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Daily Cable Analysis

  • #6,581
  • Feb 20, 2007 11:41am Feb 20, 2007 11:41am
Quoting enzo2325
We have news coming out??
4:30 am your time tomorrow.

GBP "BOE" MM
  • #6,582
  • Feb 20, 2007 11:47am Feb 20, 2007 11:47am
Quoting monarch
Man what took you so long to enter the Long?

I had my entries waiting at 1.9440 and 1.9465 before we ever had the surprise news that made that 100 pip drop.

We are kicking in the pips now. 116 1st lot and 91 pips on the 2nd lot.

No sign of letting it go until around maybe 1.9735/49 area later this week.

I would not enter at this point for a long, I would let it rest and come down some for a better entry point, but, you know as soon as someone says that, the price takes off right there usually.
hey when i short 1.9545 in the morning,I had my TP at 1.9500 but i become greedy extended to 1.9480 but my long was waiting at 1.9480 & after that I agian enter two trade for short & long but came out early but that one at 1.9480 is still on ..........hopefull it will reach ur favourite price 1.9606.............................beleive me i do not know wat is the news today but just trading according to plan & 100 points bound to happen according to me bcos we are in wave 3 & this wave will be more than 125 pips ie 1.9475 + 125 =1.9600 thats minimium,hope forex made me understood right..........As wave 1 & wave 2 are completed
"Trade for sake of trading & not for winning or Lossing"
  • #6,583
  • Feb 20, 2007 11:50am Feb 20, 2007 11:50am
BoE news tomorrow will accelerate the advance of cable? We'll see.
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Tra-X
  • #6,584
  • Feb 20, 2007 11:57am Feb 20, 2007 11:57am
Quoting Orbit
HONAFOREX

I have placed a buy entry at 1.9480 but was not activated
I deal with FXSOL and their low today was 1,9477
am with you but did not enter from good position. I have an old wrong entry at 1.9511 and its in gain now by 46 pips

Can you put your chart we are all waiting for it.

MONARCH: pls keep it up. Nice forum under your leadership.
I wish USDGBP wont go below 9543

hey lol my low is 1.9475 & spread is 4 may that reason might activated.......but most of Broker really sucks I think in mbtrading is best in market as per my Information & Interbankfx really sucks..............hey there is ocean yet waiting for U drink how U can............all the best
"Trade for sake of trading & not for winning or Lossing"
  • #6,585
  • Feb 20, 2007 12:07pm Feb 20, 2007 12:07pm
Quoting monarch
Thanks for the nice words.

It is traders like Sami7 and Enzo that have kept me on the Forum.

We all know that several weeks ago there was turbulence, and I was on the verge of letting the thread go, but with encouragement from many PM's, I have decided too stay and assist those newbies, and help them learn a little more.

Thanks everyone for being a part, and maintaing a great thread!

Hey I M very new to forex but i gained confident when i seen ur thread & specially ur study to close of market on that day at 1.9606............than i said to myself when MONARACH can do such great work why not I & after that i see ur thread only but during the turblance u were not there i was missing U,let us forget & go ahead.................let us all togather grow like BANIYAN TREE.............cheers HIP HIP HOORAYIA
"Trade for sake of trading & not for winning or Lossing"
  • #6,586
  • Feb 20, 2007 12:13pm Feb 20, 2007 12:13pm
Quoting HonaForex
Hey I M very new to forex but i gained confident when i seen ur thread & specially ur study to close of market on that day at 1.9606............than i said to myself when MONARACH can do such great work why not I & after that i see ur thread only but during the turblance u were not there i was missing U,let us forget & go ahead.................let us all togather grow like BANIYAN TREE.............cheers HIP HIP HOORAYIA

Cheers Hona, great attitude - your on the way of being a very successful trader.

When someone can put their mind over the matter, it is only time that stands in your way to gaining the needed experience to succeed.

Thanks for the input you have put into the thread.
  • #6,587
  • Feb 20, 2007 12:26pm Feb 20, 2007 12:26pm
Quoting monarch
Cheers Hona, great attitude - your on the way of being a very successful trader.

When someone can put their mind over the matter, it is only time that stands in your way to gaining the needed experience to succeed.

Thanks for the input you have put into the thread.
I have just sent you a private message.I will appreciate your respose.Thanks
With patience and discipline,you move beyond the sky
  • #6,588
  • Feb 20, 2007 12:28pm Feb 20, 2007 12:28pm
rising channel is formed , 1h chart
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  • #6,589
  • Feb 20, 2007 12:29pm Feb 20, 2007 12:29pm
To Mike W, Karmostaji, Monarch, Pwegner, Soni7, Enzo, Pipology (and apologies to anyone I've missed) Hey what a great response man. It's really appreciated. I'll take the advice to heart and hopefully in the not too distant future I'll be able to start

Many, many thanks to all
  • #6,590
  • Feb 20, 2007 12:30pm Feb 20, 2007 12:30pm
I have spent some time reading through the thread and would like to say that it looks there is a nice flow to the analysis here.

