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Daily Cable Analysis

  • #6,481
  • Feb 19, 2007 12:07pm Feb 19, 2007 12:07pm
This is my time period chart which had my entries at 1.9465 and 1.9440 area for the expected move up into the Yellow box on the upper right.

This is also showing a nice Head and Shoulder formation on the Daily Chart.

I have a yellow line with an arrow with the bullish indication, the yellow box would be the end of this cycle.

1.9998 would either become the top, or a breaking line for a continuation into the 2's.
Attached Image
  • #6,482
  • Feb 19, 2007 12:12pm Feb 19, 2007 12:12pm
Quoting monarch
How many lots do you put on a trade?

Nice profits, wanna share some, I am only up 130 pips.

Hey i am new & poor guy from India therefore I tradeonly 5 lots at given time & that also with Interbankfx who are really smart pple who spread of 5 normally 5 & i m planning to change to MB trading my favorite broker where i never traded before who have cable spread of 1 to 2 ...............to whom with U trade........................


Shivaji
"Trade for sake of trading & not for winning or Lossing"
  • #6,483
  • Feb 19, 2007 12:24pm Feb 19, 2007 12:24pm
Quoting enzo2325
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...
Enzo,
In your previous posts, you said draw Fibo from low to high? Which low to high? Previous Day? Previous Period? Otherwise, your system is easily understood. Many thanks.
  • #6,484
  • Feb 19, 2007 12:26pm Feb 19, 2007 12:26pm
Quoting HonaForex
Hey i am new & poor guy from India therefore I tradeonly 5 lots at given time & that also with Interbankfx who are really smart pple who spread of 5 normally 5 & i m planning to change to MB trading my favorite broker where i never traded before who have cable spread of 1 to 2 ...............to whom with U trade........................


Shivaji
EFX, FXCM, Oanda, and I have looked into MB for a Wireless platform on a Blackberry.

Each Broker is for my different trading strategies.
  • #6,485
  • Feb 19, 2007 12:31pm Feb 19, 2007 12:31pm
High to low/ low to high. Could be previous day, week, or hours. I draw all 3 in differnt charts so my charts are not all cluttered. The fibos, emas, and Macd should all work together. If our aggressive like me at times then you wil just wait for 1 out of the 3 to place a trade. But to me the most important thing about this system is wait for the macd to cross.

If price is going down from a previous high. I wait for it to find its low. When I feel it does. I place a fibo from that high to low it could of been a couple hours also to go from H-L. Then if Macd cross on 15min chart up I place my trade and watch price hit the emas and fibos. I also place my eye on the 60 min chart to watch the macd. Because sometimes you get fooled on the 15.

Its really simple
trading on demo is not trading
  • #6,486
  • Feb 19, 2007 12:35pm Feb 19, 2007 12:35pm
anyone shorted on g/u?
  • #6,487
  • Feb 19, 2007 12:44pm Feb 19, 2007 12:44pm
Quoting enzo2325
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...
Okay, went back and got it, reading it now. Thanks.

Ken
  • #6,488
  • Feb 19, 2007 1:20pm Feb 19, 2007 1:20pm
Hi there , did anyone see this announcement on a screen at all. I looked at the bank of england website and it was there but that was after cable had dropped 90 pips . Was there a calendar time for this on the website , because I couldnt see it ( the scheduled time ) and non of the forex calendars including forexfactory had it noted . So what do you do if you are long ?? Its bad enough getting it wrong through figures p or announcements , its another thing if you dont know they are due to be released ! thoughts please on this would be appreciated .
  • #6,489
  • Feb 19, 2007 1:28pm Feb 19, 2007 1:28pm
....from their charts and their broker at this time? My MT4 is at 1.9530 and IFX is at 1.9510? Weirdish.........
Show me the PIPS!
  • #6,490
  • Feb 19, 2007 1:28pm Feb 19, 2007 1:28pm
MT4 feed closed for holiday early maybe?
Show me the PIPS!
  • #6,491
  • Feb 19, 2007 1:32pm Feb 19, 2007 1:32pm
Quoting tathlynq
MT4 feed closed for holiday early maybe?
Which broker?

