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Daily Cable Analysis

  • #6,561
  • Feb 20, 2007 10:55am Feb 20, 2007 10:55am
Thats what im keeping an eye on. Macd has crossed down on the 15 min chart. I have been watching the 15 when they cross 7 out of 10 times the 60 will cross about 10 min later. So I placed a short. I really dont like trading this late in the day because things just go a bit wild up and down. But I did anyways....

But I feel price will come down to 9519
trading on demo is not trading
  • #6,562
  • Feb 20, 2007 10:57am Feb 20, 2007 10:57am
Quoting monarch
Really needing to see the reaction when the price comes down to test the 200 EMA and also the 1.9540-43 area which has held price down most of the week as a resistance factor.

You gotta love those resistances that turn into supports, that is what we watch for to confirm staying in our positions.

So far it has come down to 1.9544, but has not reached 1.9543/41 yet.

I am actually expecting price to come down to test 1.9534 which was a key point on my fibo count.
I agree on the 9534 point and am watching the 5 min charts for early indication, then 15 min for confirmation. The hourly 200 seems to be holding. If we get close to 34 again I may have a speculative long.
  • #6,563
  • Feb 20, 2007 10:57am Feb 20, 2007 10:57am
Thanks for the numbers.

My charts have the Low at 1.9535, just 1 pip above my retracement point.

I am watching the Hour only right now, and looking for the candle to close above the 1.9543, which is my projected support line for the movement upwards later.

We possibly could come down into the 1.9522 area, then move back up towards the 1.9543 for a continual move up towards the Frankfurt and London open.

We have a important news coming out of GBP at Open Time, the BOE will be speaking, and I will be looking for clearing out my positions by then possibly to protect my profits.
  • #6,564
  • Feb 20, 2007 10:58am Feb 20, 2007 10:58am
Quoting musicman007
I agree on the 9534 point and am watching the 5 min charts for early indication, then 15 min for confirmation. The hourly 200 seems to be holding. If we get close to 34 again I may have a speculative long.
We are also holding the 50ema on the 5 min chart.
  • #6,565
  • Feb 20, 2007 10:59am Feb 20, 2007 10:59am
Thank you Monarch and orbit and enzo for staying with us. I am learning so much from you folks.
  • #6,566
  • Feb 20, 2007 11:00am Feb 20, 2007 11:00am
I feel right now there is no movement to push the price up. to late in the day. Draw a fibo from 1.9477-1.9575. Watch these areas as I am. Price should come right to them like they have been for me the past week

I love fibos!!!
trading on demo is not trading
  • #6,567
  • Feb 20, 2007 11:04am Feb 20, 2007 11:04am
I never thought I would have people thanking me in the Forex...

Folks, Trust me this stuff is not easy and at time its pretty scary when you have a lot of money on the line even though you feel or know that the price is going the way you want. I appreciate all of the compliments and thanks. As long as Monarch stays so will I. How can I ever go the another forum when I get to see Picasso drawing's like his
trading on demo is not trading
  • #6,568
  • Edited 11:11am Feb 20, 2007 11:07am | Edited 11:11am
Quoting enzo2325
Thats what im keeping an eye on. Macd has crossed down on the 15 min chart. I have been watching the 15 when they cross 7 out of 10 times the 60 will cross about 10 min later. So I placed a short. I really dont like trading this late in the day because things just go a bit wild up and down. But I did anyways....

But I feel price will come down to 9519
That would be 61.8% retracement from the low at 1.9479 and the high at 1.9575.

I think your close, especially since 1.9522/24 has played a key role in this weeks prices.

I will look to enter once again at this 1.9522 level.

I made exit on my 3rd Lot for a profit of 7 pips only.

Note: If this Fibo Count holds the same pattern as the one noted above in this post, that would place the Low at 1.9479 and the High at 1.9575 - the 61.% fibo would be 1.9516 mark.
  • #6,569
  • Feb 20, 2007 11:21am Feb 20, 2007 11:21am
Quoting enzo2325
I never thought I would have people thanking me in the Forex...

Folks, Trust me this stuff is not easy and at time its pretty scary when you have a lot of money on the line even though you feel or know that the price is going the way you want. I appreciate all of the compliments and thanks. As long as Monarch stays so will I. How can I ever go the another forum when I get to see Picasso drawing's like his
These charts are for you friend.

Some like to cook for fun - This is how I enjoy my free Time.....
Attached Image
  • #6,570
  • Feb 20, 2007 11:23am Feb 20, 2007 11:23am
Quoting monarch
These charts are for you friend.

Some like to cook for fun - This is how I enjoy my free Time.....
It looks like you need a hobby my friend.
I dream, therefore I become.
  • #6,571
  • Feb 20, 2007 11:24am Feb 20, 2007 11:24am
Trianglular view
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  • #6,572
  • Feb 20, 2007 11:26am Feb 20, 2007 11:26am
Monarch,

Im just jealous that I cant draw charts like that...!


Mike W,

Ken's a busy man and still has time to make charts like that.
trading on demo is not trading
  • #6,573
  • Feb 20, 2007 11:26am Feb 20, 2007 11:26am
I feel a down move coming verrrrrrrrrry soon.
trading on demo is not trading
  • #6,574
  • Feb 20, 2007 11:28am Feb 20, 2007 11:28am
Quoting Orbit
I plan to do the same
I will enter in a new buy position in USDGBP around 1.9535
on the Hourly chart:
EMA 200 = 1.9542
EMA 100 = 1.9523
EMA 50 = 1.9517

on the 15 min chart:
EMA 50 = 9523
EMA 100 = 9517
EMA 200 = 9517

The lowest low for this hour is 9537 and so far the support is being strong. Hope it will stay strong
What is likely to be the highest high for gbp/usd today
With patience and discipline,you move beyond the sky
  • #6,575
  • Feb 20, 2007 11:30am Feb 20, 2007 11:30am
Quoting mike w
It looks like you need a hobby my friend.
LOL - that I do.....

Any suggestions?

Here is a new hobby I will post another chart.

That is enough charts for now, I'll back off.

Be cool Mike.
Attached Image
  • #6,576
  • Feb 20, 2007 11:33am Feb 20, 2007 11:33am
Quoting enzo2325
Monarch,

Im just jealous that I cant draw charts like that...!


Mike W,

Ken's a busy man and still has time to make charts like that.
Yeah i kind of thought that much haha. Truth is Im just jealous too!!
I dream, therefore I become.
  • #6,577
  • Feb 20, 2007 11:34am Feb 20, 2007 11:34am
the price did not break tom demark trendlines (the green line) which is actually the neckline of a head and shoulders bottom.if this line breaks than 1.9676 is in sight. there isn't much momentum at the moment to go higer. boe minutes may give the fuel for that.
Attached Image
  • #6,578
  • Feb 20, 2007 11:36am Feb 20, 2007 11:36am
Quoting monarch
LOL - that I do.....

Any suggestions?

Here is a new hobby I will post another chart.

That is enough charts for now, I'll back off.

Be cool Mike.
I suggest skydiving
  • #6,579
  • Feb 20, 2007 11:40am Feb 20, 2007 11:40am
We have news coming out??
trading on demo is not trading
  • #6,580
  • Feb 20, 2007 11:40am Feb 20, 2007 11:40am
Quoting 59fender
I suggest skydiving
Couldn't you imagine the rush in that! :surprised my trading migh do better though?
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