Daily Cable Analysis

Thanks to you as well Monarch ... hv a good weekend.

Learn as much as you can. Seeing you have two posts, your probably in the same boat as i was when i started, not knowing very much. I dont want to give you advice on which direction, because just like i did, you would probably just go in that direction without a thought of it. Learn all you can about price action and READ READ READ brother. I know the reading will suck but trust me, itll pay off in the end.

Important :

Friday is dead, time to chat....., dont watch the screen.

If today closed between/around 9508, then monday is bullish. (hope)
if monday is bullish then i would be seen 9900 again . ( hope again)
because i want have a few short at 9900.. and holding it until 9500 ( hope hope again).

hope is the truth, with all the knowledge there are still room for hope.
everybody always hope something. So pls have bigger hope again.

Bravoooooo Hope !

Im with you on that, but with one thing differently. I doubt well be seeing 9900 very soon. Probably around 3 weeks from now just by looking at the weekly ranges for this pair. Good luck to you in your trading.

just so everyone knows, not only is there a reversal signal on the daily charts but also on the weekly charts as well.

Okay, good luck too,

Hope , if true bullish , 1 target my : 9726. 1 week hope.
2 target my : 9841 2 week hope
3 target my : 9900 3 week u hope, ah is a deal, lets shake hand......... bravo bravo.......

but weekly average my around 250 -300 hope so .. take the calculator, hope find best entry long. this few thay i was only got BE. ( fail hope )

zzzzzzz, nobody here, good i like to be alone

15 minutes to find my calculator....

1 week : 9726-250 = i got 9476 my entry long ( if bullish , hope)
and exit around 9726 , ah sound good, then short
again for little pip to 9600, sound not bad.
2 week : 9841-250 = i got 9591 my entry long ( hope again ),exit around
9841 then short again to 9700, sound great.
3 week : 9900-250 = i got 9650 my entry long ( big hope) and exit around 9900,
then short to dead. ( nooo, not dead sorry)
to 9500 is enough for my need like a,b c etc...

this write is my friday sindrom, actually hope not.

( dont believe me , is only for chat ) hope yes .

I still think we are going down. Price might retrace to 9596-9657. Then I beleive we are going back down to 9261. I am not giving up on that!!

enzo, you and i have something similar i think.

That was we both have Hope ....

that was the best part...........make me still living

I have good solution :

I pray now when sydney open price jump to 9900, so we all have good entry for short, then price close that day at 9261 so we all have good exit... oh my it was 639 pip ( according to my calculator) .......... wow.

( i am only killing time now, dont take serius ) / actualy i hope it happend.

Price bounced off the 100 ema on my 15 min chart. Also price retraced to the 61.8% mark. So there is a bit of resistance there. im still short from 9538.

There is gonna be no movement today since everyone took profits and got out. Monday is a new week But I don't like trading on Sunday's or Monday's. That's the best time to loose money in my opinion since the market is still thinking where it wants to go. So good luck everyone and im taking my profits too now cause I'm partying this week. Its been an extremely good week for me

I thought I would post a chart that would have some eyes pop out and some tongues say "what in the world is that".

This chart is the Daily, and the periods between the movements.

Average left period to middle is 42 days, and the middle to the right is 44-45 days.

Since the price hit a high at 1.9914 (the Middle) we are 21 days into the right side period.

That would leave 23-24 days left in this side of the middle.

I have a box that is up around the 1.999 area, but that is not to say I believe it is going there.

It could easily say adios to the whole upwards movement, and drop to the ground tommorow - these things we do not know.

On the chart I have yellow lines that are from one low to the next low in the triangle above it. If price continues to follow suit, the lowest we will see in this 23-24 day period would be the low at 1.9400 we have already accomplished.

This chart is sure showing a Bullish move upwards, I would expect that the 2's are still in order.

By the period projection it may take the next 3 weeks of bouncing inside this range we have been in since around Dec 1st, 2006.

One more note:

There are three times the price moved upward and crossed into the next triangle area.

- In the first move up there was 440 pip range from the point of entry to the cross into the 2nd triangle.

- Then from the cross from the 2nd to the 3rd triangle we are in right now, it was 640 pips.

Average between the 2 previous distances was 540 pips
That would place our next cross at 1.9930

The 440 pips distance would place the next cross/high at 1.9830

And the 640 pip would place the next cross/high at 2.0031

This is for observation use only, not recommended for any trading entries.

Enjoy the weekend everyone!

what in the world is that is right haha. looks good though once you get past the dizzying colors. I sure hope that triangle thing is right, cuz thats what ive thought too. have a good weekend everybody.

Well considering the mathmatical equations that are involved in the market, why not place the price and the direction into an area of a equilateral, isoceles, or a scalene triangle.

