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Daily Cable Analysis

  • #6,281
  • Feb 15, 2007 9:55pm Feb 15, 2007 9:55pm
Looking at the 50 minute chart. Price bounced off the 50 ema.
trading on demo is not trading
  • #6,282
  • Feb 15, 2007 9:56pm Feb 15, 2007 9:56pm
excuse me I meant 15 min chart
trading on demo is not trading
  • #6,283
  • Feb 15, 2007 9:58pm Feb 15, 2007 9:58pm
Quoting 59fender
looks like a Piccasso
hahaha, i would have to agree with that
  • #6,284
  • Feb 15, 2007 10:47pm Feb 15, 2007 10:47pm
SWING with the TREND

http://img242.imageshack.us/img242/8186/gumz8.jpg
  • #6,285
  • Feb 15, 2007 11:15pm Feb 15, 2007 11:15pm
It's gonna be a real pain for GBPUSD to get over 1.9551 today.... Perhaps it will be below that until the news, but... Who knows??
I am just here to talk nonsense =D
  • #6,286
  • Feb 15, 2007 11:54pm Feb 15, 2007 11:54pm
Quoting enzo2325
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!
Sorry a question, If the EMAs are merging, does that mean anything?
  • #6,287
  • Feb 16, 2007 12:06am Feb 16, 2007 12:06am
If they are merging then there is going to be a breakout on the price. You want to watch the 50ema. if its below the others trend is down above up. In the middle then its making up its mind where it wants to go.
trading on demo is not trading
  • #6,288
  • Feb 16, 2007 12:13am Feb 16, 2007 12:13am
Quoting enzo2325
If they are merging then there is going to be a breakout on the price. You want to watch the 50ema. if its below the others trend is down above up. In the middle then its making up its mind where it wants to go.
thanks for clearing the air. so if i'm following your method right now, its on the bear trend?
  • #6,289
  • Feb 16, 2007 12:18am Feb 16, 2007 12:18am
Looking on the 15 min. chart price has bounced 4 times off the 50 ema which is about 9533-34

Lets see what price does. Macd are crossed up on the 60min chart. I dont see price rising too much. Im looking for a small target to go long and then short again.
trading on demo is not trading
  • #6,290
  • Feb 16, 2007 12:19am Feb 16, 2007 12:19am
Again im not a 100% sure. System is still fairly new and I didnt want to post it till I was gaining consecutive wins. So please dont take trades based upon what im doing. Check out my system and yours and see if you see whats happening. I dont want anyone pointing fingers at me. Im just trying to help...
trading on demo is not trading
  • #6,291
  • Feb 16, 2007 12:43am Feb 16, 2007 12:43am
Quoting HelloDollie
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
Quoting Bradone
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
Thank you dollie, thank you Brad! Brad you gave me treasure of indic. What do those two lines indicate in MACD
  • #6,292
  • Feb 16, 2007 1:37am Feb 16, 2007 1:37am
Quoting enzo2325
Again im not a 100% sure. System is still fairly new and I didnt want to post it till I was gaining consecutive wins. So please dont take trades based upon what im doing. Check out my system and yours and see if you see whats happening. I dont want anyone pointing fingers at me. Im just trying to help...
Thanks Enzo...

There's no fail-proof system. As long as it goes profiting more than loosing, it will be a good system to trade.

I never jump in a system I just met. I like to go on watching for some days. That's what I'll be doing.

Thanks for sharing.
  • #6,293
  • Feb 16, 2007 1:55am Feb 16, 2007 1:55am
Quoting enzo2325
Again im not a 100% sure. System is still fairly new and I didnt want to post it till I was gaining consecutive wins. So please dont take trades based upon what im doing. Check out my system and yours and see if you see whats happening. I dont want anyone pointing fingers at me. Im just trying to help...

Enzo, do appreciate your sharing your system... a day or two ago, you were anticipating a down move on cable before some major news, and it happened.

Do you exit your trades before news, or have wide stops... how has your system fared in the past before big news that can supposedly move cable couple of hundred pips?

Thanks in advance for the reply... news impacts my quite bad as I tend to exit my technical trades before news time, and often price moves 100 pips without me on the train.

Would welcome others' take on the news as well.
  • #6,294
  • Feb 16, 2007 2:29am Feb 16, 2007 2:29am
price is now sitting right on the trendline
Attached Image
  • #6,295
  • Feb 16, 2007 2:35am Feb 16, 2007 2:35am
My 5 min EMA chart strategy shows 9, 20 and 50 EMAs nicely fanned out to down side. Do you think that after a moderate retrace the trend will continue down at least until US news at 1.30 GMT?
Attached Image
  • #6,296
  • Feb 16, 2007 2:50am Feb 16, 2007 2:50am
The trend my go sideways until USD announcement. There is another EUR announcement at 5AM EST that may or may not effect the GBP.
Show me the PIPS!
  • #6,297
  • Feb 16, 2007 3:41am Feb 16, 2007 3:41am
Guys I M not technical strong but i read little of Elliot wave ie it has 5 & 3 wave.On this i study market moment on paper with my pen.......
Well we are in Wave 4 of wave C...........

Wave 1 - 1.9675 to 547 (Truncated) complete 128Pips

Wave 2- 9547 to 9618 complete 71 pips

Wave 3- 9618 to 9475 complete 148 pips

Now we R in wave 4

Wave 4 -9475 + 75 pips = 9550

Wave 5 -9550 + 130 pips= 9420 this is where market goes after US market open & therefore it means US market will create positive effect on market......

Guys wat ur thinking about market .............this how I m seeing the market.


Shivaji.........
"Trade for sake of trading & not for winning or Lossing"
  • #6,298
  • Feb 16, 2007 3:42am Feb 16, 2007 3:42am
So what's your prediction for the news.?

Quoting tathlynq
The trend my go sideways until USD announcement. There is another EUR announcement at 5AM EST that may or may not effect the GBP.
  • #6,299
  • Feb 16, 2007 3:46am Feb 16, 2007 3:46am
Thanks again for your input, it is very insightful! Before your post I was actually told we were in a wave that matched up closely with yours. I agree with your figures for today since I fully expect NEGATIVE US news yet again today! As always we could be surprised and the figures come in better than expected...... nobody will know until 8:30 AM EST!
Show me the PIPS!
  • #6,300
  • Feb 16, 2007 3:50am Feb 16, 2007 3:50am
As noted above I fully expect NEGATIVE US data today but as always I could be wrong! I do believe we will see a bounce from the 1.9470 level to 1.9551 area today but again...this is just one traders opinion based on his charts.
Show me the PIPS!
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