Daily Cable Analysis | Page 340 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Is it just me or is cable acting random? 49 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

CABLE Centurion 16 replies

Cable: Measuring Fibonacci From Where ? 29 replies

Attachments: Daily Cable Analysis
Exit Attachments

Daily Cable Analysis

  • #6,781
  • Feb 22, 2007 8:17am Feb 22, 2007 8:17am
Quoting MarkGavalda
Here's what I think of a daily chart. That 1.9450 area is a hard nut to break, it has been tested for about 10 times already with no luck. I think an explosion is coming in a week or so, and GBP/USD will fly like a rocket to the 1.98 area. Maybe some better news for the pund in february will help it to climb. But it will happen (IMHO) anyways.

yes we have divergence in the daily which is a stong indication upwards.
Attached Image
  • #6,782
  • Feb 22, 2007 8:46am Feb 22, 2007 8:46am
Waiting for my MACD lines to cross on my 1hr to the upside before I get into a long and are currently showing a move down. On my 15m lines have crossed to indicate a move down.

When is this market going to make up it's mind?
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,783
  • Feb 22, 2007 8:52am Feb 22, 2007 8:52am
  •  Trader#0000
  • | Status: Unregistered Trader
"My system is based on trends, so I'm quite desperate now.... "

We know that 70% of the time FX is rangebound,, so if you are using a system looking for trends ... it will be wise to also try and capture the majority of the time when we are like now, sideways, but still can make good money eg load up on lots say 10 lots and grap 5 pips at a time and still make good money.
  • #6,784
  • Feb 22, 2007 9:21am Feb 22, 2007 9:21am
MACD has crossed to the upside on my 1hr, 30 min and 15m, and I'm going long.
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,785
  • Feb 22, 2007 9:47am Feb 22, 2007 9:47am
Sami7MACD has crossed to the upside on my 1hr, 30 min and 15m, and I'm going long.

Hows my system working out for you??

Sometimes I do take the trade based on my 15 min chart only. Those are the times I feel aggressive. I made out with 35 pips this morning. Correct though macd has crossed on the 1 hr chart so Im long as well.
trading on demo is not trading
  • #6,786
  • Feb 22, 2007 9:50am Feb 22, 2007 9:50am
On my 4 hr chart. price has not been able to break through my 200 ema 9570. There is strong resistance there. Last time it broke was valentines day.
trading on demo is not trading
  • #6,787
  • Feb 22, 2007 9:54am Feb 22, 2007 9:54am
Quoting Sami7
MACD has crossed to the upside on my 1hr, 30 min and 15m, and I'm going long.

Good move ..........wats ur Take profit
"Trade for sake of trading & not for winning or Lossing"
  • #6,788
  • Feb 22, 2007 9:59am Feb 22, 2007 9:59am
Thanks Tra-x for the nice analysis.

Off todays 5m action, I can see the possibility of a smaller wave 3 rally currently in progress - provided that we get above this morning´s high of 9535.

Started at 3:35, 9461 up to W 1 H of 9518 at 4:35; down to W2 Low of 9487 at 6:25 and now in a possible W3 rally which will be confirmed on a move above 9535, then targeting 9559 (1.236) or 9581 (1.618)

I got a buy signal on the move up through 9500 at 9:50 and hope it will run up.....but given the lack of follow through recently I´ll be ready to exit on any sign of weakness
Trading Levels with WRBs
  • #6,789
  • Feb 22, 2007 10:05am Feb 22, 2007 10:05am
This is period which made me sleepless yestraday therefore i am coming out at 1.9535 which i went long from 1.9500...............how u all guys & lady think about this period...............
"Trade for sake of trading & not for winning or Lossing"
  • #6,790
  • Feb 22, 2007 10:11am Feb 22, 2007 10:11am
Yes,me too ,and i think that today`s moving end on this level 35-45...
  • #6,791
  • Edited 10:32am Feb 22, 2007 10:20am | Edited 10:32am
Quoting HonaForex
This is period which made me sleepless yestraday therefore i am coming out at 1.9535 which i went long from 1.9500...............how u all guys & lady think about this period...............
Elliot waves aren't afraid of any resistances/supports. It'll always move on if the count is correct. What we can do is to watch the market only and trade. And of course protect profit by tightening s/l frequently.

