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Daily Cable Analysis

  • #6,341
  • Feb 16, 2007 9:21am Feb 16, 2007 9:21am
Quoting TheCableGuy
The price was at 1.9485 at news time 8:30 am EST.

This should act as a support if there is a Long in the works.
as it seems to be right now. Nice thought on that cable guy, i know i wasnt about to think of that.
I dream, therefore I become.
  • #6,342
  • Feb 16, 2007 9:26am Feb 16, 2007 9:26am
Nice Pin Bar setting up on the Hourly, but it would need close above 1.9485 to be a Long setup.

Still, there is not much movement for all the news that was released today.

Looks as if there may be conflicting reports that kept the price basically where it was before we got the news.

Friday Blues, may be a great time to go get coffee and a haircut.
TheCableGuy
  • #6,343
  • Feb 16, 2007 9:28am Feb 16, 2007 9:28am
Quoting JimboFX
Don't get me wrong - the market will be open but expect light volume on Monday throughout the day. Think of it that way - without US participating there might be some 'crazy' movements during the Asiain and European sessions and if you have a profit from yesterday/today would you take it or leave it on the table ?


I prefer london market ove US any way.

I could care less about US market. Just my opinion.
Pipology 101 student
  • #6,344
  • Feb 16, 2007 9:28am Feb 16, 2007 9:28am
Quoting musicman007
After much consideration and technical analysis I believe that it is absolutely the right time to go Long...., sorry, Short...erm...Long, no no, definitely short, on the other hand....

Hey short now dude is also not bad move bcos market looks very bearish but i frimly belive that market will have to go 1.9550/60 & than moving downward rally...............This wat i m feeling of my study but 1.9500 is giving tough resistence from yestraday for bears & now its giving to bulls.
"Trade for sake of trading & not for winning or Lossing"
  • #6,345
  • Feb 16, 2007 9:41am Feb 16, 2007 9:41am
Quoting HonaForex
Hey short now dude is also not bad move bcos market looks very bearish but i frimly belive that market will have to go 1.9550/60 & than moving downward rally...............This wat i m feeling of my study but 1.9500 is giving tough resistence from yestraday for bears & now its giving to bulls.
I went long at 80 and when it hits 9500 thats me finished for the day. Various indicators and systems say that the top should be around 9505 shortly. May even fail at 9498 being the 38.2 fib retrace on today 15 min. Although 9535 would take us to 78.6 on 4 hr and right back where we startted the week from.
  • #6,346
  • Feb 16, 2007 9:44am Feb 16, 2007 9:44am
could we end up with the same closing price as yesterday?
  • #6,347
  • Feb 16, 2007 9:48am Feb 16, 2007 9:48am
Quoting 59fender
could we end up with the same closing price as yesterday?
Thats how I see it at present.
  • #6,348
  • Feb 16, 2007 9:50am Feb 16, 2007 9:50am
Quoting 59fender
could we end up with the same closing price as yesterday?
btw. I am closing at London time not US !
  • #6,349
  • Feb 16, 2007 9:51am Feb 16, 2007 9:51am
Quoting musicman007
btw. I am closing at London time not US !
well that doesn't count lol
  • #6,350
  • Feb 16, 2007 9:52am Feb 16, 2007 9:52am
I was short from 540 yesterday afternoon, but my T/S was hit during the News spike this morning for a 25 pip profit. I'm out for the rest of the week. Some good volatile ranging action occurred this week to allow us to steal a few pips from the market. Enjoy and have a great weekend.
  • #6,351
  • Feb 16, 2007 10:01am Feb 16, 2007 10:01am
We started the Long at 1.9400 up to 1.9677 two days ago.

After the High was reached at 1.9677 we have seen all three major Fibo retracement levels completed so far to date.

38.2% - 1.9574
50% - 1.9540
61.8% - 1.9507

Price has went to a low of 1.9462 after news came out this morning, but now is straddling the 1.9485 mark.

