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Daily Cable Analysis

  • #6,401
  • Feb 18, 2007 6:10pm Feb 18, 2007 6:10pm
I'm with you on that one fender. I'm seeing a test of the longterm uptrend line.
  • #6,402
  • Feb 18, 2007 6:20pm Feb 18, 2007 6:20pm
Quoting 59fender
1.9375 anyone?
1.9375 would be a nice test of the low that is showing in vlazaf chart above.

I have 1.9465 area for a re-test, but stranger things have happened.

Consensus is Cable Bullish from a lot of others.

EMA 250 was 1.9565 (just tested this line)
SMA 62 is around 1.9555
SMA 55 is around 1.9550

The high since market opened has tested these EMA's and SMA's
TheCableGuy
  • #6,403
  • Feb 18, 2007 6:26pm Feb 18, 2007 6:26pm
Monarch,

"I do have a Entry Waiting at 1.9465 for the second test of Fridays Low."

Why do you think it will test Friday's low instead of just filling in the gap?

Thanks -

Confirming Gap - see attached chart
Attached Image
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,404
  • Feb 18, 2007 7:13pm Feb 18, 2007 7:13pm
Quoting Sami7
Monarch,
Quoting Sami7

"I do have a Entry Waiting at 1.9465 for the second test of Fridays Low."

Why do you think it will test Friday's low instead of just filling in the gap?

Thanks -

Confirming Gap - see attached chart
Actually reviewing your question would place some doubt in my projection of testing the 1.9460 area.

I will take a further look into about 10 different key levels that have been tested at both support and resistance.

I have several engagements now, so I cannot complete this until later this evening.

I am going to consider a Long (entry waiting) at 1.9508-9 since it was the news key level last friday.

This entry would place a rather large stop with my expectation of going down to 1.9480 and 1.9460 areas before actually bouncing upwards this week.

This is where I will have a 2nd Long entry waiting.

Thanks Sami for making me dig deeper into the charts and data.

Ken
  • #6,405
  • Feb 19, 2007 1:08am Feb 19, 2007 1:08am
Just sitting here kicking back at the Frankfurt, anyone have any ideas or suggestions to keep me busy?

Looks like it's just hanging around the 1.9540 area so far today.
  • #6,406
  • Feb 19, 2007 1:10am Feb 19, 2007 1:10am
www.addictinggames.com

its kept me busy for hours haha. Not much action in the market yet...
I dream, therefore I become.
  • #6,407
  • Feb 19, 2007 1:31am Feb 19, 2007 1:31am
Well I had said on Firday That I thought price would retrace to the fibo levels and then drop again. Almost touched my 38.2% fibo 9571. So I took profit and went short at 1.9554. I feel that we are going back down. There is Divergence on my 15 and 30 minute charts. Also my Macd are crossed down. Good night all!
trading on demo is not trading
  • #6,408
  • Feb 19, 2007 1:34am Feb 19, 2007 1:34am
This is what I am thinking, especially since the EMA on the Hourly has held strong resistance so far today.

I am keeping an eye on the Hourly, this is helping decide if there will be a move down here at London.

Thanks
  • #6,409
  • Feb 19, 2007 1:43am Feb 19, 2007 1:43am
price is now sitting on 61.8% level (08.01.2007 to 23.01.2007) the lower tl of the channel holds well. divergence is seen on the daily chart and 4h chart as well , lows are geting higer but in the rsi they are in the same level. altough price can test support level but bias is still up unless price break the channel downwards.
Attached Image
  • #6,410
  • Feb 19, 2007 2:16am Feb 19, 2007 2:16am
Quoting monarch
Every Market open that leaves a gap in price from the open price on Friday to the open price on Sunday usually returns back to fill the gap.

Todays gap:
Daily Candle
Friday open price was 1.9509
Market Open Today at 1.9541

I expect a return back to test the 1.9509 gap area, I have no entry while the market is not completely open and US has a Holiday Monday.

I do have a Entry Waiting at 1.9465 for the second test of Fridays Low.

