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Daily Cable Analysis

  • #6,961
  • Feb 23, 2007 4:04am Feb 23, 2007 4:04am
i went short to at 1.9550 bcos Enzo says to me that in 1 min chart where price went down & agian bounced back at 1.9667 & later breaked 200 Ema & agian now bunced back from 100 Ema...........also entered in 15 min chart & price in 5 min chart trying to break...............let me speculate bit
"Trade for sake of trading & not for winning or Lossing"
  • #6,962
  • Feb 23, 2007 4:04am Feb 23, 2007 4:04am
Quoting cesarnc
Still looking that it will go up to me... I mean down... no.. up... ooops, down now
LoL, exactly what I was thinking
  • #6,963
  • Feb 23, 2007 4:10am Feb 23, 2007 4:10am
Well, at least I know that I´m not the only one shorting this pair. Too, expecting to break under 1.9547 to keep smiling...
  • #6,964
  • Feb 23, 2007 4:14am Feb 23, 2007 4:14am
What do you think about this count? It would be a sign to the upper levels (wave5).
I'm just playing, I don't know heck about Elliot Wave (yet)...
Attached Image
  • #6,965
  • Feb 23, 2007 4:16am Feb 23, 2007 4:16am
UK GDP was in line with the forecasts, so the spike down didn´t get any follow through.

The Euro has 2 long wicks below on its 5m chart....indecision

GBP´s just got back above its 5m 200EMA, but the Euro´s 10 pips under its 200EMA and the Swiss is 10 pips above its 200EMA, neither of these are positive for GBP.

Guess I´ll stay flat till I can see a new signal
Trading Levels with WRBs
  • #6,966
  • Feb 23, 2007 4:22am Feb 23, 2007 4:22am
Quoting MarkGavalda
What do you think about this count? It would be a sign to the upper levels (wave5).
I'm just playing, I don't know heck about Elliot Wave (yet)...
According to EW theory, W4 should not move into the range of W1.

IMO, off my count, W3 has not completed yet....needs to go above 9600 - or below 9518 to become invalid
Trading Levels with WRBs
  • #6,967
  • Feb 23, 2007 4:28am Feb 23, 2007 4:28am
Quoting MarkGavalda
What do you think about this count? It would be a sign to the upper levels (wave5).
I'm just playing, I don't know heck about Elliot Wave (yet)...
Predicting elliot waves is no easy task. I would do a little bit more research first before trying to have the waves make sense to you. I just recently ordered a book on them and I will study them more before I try to put them into use. I was fortunate enough to save a great tutorial on the waves that someone had posted here. The whole lessons takes about 4 hrs worth of your time. I listened to it praticed it for a little and still don't understand it that well. Just some advice, gather up all the material you can on the subject and research it as much as you can. Don't forget, what may work for one may not work for another. Hope this helps


Elliott Wave International's e-Learning Series for Elliott Wave Traders
  • #6,968
  • Feb 23, 2007 4:28am Feb 23, 2007 4:28am
any one considering buying up here? I didn't think so. this puppy's gonna drop
  • #6,969
  • Feb 23, 2007 4:38am Feb 23, 2007 4:38am
the high for the week is 1.9601 not that impressive!
  • #6,970
  • Feb 23, 2007 4:38am Feb 23, 2007 4:38am
I have no idea what it is going to do, so I guess I should not be trading. I am totally confused. Actually, it is not me who is totally confused, it is cable which is having a nervous breakdown--does not know what it is doing and cannot make up its mind.

I am short but I have no idea whether I should be and what is worse, I would feel the same way if I were long.
  • #6,971
  • Feb 23, 2007 4:39am Feb 23, 2007 4:39am
Quoting thunder
Predicting elliot waves is no easy task(...)