Edit: Took 1st profit here 1.9580. Now left 2 parts of long w s/l tightened to 1.9510.
Tra-X
  • #6,792
  • Feb 22, 2007 10:41am Feb 22, 2007 10:41am
Enzo,

it's working well, however, have gotten stung a couple of times when the MACD crossed on the hour only to reverse b/f I was in profit! I've learned this system works best in the AM hours and I'm using it primarily then.

Otherwise, it's wonderful - I came back from a walk with 50 pips! Thanks again!
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,793
  • Feb 22, 2007 10:45am Feb 22, 2007 10:45am
Yeah definately in the Am hours. ALso it has happened to me twice two. Especially this week since the market was ranging up and down so much. When the market is like it has been this week sami got to the 5 and 15 min charts. IT works really good and you can scalp up and down. I was making between 7-20 pips everytime MACD crossed. Not bad...
trading on demo is not trading
  • #6,794
  • Feb 22, 2007 10:49am Feb 22, 2007 10:49am
Quoting Traex
Elliot waves aren't afraid of any resistances/supports. It'll always move on if the count is correct. What we can do is to watch the market only and trade. And of course protect profit by tightening s/l frequently.

Edit: Took 1st profit here 1.9580. Now left 2 parts of long w s/l tightened to 1.9510.

I M kicking myself for counting wave wrong & missing downward journey..........well i m still in trade all my opening which i wanted to come out at 1.9535.............myself targeting at 1.9618 later i see corection of 30 to 50 pips
"Trade for sake of trading & not for winning or Lossing"
  • #6,795
  • Feb 22, 2007 10:53am Feb 22, 2007 10:53am
Quoting Islander
Thanks Tra-x for the nice analysis.

Off todays 5m action, I can see the possibility of a smaller wave 3 rally currently in progress - provided that we get above this morning´s high of 9535.

Started at 3:35, 9461 up to W 1 H of 9518 at 4:35; down to W2 Low of 9487 at 6:25 and now in a possible W3 rally which will be confirmed on a move above 9535, then targeting 9559 (1.236) or 9581 (1.618)

I got a buy signal on the move up through 9500 at 9:50 and hope it will run up.....but given the lack of follow through recently I´ll be ready to exit on any sign of weakness
Mm...9582...quite close to target. Now for W4 down over NY lunchtime..9553 or 9535 are likely targets then on up and above 9600's possible...
Trading Levels with WRBs
  • #6,796
  • Feb 22, 2007 10:59am Feb 22, 2007 10:59am
Yes, I've tried using the 15m chart and scalping - and it's bitten me two times, so if you have suggestions about when to do so, then let me know.

The one time I got negative, the 1hr had already crossed, and I scalped on the 15 min - against the trend on the 1hr (yes, I know the trend is my friend ). So, are you suggesting that you would have to go with the trend (when it's in progress and not just crossed) and then scalp on the 15m?
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,797
  • Feb 22, 2007 11:00am Feb 22, 2007 11:00am
Quoting Islander
Mm...9582...quite close to target. Now for W4 down over NY lunchtime..9553 or 9535 are likely targets then on up and above 9600's possible...
Yeah good call there, Islander.
Tra-X
  • #6,798
  • Feb 22, 2007 11:05am Feb 22, 2007 11:05am
How many of you are full-time traders?

I am.
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,799
  • Feb 22, 2007 11:06am Feb 22, 2007 11:06am
As you now nothing is a 100 proof system. IF the market is going up and down pretty quick with no range. I just stay out. It's to risky and you may get 2 out of 5 trades right. So to me its not worth it. I always trade with my 15 and 60 min charts. If I decide on scalping I go to the 5 and just glance at the 15 here and there. Tell you the truth I only scalp if im home and bored. But getting out of that habbit. My trading hours now are from 2 a.m.-11p.m.
Thats the best way for this system to work. Otherwise its money down the drain. Hope this helps. I see the market a bit different with this system then you may so I dont really know what else to say.
trading on demo is not trading
  • #6,800
  • Feb 22, 2007 11:09am Feb 22, 2007 11:09am
I am not a Full time trader but am hoping to be one day. Actually I know I will. Well folks I have to go to my real job now and am closing out with 42 pips. Total of 87 pips today. Hope the rest of you guys did ok. Good luck!!
trading on demo is not trading
24 traders viewing now