We do the same type of placement with trend lines, Fibo, and Elliott Waves.

We can see from the past that the currency has a memory, it also has guidelines that it falls into on a daily basis. These guidelines are like nature in itself. It is best said like this "what goes up must come down," but also what comes down, will go back up.

Many traders watch the long term trending cycle to see if it is heading in that direction, but I would say most traders on the thread are not long term traders, but simple day scalpers who are happy when they make 50 pips or so a day, and not give them all back.

For that reason I disect the Long Term in fragments of time, and so does everyone else when they reduce a Monthly or Weekly candle into a 5 or 15 minute candle. They all react the same, they all take the same formations during a trend, or during a reversal. They all have Fibo cycles, and it will re-test key levels before moving onward.

The problem is defining the actual movement that is taking place at the present.

It is very easy to look back and say, oh, I should have done this or I should have done that. We need to look back and say, oh, it did this, it did that, and project from its previous moves, and formations. During trends and daily analysis we should be able to project the upcoming setups within striking distance, without some large stop loss.

Itme has the right idea, place your entry, set a small stop loss, if it hits the stop thats okay, just re-enter at a more precise point saving yourself the large drawdown.

What about the news? Well it's simple, usually the news makes the movement, but it will also press the currency forward to complete the cycle and reveal a continuation of a trend, or a trend reversal.

This is the beauty of it all - Fibo's, EW's, Supports/Resistances, Head and Shoulders, and other strategies help us analyze the direction it came from so we can calculate (at a close proximity) the actual direction it "should" go.

I have a Daily Chart here showing when it moved into the new range back in November and December of 2006. From this point we have followed it's every move from Highs to Lows, and from Lows to Highs.

Meantime it has been in a nice 440 pip channel/range.

I have placed 90 degree triangles at the highs and lows of the range, the different triangles show:

The first one bottom left is the entry into the new range, then the high one at 1.9840 (first upper left triangle), actually the 1.9826 area was the actual high point in the range which is confirmed in the 2nd triangle on top right.
(wicks are sometimes higher, but I reference the body when forming tops and bottoms)

On the lows we have 1.9450 area being the actual bottom, but we did see a drop to 1.9260, but 1.9294 (body) was the key low price in the extension of the low move shown in the lower middle triangle.

This week the low was 1.9450 (body of candle) exactly at the low of the 1st lower triangle on the left. Today the low was at 1.9460 (10 pips above the low at 1.9450).

I would think by looking at the daily candle we should see a move lower at the market open time to the 1.9427 support, but once the entire market is moving on Tuesday I expect a move upwards bouncing off of the support low at 1.9450 area for a re-test of 1.9727/35/49 area, then a downward test at 1.9550/80 area.

This is just a simple analysis I put together here the last 30 minutes.

Not to be confused for a trade recommendation, but a nice topic of conversation amongst the scholars in this thread.

Hope your having fun trading, I am!

Wave C downwards had finished @1.9400 (well, it turned out that the subwave 5 was an ending diagonal), and was followed by a quick powerful 5-wave upthrust (wave 1 or A) to 1.9676.
Currently it has retraced ~76.4% back from its top to form wave 2 or B (to 1.9463)? This is still unsure yet, to be confirmed early next week.

If wave 2 or B has ended @1.9463, possible lengths of wave 3 or C might be:
- 61.8% of wave 1 or A (171 pips), targetting 1.9634.
- 78.6% (217 pips), targetting 1.9680.
- 100% (276 pips), targetting 1.9739.
- 161.8% (447 pips), targetting 1.9910.

Just my opinion.

Daily Triangle Chart.

Color is beautiful, black background so you can't print it - if you do it could cost you 100 pips.

Another way to watch price direction, I am only showing chart, but not really giving much explanation, sorry for that.

I have to go to a BBQ, gonna be a blast.

Great weekend to all!

Hope is all good and well for life in general but BAD for trading.

Place your entry and stop and take what the market gives you.

in 4h chart there is lower highs in price but in the rsi we have higer tops.this divergence indicates long.

therefore, i expect a bullish move in the coming days.

Quoting SunTrader

Disliked

Hope is all good and well for life in general but BAD for trading.

Ignored

Hope is the sustaining power of life, without it, we are most miserable.

But don't kid me, we all have entered trades and only hoped it would turn around and go our way, but it doesn't. Therefore hope is the backup system in every trader who takes a position, and soon finds that it was the wrong decision.

I have never been able to seperate this hope from the very fibers of my mental or emotional state in life, or in trading.

So, I will continue to "hope" when I make a right trade so more pips will be added to my account, or when I enter a wrong trade, hoping that it would turn around real soon.


Hope you enjoy trading, I do!