!

Sami thats up to you to decide. I gave you a guideline. I like to exit at those points unless I feel its going further down.

next target, 1.9509 ,61.8% fibo .


not a trade recommendation

I mean i have metatrader and it doesnt have those two charts ( red and blue) apart from histogram. it has only one. i changed my setting to yours. my MACD still looks different

look at the top

insert --- indicator --- MACD
insert--- indicatoe ---- trend --- Moving average

Money

I hope I read yr post right... are you looking for the MACD indic which shows histogram plus the 2 lines ?

If that is what you are refering too its a custom indic for meta that you can download or I can email it to you.

Regards
Dollie

Here is a link to 1000's of indicators for MT4. You want a 2 line MACD which is what I use.

http://www.lightpatch.com/forex

Brad

Hey guys!

Im really glad everyone is enjoying my new system. I have had some really nice compliments on it and I am glad I can help everyone out. Looking at the 60 min chart. Looks like the Macd is about to cross to the upside.

Fibo from 1.9400 to 1.9677. Price bounced off the 61.8% 9506 as I predicted earlier today. That would of been a good entry to go long but I was at work...

Hey Enzo,

Regarding your method of trading, which time frame do you use for hi/lo to set up your fibo's? Or do you just use the most recent move regardless of whether one day or three? Thanks for your reply.

PickensrulzHey Enzo,

Regarding your method of trading, which time frame do you use for hi/lo to set up your fibo's? Or do you just use the most recent move regardless of whether one day or three? Thanks for your reply.



I use the 60 minute chart to draw fibos. Its not a matter of days. I use the recent high and low or low and high. I also watch the ema's on the 15 minute chart and sometimes 5 just to see how price is acting upon them.

You know its only a few pips away from there right now. Im going to look into your system and how it works to see if it can compliment my style of trade as is. Even if it doesnt, i commend you for all your work and for the belief of sharing a good thing. good luck trading.