IBFX showing 9508
Is your SL my TP?
  • #6,492
  • Feb 19, 2007 1:33pm Feb 19, 2007 1:33pm
This thread is great guys, I've been following it for some days now. I'll try to share some thoughts of mine with you, they might help someone!

Here's a H1 cable chart, on which I can clearly see a downtrend channel. Today's news event was unexpected and I was pretty sure price will get back to its normal path, but it might be interesting to see if it closes outside or inside this channel in the next couple of hours.
If it does brake out, I will try a weak long position.
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  • #6,493
  • Feb 19, 2007 1:40pm Feb 19, 2007 1:40pm
Quoting SirKhan
This thread is great guys, I've been following it for some days now. I'll try to share some thoughts of mine with you, they might help someone!

Here's a H1 cable chart, on which I can clearly see a downtrend channel. Today's news event was unexpected and I was pretty sure price will get back to its normal path, but it might be interesting to see if it closes outside or inside this channel in the next couple of hours.
If it does brake out, I will try a weak long position.
Thanks for the chart, I have placed your channel on my Hourly.

Ken
  • #6,494
  • Feb 19, 2007 1:45pm Feb 19, 2007 1:45pm
I'm using MIG's MT4 platform and thus their feed.
Show me the PIPS!
  • #6,495
  • Feb 19, 2007 2:23pm Feb 19, 2007 2:23pm
Im new here thus i found this thread is very informative.

I really appreciate everyone efforts to share information about their thought on the market.
  • #6,496
  • Feb 19, 2007 2:34pm Feb 19, 2007 2:34pm
This shows the Low at 1.9399 and the High at 1.9678 (lime lines on chart)

The median price is 1.9539 (green line on chart)
(just acted as Resistance two hours ago)

The 61.8% from the Top is 1.9506 (red line on chart)
(price supported during the last two hourly candles and this hour is supporting at 1.9506 so far)

The 61.8% from the Bottom is 1.9571 (red line on chart)
(since market open price has come up to 1.9558 -13 pips from this line)

This channel has the price held between the high at 1.9539 and the low at 1.9430/50 area. (orange line on chart)

Will be watching the break above the trend line as posted by SirKhans chart.
I believe he indicated a downward channel, therefore we could see a re-test of 1.9430/50 area if that were the case.

Break below 1.9494 would indicate downward move, as of now 1.9506 is holding strong support.
Attached Image
  • #6,497
  • Feb 19, 2007 2:41pm Feb 19, 2007 2:41pm
This has the same perimeters I had on the Hourly Chart.
Attached Image
  • #6,498
  • Feb 19, 2007 10:29pm Feb 19, 2007 10:29pm
This is setting up to be the initial resistance area today. It has been tested 3 times within the past three hours of this post on the 1 HR chart. A failed breach could set up a possible retrace to the daily pivot . Just my two cents worth. I am still looking at a break above 1.9565 to POSSIBLY go LONG. A break below 1.9490 will unleash the BEARS!
Show me the PIPS!
  • #6,499
  • Feb 19, 2007 10:52pm Feb 19, 2007 10:52pm
Hey everyone. Price didnt move much today... The move down right now is from a double top. Dont really know where price is going right now.
trading on demo is not trading
  • #6,500
  • Feb 19, 2007 10:58pm Feb 19, 2007 10:58pm
Quoting tathlynq
This is setting up to be the initial resistance area today. It has been tested 3 times within the past three hours of this post on the 1 HR chart. A failed breach could set up a possible retrace to the daily pivot . Just my two cents worth. I am still looking at a break above 1.9565 to POSSIBLY go LONG. A break below 1.9490 will unleash the BEARS!

Lol I believe market is very bullish & its up from 9424 by 122 pips & there4 my wave1 in upward direction is complete,so now market will correct 50 to 70 pips as wave 2 there4 i have allready short at 1.9545 with take profit at 1.9500

shivaji
"Trade for sake of trading & not for winning or Lossing"
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