I have been reading the other GBP thread, but there is sportatic comments that hinder my ability and efforts to learn the Forex.

Please continue with the ongoing post, it is helping newbies like me.

Thanks Monarch, Enzo, Sami7, HonaForex, and the many others.


N2FX
  • #6,591
  • Feb 20, 2007 12:34pm Feb 20, 2007 12:34pm
Lol can u tell me how U draw triangle in chart ,I mean which technique is that of drawing triangle & understanding the price movement...........bcos i m very good in maths sure i can draw & also predict in that way...........pls tell me source of information for this type of study...............thanks in advance

"He alone live who live for other & rest are dead than alive."

Swami Vivekannada

Shivaji
"Trade for sake of trading & not for winning or Lossing"
  • #6,592
  • Feb 20, 2007 12:35pm Feb 20, 2007 12:35pm
Quoting biodunola07
I have just sent you a private message.I will appreciate your respose.Thanks
I looked through my PM's and have not received yours, please re-send it.

Thanks.
  • #6,593
  • Feb 20, 2007 12:46pm Feb 20, 2007 12:46pm
I just sent you a PM. Thanks in advance for your response.
Thanks
  • #6,594
  • Feb 20, 2007 12:47pm Feb 20, 2007 12:47pm
Quoting HonaForex
Lol can u tell me how U draw triangle in chart ,I mean which technique is that of drawing triangle & understanding the price movement...........bcos i m very good in maths sure i can draw & also predict in that way...........pls tell me source of information for this type of study...............thanks in advance

"He alone live who live for other & rest are dead than alive."

Swami Vivekannada

Shivaji
I do it by free-hand with reference to Supports/Resistance - Fibo's - Trend Line and Pivot points that I have deamed to be supportive.

Just start placing lines together trying to keep the trend as your backdrop for design.

Play around, get your own feel for it, and then watch it work for you.

You can do it on all time frames, I prefer the Daily usually, it is longer forming, and does not switch up too fast.

Here is a rough chart I put together with triangles with a 3D look that shows each move up in on the Daily for the past 14 months.

You can see we are getting to the top and price will either break up, or make it's move down. I am favoring the 1.9999 area before we see a real big dropoff in this upward trend.
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  • #6,595
  • Feb 20, 2007 12:51pm Feb 20, 2007 12:51pm
Monarch, i really appreciate your trading idea. It is very interesting. Plus with other input from Enzo and others, it give me opportunity to learn more on market cable.

Hope to see more hard work from u. Thankx.
  • #6,596
  • Feb 20, 2007 12:52pm Feb 20, 2007 12:52pm
Look for price to slowly move down. I cant
believe it. Its been 2 hours and I have only made 10 pips. This is freaking crazy!!!
trading on demo is not trading
  • #6,597
  • Feb 20, 2007 12:54pm Feb 20, 2007 12:54pm
Quoting enzo2325
Look for price to slowly move down. I cant
believe it. Its been 2 hours and I have only made 10 pips. This is freaking crazy!!!
Here it comes Enzo, testing 1.9535 low right now, look for a bust through to the 1.9522/16 area for a Fibo retrace.
  • #6,598
  • Feb 20, 2007 12:59pm Feb 20, 2007 12:59pm
Quoting karom
Monarch, i really appreciate your trading idea. It is very interesting. Plus with other input from Enzo and others, it give me opportunity to learn more on market cable.

Hope to see more hard work from u. Thankx.
I believe once you get a true feel for a currency pair you can become very successful in trading that pair.

I trade a little on news time with other currencies, but 99% of my studies is on the GBP/USD.

I have small daily goals on profits, but I do not allow myself over 1 loss per week, and that is usually at a 20 pip maximum loss.

Earlier I cleared 7 pips on a late entry for Long. Got out, looked like it was slowing on the top side, and it has since not risen above my exit area.

Price has went down now, so my 7 pips means more to me knowing that I could be down 10 pips by now.

I have two other Longs opened, but there is a point today I will release these with the news later on.
  • #6,599
  • Feb 20, 2007 1:03pm Feb 20, 2007 1:03pm
If number of postings for long are more 't'ill go short!
Perhaps I read the TA's of u all a bit late
  • #6,600
  • Feb 20, 2007 1:35pm Feb 20, 2007 1:35pm
Quoting mosheber
it might retrace to the lower line of the channel at 1.9495 area.
today's 50% retrace level is right @ the same spot you have the 38% fib if that fails as support should see 1.9500
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