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Daily Cable Analysis

  • #6,461
  • Feb 19, 2007 10:52am Feb 19, 2007 10:52am
What do you think the high for today might be? I know your good with the math calculations and projected price range...
trading on demo is not trading
  • #6,462
  • Feb 19, 2007 10:54am Feb 19, 2007 10:54am
Quoting Jon Reed
What is the point of having two threads both dedicated to the analysis of the GBP/USD cable? Why don't we just keep all discussion to one thread or the other?
http://www.forexfactory.com/images/misc/progress.gif

Hey man there must be freedom & i like that,i m new to forex & before i use to trade only Eur/Usd & only cable when i seen Monarch post here & i was very impressed by his study but i do not understand him bcos very he his much Experinece to me i believe & i m very new but in forex factory there many good thread but i stick to this only & i do confuse myself with other calculation.............there4 go where u r comfortable..............bocs there is nothing perfect,U R alone perfect see where ur perfection is manifested & go there ............all the best.................happy trading
"Trade for sake of trading & not for winning or Lossing"
  • #6,463
  • Feb 19, 2007 10:55am Feb 19, 2007 10:55am
Cable's recovery was limited at 1.9562, failing to take out 4 hours 55 EMA (now at 1.9551). Subsequent decline has pushed cable to as low as 1.9429. At this point, as long as cable stays below 1.9562 resistance, further decline is expected to follow towards 1.9400 low. break will encourage further decline towards 1.9237/61 cluster support (23.6% retracement of 1.7047 to 1.9913 at 1.9237).

Above 1.9562 will suggest the fall from 1.9679 has completed and should bring rebound. However, as discussed before, previous break of rising trend line support (1.8517 to 1.8834) indicates the rally from 1.8517 should have already completed at 1.9913. Therefore, as long as cable stays below 1.9731 resistance, the fall from 1.9913 could still extend further.

In the bigger picture, bearish divergence conditions are being displayed in weekly RSI, daily MACD and RSI already, suggesting that the whole up trend from 1.7047 might have completed before reaching mentioned 2.0106 cluster resistance (1992 high, 100% projection of 17047 to 1.9024 from 1.8090 at 2.0067). Focus is still on 1.9237/61 cluster support. Decisive break of 1.9237/61 cluster support will add much weight to the case that whole medium term up trend from 1.7047 has already completed much deeper decline should be seen towards next cluster support at 1.8834 (38.2% retracement of 1.7047 to 1.9913 at 1.8818) first.

However, strong rebound from 1.9237/61 cluster support or break of 1.9731 resistance. will indicate that the current fall from 1.9913 is merely correction to the rise from 1.8517 only and cable could make another high above 1.9913 and attempt to meeting 2.0106 cluster resistance before having a medium term reversal
trading on demo is not trading
  • #6,464
  • Feb 19, 2007 11:06am Feb 19, 2007 11:06am
Wat UR calucaltion says now,i mean does the Journey to UP is started now & fullfill ur creteria....................bcos before i was not with U & now the market as fullfilled my all creteria & is going up wat u feel................


Shivaji
"Trade for sake of trading & not for winning or Lossing"
  • #6,465
  • Feb 19, 2007 11:08am Feb 19, 2007 11:08am
Quoting enzo2325
Cable's recovery was limited at 1.9562, failing to take out 4 hours 55 EMA (now at 1.9551). Subsequent decline has pushed cable to as low as 1.9429. At this point, as long as cable stays below 1.9562 resistance, further decline is expected to follow towards 1.9400 low. break will encourage further decline towards 1.9237/61 cluster support (23.6% retracement of 1.7047 to 1.9913 at 1.9237).

Above 1.9562 will suggest the fall from 1.9679 has completed and should bring rebound. However, as discussed before, previous break of rising trend line support (1.8517 to 1.8834) indicates the rally from 1.8517 should have already completed at 1.9913. Therefore, as long as cable stays below 1.9731 resistance, the fall from 1.9913 could still extend further.