From there I have a Long set for the move up to the 1.9735-47 area.
Well there is the Fill of the Gap. Price just came down to 1.9501 to fill the 1.9509 gap.
  • #6,411
  • Feb 19, 2007 2:36am Feb 19, 2007 2:36am
Quoting HonaForex
Guys Market have to go 1.95540/60 range to complete the wave 4 where it is acutally oscillating right now but next news Form US will do that...............Untill than market will not be bearish what u feel guys


Shivaji


Hallo guys I M back on work well my wave 4 is complete at 1.9558 on my chart well as per my calculation market will be now bearish to complete wave 5 & in which wave 1 is allready completed at 1.9500 & it is wave 2 which will complete at 1.9530..............& from here wave 3 starts.............who r with guys..............Have nice week.......hahahah
"Trade for sake of trading & not for winning or Lossing"
  • #6,412
  • Feb 19, 2007 2:40am Feb 19, 2007 2:40am
Frankfurt Open - 1.9544
Frankfurt High - 1.9547
Frankfurt Low - 1.9522

London Open - 1.9532

Price dropped below the 1.9522 (Frankfurt Low) down to 1.9501.
Now expecting price to come back up to test 1.9522 before a further move down.

1.9521 is the 38.2% Fibo Retracement from the move down on the 5 Min. Candle
High 1.9554
Low 1.9501
38.2% - 1.9521 (1 pip below the Frankfurt low)

Retrace up to 1.9516 so far, if price stays below 1.9521, I expect a further drop down now.

Next lower level would be 1.9494
  • #6,413
  • Feb 19, 2007 3:03am Feb 19, 2007 3:03am
Quoting monarch

Actually reviewing your question would place some doubt in my projection of testing the 1.9460 area.

I will take a further look into about 10 different key levels that have been tested at both support and resistance.

I have several engagements now, so I cannot complete this until later this evening.

I am going to consider a Long (entry waiting) at 1.9508-9 since it was the news key level last friday.

This entry would place a rather large stop with my expectation of going down to 1.9480 and 1.9460 areas before actually bouncing upwards this week.

This is where I will have a 2nd Long entry waiting.

Thanks Sami for making me dig deeper into the charts and data.

Ken
Upon review of the Hourly and Daily Candle I removed the Entry Long at 1.9509, and have kept my Entry waiting to go Long at 1.9465, with a second Entry waiting Long at 1.9440 point.

Even though price could rise from the 1.9494 point , I expect the price to fluctuate in a channel of 1.9494 to 1.9540 in today's session.

The next major GBP news will be coming out during the Tuesday and Wednesday sessions, this should be the primary factor in the movement upwards this week.
  • #6,414
  • Feb 19, 2007 3:23am Feb 19, 2007 3:23am
Quoting 59fender
1.9375 anyone?

Hey i do believe that before market starting upward journey
"Trade for sake of trading & not for winning or Lossing"
  • #6,415
  • Feb 19, 2007 3:54am Feb 19, 2007 3:54am
Price dropped below the 1.9522 (Frankfurt Low) down to 1.9501.
Now expecting price to come back up to test 1.9522 before a further move down.


Looks like the 1.9522 was just tested, what do you expect if it breaks this level and goes upward and breaks beyond the 50% at 1.9527 and 61.8% fibo retracement at 1.9533?

N2FX
  • #6,416
  • Feb 19, 2007 4:19am Feb 19, 2007 4:19am
wow, I hate to use TP orders
  • #6,417
  • Feb 19, 2007 4:22am Feb 19, 2007 4:22am
woah somebody sold alot, did something happen in uk?
  • #6,418
  • Feb 19, 2007 4:22am Feb 19, 2007 4:22am
When the BOE talks....TRADERS LISTEN

Reminds me of those old commercials
  • #6,419
  • Feb 19, 2007 4:23am Feb 19, 2007 4:23am
wtf has just happened?? ((
{promo removed}
  • #6,420
  • Feb 19, 2007 4:24am Feb 19, 2007 4:24am
Quoting SirKhan
wtf has just happened?? ((
BOE released a statement that was not Cable supportive
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