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Daily Cable Analysis

  • #6,601
  • Feb 20, 2007 1:36pm Feb 20, 2007 1:36pm
Lol I believe in today & not in tommorrow bcos i want take most out of today,Well according to me market as started its up ward journey from 1.9424 as I posted before & right now market is in wave 3
wave 1- 9424 to 9546 122 pips

wave 2- 9546 to 9475 71 pips

Wave 3-
subwave 1 - 475 to 533 complete 58 pips

subwave 2 - 533 to 519 complete 14 pips

subwave 3 - 519 to 576 complete 57 pips

subwave 4 - 576 to 534 complete 42 pip

subwave 25- 534 + 51 = 588 complete 58 pips........................after this wave 4 starts for 40 to 70 pips downward................later wave 5 starts up from there in upward direction.....................this is how i m going to trade & also depend on the market condiation..............
Attached Image
"Trade for sake of trading & not for winning or Lossing"
  • #6,602
  • Feb 20, 2007 1:38pm Feb 20, 2007 1:38pm
  •  Trader#0000
  • | Status: Unregistered Trader
Here is my daily GBP as I see it today.
The indic is from this thread
http://www.forexfactory.com./showthread.php?t=7984
Attached File(s)
File Type: doc 1Doc1.doc   77 KB | 306 downloads
  • #6,603
  • Edited 1:50pm Feb 20, 2007 1:41pm | Edited 1:50pm
Quoting HonaForex
Lol I believe in today & not in tommorrow bcos i want take most out of today,Well according to me market as started its up ward journey from 1.9424 as I posted before & right now market is in wave 3
wave 1- 9424 to 9546 122 pips

wave 2- 9546 to 9475 71 pips

Wave 3-
subwave 1 - 475 to 533 complete 58 pips

subwave 2 - 533 to 519 complete 14 pips

subwave 3 - 519 to 576 complete 57 pips

subwave 4 - 576 to 534 complete 42 pip

subwave 25- 534 + 51 = 588 complete 58 pips........................after this wave 4 starts for 40 to 70 pips downward................later wave 5 starts up from there in upward direction.....................this is how i m going to trade & also depend on the market condiation..............
hey hona, thats a great analysis man. I hope it works out too as thats the exact trade that I took haha. Im long from 1.9539. Good luck on your trade.

And also what timeframe were you on to spot these waves? 15 minute? Thanks in advance.
I dream, therefore I become.
  • #6,604
  • Feb 20, 2007 1:41pm Feb 20, 2007 1:41pm
  •  Trader#0000
  • | Status: Unregistered Trader
Can someone please tell me how I go about posting a chart directly in this window.
Kind regards
  • #6,605
  • Feb 20, 2007 2:32pm Feb 20, 2007 2:32pm
once the neckline (the green line) is broken h&s is formed and we are on the way up.
Attached Image
  • #6,606
  • Feb 20, 2007 3:02pm Feb 20, 2007 3:02pm
So far and since the high of today 9576 the lowest dip was 9535 which is building a strong support at this point. Hope it will stay.

EMA 200 is 9542
EMA 100 is 9525
EMA 50 is 9522

Macd on 15 min showing down indicator
Macd on 1 hr is still showing up signal

ENZO: Am using ur indicators and they seems to be so easy

Wednesday is a ver busy day and full of news. BOJ interest rate hike and BOE Minutes are considered important.
  • #6,607
  • Feb 20, 2007 3:12pm Feb 20, 2007 3:12pm
Hi orbit
Do you know when BOJ news come out please!
Thank you very much
Banda
BANDA333
  • #6,608
  • Feb 20, 2007 3:14pm Feb 20, 2007 3:14pm
Seems the time is open
most probably at 5AM GMT
  • #6,609
  • Feb 20, 2007 3:16pm Feb 20, 2007 3:16pm
I see that Orbit . Im still seeing a short though. Dont know why. Price has not retraced yet to the other levels. Its stuck in this freakin channel right now and its just waiting to blow one way or the other.
trading on demo is not trading
  • #6,610
  • Feb 20, 2007 3:37pm Feb 20, 2007 3:37pm
Anyone care to comment how much downward correlation on these pairs if
Bank of Japan increases rates?
  • #6,611
  • Feb 20, 2007 4:08pm Feb 20, 2007 4:08pm
all the charts appear to be positioned for movement either way, don'tget into the mindset that you know which way this is going to go 'cos you don't!! Beware false breakouts.