I've already looked up some books, I'm very interested in the whole method, but not currently using it yet for the simple reason that I know very little about it.
As I said it was just a 'toy-play' for me to come up with those numbers, I had a little more time than I needed watching g/u rise and fall and rise and fall and rise......... ))
Thanks for your answer guys, I really appreciate it! During the weekend, when I have to fill my time with something because the market is closed and I can't get my daily doze of medicament for my forex-addiction, I will look into those books of Robert Balan and Robert Prechter. I heard those Bobs are the best.
  • #6,972
  • Feb 23, 2007 4:42am Feb 23, 2007 4:42am
1.9571 is acting good resistence line & attempted four time to break on 1 min chart..........but there is no moment well my stop loss is waiting for 1.9575 which i entered at 1.9555
"Trade for sake of trading & not for winning or Lossing"
  • #6,973
  • Feb 23, 2007 4:53am Feb 23, 2007 4:53am
During the weekend, when I have to fill my time with something because the market is closed and I can't get my daily doze of medicament for my forex-addiction, I will look into those books of Robert Balan and Robert Prechter. I heard those Bobs are the best. [/quote]

I think I might do the same. Good luck and I hope that it will all come together within the next few weeks for us.
  • #6,974
  • Feb 23, 2007 4:59am Feb 23, 2007 4:59am
Quoting moonchild
I have no idea what it is going to do, so I guess I should not be trading. I am totally confused. Actually, it is not me who is totally confused, it is cable which is having a nervous breakdown--does not know what it is doing and cannot make up its mind.

I am short but I have no idea whether I should be and what is worse, I would feel the same way if I were long.
Just a little advise from someone that has traded this market for 4+ years. We have been in a ranging market for quite sometime now and until a trend becomes cut and dry-patience is the key.
I'm looking for a 3rd test of 9600 sometime in the next couple of hours with a false breakout possibly into the 9620 area. Or maybe a rejection just below 9600. I will go short at 9596 with a stop just above 9620 and expect a drop into the lower 9500's. At this time it is the only setup that I see.
  • #6,975
  • Feb 23, 2007 5:02am Feb 23, 2007 5:02am
I´m new to posting a chart, but this is a possibility, where W5 has failed to move past a slightly short W3.

The Asian session makes life difficult on short time frames as there´s so much sideways action.
Attached Image
Trading Levels with WRBs
  • #6,976
  • Feb 23, 2007 5:18am Feb 23, 2007 5:18am
Currently there's abit confusion here (and it seems I'm not alone lol). Double top (truncated mini wave 5 (magenta) pattern) formed? If it's true, how could it be a subwave 3 (orange)? The supposedly subwave 4 retracement has penetrated into wave 1's area now!! (invalidates the count)
Well the supposed-to-be subwave 3 only topped 10 pips above top of subwave 1?? Further action is needed now.
Just my opinion.

PS Good luck and enjoy to those who are going to read/study about Elliott Wave.
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Tra-X
  • #6,977
  • Feb 23, 2007 5:20am Feb 23, 2007 5:20am
have a look at this channel
Attached Image
  • #6,978
  • Feb 23, 2007 5:31am Feb 23, 2007 5:31am
Doji setting up on the 4HR.
Is your SL my TP?
  • #6,979
  • Feb 23, 2007 5:37am Feb 23, 2007 5:37am
Quoting Traex
Currently there's abit confusion here (and it seems I'm not alone lol). Double top (truncated mini wave 5 (magenta) pattern) formed? If it's true, how could it be a subwave 3 (orange)? The supposedly subwave 4 retracement has penetrated into wave 1's area now!! (invalidates the count)
Well the supposed-to-be subwave 3 only topped 10 pips above top of subwave 1?? Further action is needed now.
Just my opinion.

PS Good luck and enjoy to those who are going to read/study about Elliott Wave.
Yep its certainly messy Elliott-wise and I think its too easy to get hung up trying to aways get a "nice" EW move to fit the chart.

I would sumarise what I am seeing as either we get a Lower High - that would bring my ABC correction into play OR we break 9600 and make new highs - that would bring your Wave 3 targets ito play.

I guess we´ll have to wait and see what New York wants to do - I´m flat whilst this works itself out! Not going to risk todays profits! - also, its poets day on my side of the pond.
Trading Levels with WRBs
  • #6,980
  • Feb 23, 2007 5:42am Feb 23, 2007 5:42am
Quoting Islander
I´m new to posting a chart, but this is a possibility, where W5 has failed to move past a slightly short W3.

The Asian session makes life difficult on short time frames as there´s so much sideways action.


Perfect chart lol keep it up..........

Thanks............
"Trade for sake of trading & not for winning or Lossing"
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