In the bigger picture, bearish divergence conditions are being displayed in weekly RSI, daily MACD and RSI already, suggesting that the whole up trend from 1.7047 might have completed before reaching mentioned 2.0106 cluster resistance (1992 high, 100% projection of 17047 to 1.9024 from 1.8090 at 2.0067). Focus is still on 1.9237/61 cluster support. Decisive break of 1.9237/61 cluster support will add much weight to the case that whole medium term up trend from 1.7047 has already completed much deeper decline should be seen towards next cluster support at 1.8834 (38.2% retracement of 1.7047 to 1.9913 at 1.8818) first.

However, strong rebound from 1.9237/61 cluster support or break of 1.9731 resistance. will indicate that the current fall from 1.9913 is merely correction to the rise from 1.8517 only and cable could make another high above 1.9913 and attempt to meeting 2.0106 cluster resistance before having a medium term reversal
I have to print this out so I can follow it with the charts.

You have kept nice records of key pivots and Supp/Res.

I am watching the Daily candle for the day. I see a nice big doji with the price hanging around the market open price.

If the price rises up to the 1.9522 or above before candle close, I would expect a continuation of a bullish move.

Thanks for the nice information Enzo.
  • #6,466
  • Feb 19, 2007 11:10am Feb 19, 2007 11:10am
It's looking like a set up to go LONG on my charts! To what levels? Minimum levels I see are 1..9540 to 1.9550 area. We could have some initial retracement to the 1.9480 area. Above and beyond that it would need to break 1.9565 to signal the BULLS are back! If it can not break this line I look for the pair to drop some more to the 1.9400 area. We shall see. I hope my broker had a great holiday! HA!
Show me the PIPS!
  • #6,467
  • Feb 19, 2007 11:11am Feb 19, 2007 11:11am
Just trying to help... You helped me become a successful trader and I have so much more to learn. I'm 80 pips and I think im going to close out and go to work now Monarch .... Why can't I be trading 10 lots!!!
trading on demo is not trading
  • #6,468
  • Edited 11:22am Feb 19, 2007 11:13am | Edited 11:22am
Quoting HonaForex
Wat UR calucaltion says now,i mean does the Journey to UP is started now & fullfill ur creteria....................bcos before i was not with U & now the market as fullfilled my all creteria & is going up wat u feel................


Shivaji
Thanks for the kind words in reference to the thread.

My Entries were both triggered with the move down to 1.9430.

I had Longs waiting at 1.9465 and 1.9440.

My Target is 1.9735 for both Lots, but I am watching the Hourly and Daily closely to lock in profits as price stalls some around 1.9494 and 1.9522 later today. (had my Lot 1 stop at 1.9424, cleared it by 5 pips during the low)

The Low of Frankfurt was 1.9522, so once price breaks above this line, I would be more apt to continue in my Long positions.
  • #6,469
  • Feb 19, 2007 11:16am Feb 19, 2007 11:16am
Looking to push above the 1.9509 mark, next breaking point would be 1.9522 and 1.9541.

For every level breached will become the support for the bullish move.

1.9508/9

1.9522/24

1.9540/41

1.9565
  • #6,470
  • Feb 19, 2007 11:16am Feb 19, 2007 11:16am
K before I leave I ran a fibo from 1.9677-1.9429 As I said price would come back to these fibos. 9524 is the 38.2%. Thats where I will t/p because I dont want to be too greedy hahahaha maybe not. Price just passed through my 200 ema (9514) on the 15 min chart. Macd is crossed up on 15min and pretty soon on 60 min to confirm the move is still going up. Im thinking the high might be 9582. But anyway I have to go now. Good luck all
trading on demo is not trading
  • #6,471
  • Feb 19, 2007 11:20am Feb 19, 2007 11:20am
Quoting enzo2325
Just trying to help... You helped me become a successful trader and I have so much more to learn. I'm 80 pips and I think im going to close out and go to work now Monarch .... Why can't I be trading 10 lots!!!
You have cleared nice profits for the past few weeks, there is no reason why you can't slowly increase your lot sizes. I would raise it one lot at a time so you can adjust yourself slowly.

Soon, you will have others cooking at your establishment, while your clearing nice profits and just going there to enjoy eating and watching them work. LOL
  • #6,472
  • Feb 19, 2007 11:21am Feb 19, 2007 11:21am
Quoting monarch
Looking to push above the 1.9509 mark, next breaking point would be 1.9522 and 1.9541.

For every level breached will become the support for the bullish move.