Monny a mickle macks a muckle
  • #6,612
  • Feb 20, 2007 4:19pm Feb 20, 2007 4:19pm
Quoting Pipkingdom
Anyone care to comment how much downward correlation on these pairs if
Bank of Japan increases rates?
No need to rush things up IMO. Too much talk on this matter in the news thread related to this event. The outcome on rate decisions use to last several minutes, go further in the following hours and echoes for days.

I go for GBP down the hole on BOJ hike + BOE minutes majority on no-hike. Too good BOJ's will come out before (or just before) Frankfurt open. European session is going to be a BLAST.
  • #6,613
  • Feb 20, 2007 4:21pm Feb 20, 2007 4:21pm
Quoting BANDA
Hi orbit
Do you know when BOJ news come out please!
Thank you very much
Banda

That depends on what time zone you are in, but you can find out in the FF calendar. (top of home page)
  • #6,614
  • Feb 20, 2007 4:23pm Feb 20, 2007 4:23pm
Quoting cesarnc
No need to rush things up IMO. Too much talk on this matter in the news thread related to this event. The outcome on rate decisions use to last several minutes, go further in the following hours and echoes for days.

I go for GBP down the hole on BOJ hike + BOE minutes majority on no-hike. Too good BOJ's will come out before (or just before) Frankfurt open. European session is going to be a BLAST.
And there are unfinished business below 9400. Dip buyers reported to lie below 9350 for several days now.
  • #6,615
  • Feb 20, 2007 5:32pm Feb 20, 2007 5:32pm
Quoting cesarnc
And there are unfinished business below 9400. Dip buyers reported to lie below 9350 for several days now.
from my charts tommorw , i see GBP at 1.96... , take sure and see you
  • #6,616
  • Feb 20, 2007 5:43pm Feb 20, 2007 5:43pm
Quoting khaled22
from my charts tommorw , i see GBP at 1.96... , take sure and see you
I am also seeing it above 96 tomorrow, but the thing is with the news there is bound to be a huge whipsaw so its best to wait for that to get past and then make your trade.
I dream, therefore I become.
  • #6,617
  • Feb 20, 2007 6:11pm Feb 20, 2007 6:11pm
scalp short 1.9562
  • #6,618
  • Feb 20, 2007 6:32pm Feb 20, 2007 6:32pm
Quoting mike w
I am also seeing it above 96 tomorrow, but the thing is with the news there is bound to be a huge whipsaw so its best to wait for that to get past and then make your trade.
don't warry , take your postion , target 1.96...
  • #6,619
  • Feb 20, 2007 7:15pm Feb 20, 2007 7:15pm
Quoting khaled22
don't warry , take your postion , target 1.96...
I understand where your coming from, and if the trade worked out it would pay off big time, but when there is a lot of money on the line ( that is a lot of money to me) I cant take the risk of uncertainty. Thanks for looking out for a fellow trader. Good luck to you.
I dream, therefore I become.
  • #6,620
  • Feb 20, 2007 7:29pm Feb 20, 2007 7:29pm
Quoting mike w
I understand where your coming from, and if the trade worked out it would pay off big time, but when there is a lot of money on the line ( that is a lot of money to me) I cant take the risk of uncertainty. Thanks for looking out for a fellow trader. Good luck to you.
I have 225 pips on the line with just GBP/USD, I am watching the high here before news for a release of this profit, probably in the next hour or so.

No way I am going to let this profit ride a Interest rate increase or a bad BOE report later today.
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