During the First 1 Minute candle at the US News price shot up to 1.9508 - right on the 61.8% Fibo level shown above.

From watching the recent Retracement, each Fibo level was reached, then breached, the price back back up to test the Fibo Level before continuing downward.

The key level now is 1.9508, this must become a support prior to any Long attempt.

News has not reversed the downward retracement move yet, therefore we should consider the 100% retracement to 1.9400.

We probably won't see much action towards either goal here today, but after market opens Sunday, the direction will be revealed more clearly.
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  • #6,352
  • Feb 16, 2007 10:03am Feb 16, 2007 10:03am
Quoting musicman007
I went long at 80 and when it hits 9500 thats me finished for the day. Various indicators and systems say that the top should be around 9505 shortly. May even fail at 9498 being the 38.2 fib retrace on today 15 min. Although 9535 would take us to 78.6 on 4 hr and right back where we startted the week from.

Musicman, would be glad to learn which indicators you use for anticipating the top/close of the market besides fibos.

BTW, just exited near 9500 with +22 pip.
  • #6,353
  • Feb 16, 2007 10:05am Feb 16, 2007 10:05am
Monarch, just a point to add, 1.9462 recent low is the ~76.4% fibo of 1.9400 - 1.9676.
Tra-X
  • #6,354
  • Feb 16, 2007 10:10am Feb 16, 2007 10:10am
Quoting Traex
Monarch, just a point to add, 1.9462 recent low is the ~76.4% fibo of 1.9400 - 1.9676.
I thought of that after I posted, but it does not come up when I show charts.

Thanks for the heads up on it.
  • #6,355
  • Feb 16, 2007 10:11am Feb 16, 2007 10:11am
Quoting pipSeeker
Musicman, would be glad to learn which indicators you use for anticipating the top/close of the market besides fibos.

BTW, just exited near 9500 with +22 pip.
Me too at 9500. Well I am using the Sidus method from another forum on here together with fib levels, parabolics and a good healthy dose of cross checking across multiple timeframes to guage sentiment.

Now, beware a reverse at 9508.
  • #6,356
  • Feb 16, 2007 10:13am Feb 16, 2007 10:13am
Quoting musicman007
Me too at 9500. Well I am using the Sidus method from another forum on here together with fib levels, parabolics and a good healthy dose of cross checking across multiple timeframes to guage sentiment.

Now, beware a reverse at 9508.
oops, forgot to mention macd as well.
  • #6,357
  • Feb 16, 2007 10:16am Feb 16, 2007 10:16am
Quoting musicman007
Me too at 9500. Well I am using the Sidus method from another forum on here together with fib levels, parabolics and a good healthy dose of cross checking across multiple timeframes to guage sentiment.

Now, beware a reverse at 9508.
Thanks musicman... LOL - here comes the reverse scalp at 9508
  • #6,358
  • Feb 16, 2007 10:25am Feb 16, 2007 10:25am
Still keeping an eye on the breakout at 9516... wondering if market has gone to bed for the weekend or is it just the calm before the storm
  • #6,359
  • Feb 16, 2007 10:27am Feb 16, 2007 10:27am
There is a possibility of a Bullish Pin Bar setting up on the Daily.

Price would have to close today above the white line shown on the charts at 1.9508 minimum.

I have a Long entry waiting at 1.9541, once the top of the Previous candle is breached.

Or if there is a drop down before close today, there could be a continuation downwards which I have a Short Entry waiting at 1.9461 which is the bottom of the daily candle right now.

With about 5 hours left in todays Hourly Candle, it remains a Doji of uncertain direction.

Have a wonderful weekend everyone.

Thanks for all the informative posts!

Note:
I will not enter either position until Market Open on Sunday. This Daily Candle must first close to give me the perimeters, and the candle formation I am looking for.
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  • #6,360
  • Feb 16, 2007 10:29am Feb 16, 2007 10:29am
hi guys..
g/u will down more or not? give advise..

thanks
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