1.9508/9

1.9522/24

1.9540/41

1.9565
Thanks for this Monarch,
  • #6,473
  • Feb 19, 2007 11:26am Feb 19, 2007 11:26am
Quoting tathlynq
It's looking like a set up to go LONG on my charts! To what levels? Minimum levels I see are 1..9540 to 1.9550 area. We could have some initial retracement to the 1.9480 area. Above and beyond that it would need to break 1.9565 to signal the BULLS are back! If it can not break this line I look for the pair to drop some more to the 1.9400 area. We shall see. I hope my broker had a great holiday! HA!
I would agree with it possibly going back up to test the 1.9550/65 high yesterday, then coming back down to test the 1.9480 as a support.

There is no big rush on for a bullish move just yet, we will still need the news tomorrow to help kick up the momentum.

This could be the channel for the day (1.9480/94 up to 1.9540/50).
  • #6,474
  • Feb 19, 2007 11:29am Feb 19, 2007 11:29am
Quoting monarch
Thanks for the kind words in reference to the thread.

My Entries were both triggered with the move down to 1.9430.

I had Longs waiting at 1.9465 and 1.9440.

My Target is 1.9735 for both Lots, but I am watching the Hourly and Daily closely to lock in profits as price stalls some around 1.9494 and 1.9522 later today. (had my Lot 1 stop at 1.9424, cleared it by 5 pips during the low)

The Low of Frankfurt was 1.9522, so once price breaks above this line, I would be more apt to continue in my Long positions.

Hey thanks man for ur sweat answer & i like ur opness to share with others & make them help some how...................cool ur 1.9509 is allready crossed & for me 1.9543 is perfect support for the journey & i have allready came out at 1.9500 with 250 pips allready cool naaaaaaaa.............


shivaji
"Trade for sake of trading & not for winning or Lossing"
  • #6,475
  • Feb 19, 2007 11:30am Feb 19, 2007 11:30am
Soon I will ... still testing out the new system so until I feel like I know it really well. Which will take a couple more weeks? I might just be doing what you said

Maybe we could both compare thoughts and theories while eating there haha.... But, as of now I have a lot of prep to do today and Won't be home till another 9 hours...Take care!
trading on demo is not trading
  • #6,476
  • Feb 19, 2007 11:38am Feb 19, 2007 11:38am
Well, looks like I'm getting greedy so It passed my initial t/p 9524... But I want more so im riding to the central pivot point 9544. nothing wrong with 20 more pips.
trading on demo is not trading
  • #6,477
  • Feb 19, 2007 11:40am Feb 19, 2007 11:40am
Quoting HonaForex
Hey thanks man for ur sweat answer & i like ur opness to share with others & make them help some how...................cool ur 1.9509 is allready crossed & for me 1.9543 is perfect support for the journey & i have allready came out at 1.9500 with 250 pips allready cool naaaaaaaa.............


shivaji
How many lots do you put on a trade?

Nice profits, wanna share some, I am only up 130 pips.
  • #6,478
  • Feb 19, 2007 11:47am Feb 19, 2007 11:47am
Quoting enzo2325
Soon I will ... still testing out the new system so until I feel like I know it really well. Which will take a couple more weeks? I might just be doing what you said

Maybe we could both compare thoughts and theories while eating there haha.... But, as of now I have a lot of prep to do today and Won't be home till another 9 hours...Take care!
Email me later today or IM when you have a chance, I would like to see your new system.
  • #6,479
  • Feb 19, 2007 11:58am Feb 19, 2007 11:58am
This is an update of the chart I posted during my projection from last Friday at Close of Market.

I have the Triangles showing the areas I am expecting price to move through.

From 1.9450 - I had price going up to 1.9735/47, then back down to 1.9550/80 area for a support on the push into the 1.9800 area.

The Daily candle has 4 hours until it closes, I am looking for the price to head up to close above 1.9541 to confirm this move upwards.
Attached Image
  • #6,480
  • Feb 19, 2007 11:59am Feb 19, 2007 11:59am
If you go back to page 418 its post# 6256

If you have any other questions let me know. It has worked out Extremely well for me. Im at about 700 pips in the past 5 days using it. 190 coming in the past 24 hours. Hoping to reach a 1000 this month. It's taking me a lot of trial and error to come up with this and I love it. Hope it helps all of you...
trading on demo is not trading
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