Daily Cable Analysis | Page 352 | 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

  • #7,021
  • Feb 23, 2007 11:51am Feb 23, 2007 11:51am
Tra-X,

Yep, out of trades for today, must admit I've been stung. I've had luck trading on Fridays and keeping trades open over weekend, however, due to what I've seen, have an uneasy feeling or should I say queasy feeling I need to stay out and wait for what I hope is to be a better market next week. Thanks for the note of concern.
All hard work brings a profit, but mere talk leads only to poverty.
  • #7,022
  • Feb 23, 2007 12:05pm Feb 23, 2007 12:05pm
Quoting enzo2325
HOw did you master my system before me???! lol

Tell me how you do it on the smaller time frames.

Hey I trade for small pips of 20 to 50 ....so wat i do is,I draw Ema 25,50,100,200 & 300 & also fibo line of recent high & low ,so when market goes high & than come down first enter in series 25,50,100,200,300 so on 1 min chart & later i see on 5 min chart to touch first 25 min & make my next decision..............wat to do next...............hey draw this & see magic on 1 min & 5 min chart............bcos i m looking for system on 1 min ,5 min & 15 min & combine this on Elliot wave to make max of market..........
"Trade for sake of trading & not for winning or Lossing"
  • #7,023
  • Feb 23, 2007 12:49pm Feb 23, 2007 12:49pm
  •  Trader#0000
  • | Status: Unregistered Trader
Looking back at today ..

We had BB squeeze nicely ( see pink line) 30 pips apart good sign of nice move to come... question is which way??

ADX giving safe entry for a buy ( green in between red and blue)
MACD crossed up through 0
Woodies above 0 and blue line reaching 100

Good exit point was when Woodies showed divergence , green ADX line went out of red and blue and LSMA showed really high 325 reading.
Attached Image
  • #7,024
  • Feb 23, 2007 12:59pm Feb 23, 2007 12:59pm
  •  Trader#0000
  • | Status: Unregistered Trader
The trend is your friend ....

Daily GBP showed on Tuesday that the trend is UP

Trend line from 22 January broken today on the upside.. any significance perhaps ?

When we can determine the trend early .. we save ourselves a lot of stress.

Thanks for everyone who posts.. I find this thread very helpful.
Attached Image
  • #7,025
  • Feb 23, 2007 1:15pm Feb 23, 2007 1:15pm
Quoting Scrat
so you're keeping a long position open for the weekend?
Nope. Never has, never will. This week's gap at open scared me. If it gaps to the downside, my broker's policy is to trigger my SL at the open price

But price being hold that high by this time, surely many people will.

If US strikes Iran this weekend I'll regret it. Otherwise, I'll place a long by Asian open on Monday
  • #7,026
  • Feb 23, 2007 2:50pm Feb 23, 2007 2:50pm
This chart shows each move upward with the 61.8% Fibo retracement completed before the next move upwards.

The recent move upward started at 1.9553 and topped out at 1.9648

38.2 % is 1.9512
50% is 1.9600
61.8% is 1.9589

1.9589 was a key area we observed yesterday.
Attached Image
  • #7,027
  • Feb 23, 2007 9:20pm Feb 23, 2007 9:20pm
Cable bottomed out at 1.9430 as the end of wave 2 or B. It then rose to 1.9590 as a leading diagonal triangle subwave 1, then retraced ~78.6% to 1.9461 as subwave 2. In current subwave 3, 5 impulse waves have been formed. There's a chance it'll extend into next week, making it 9 waves total (as in Nov 2006 bull run). We'll see how it goes.

Possible subwave 3 targets still in-force:
100% fibo expansion of subwave 1: 9461 + 160 = 9621 (already hit)
161.8%: 9461 + 259 = 9720 (rising daily trendline + 'Henrycarol's' resistance )
200%: 9461 + 320 = 9781 (near '9777')
261.8%: 9461 + 419 = 9880

Just my opinion.
Attached Image
Tra-X
  • #7,028
  • Feb 23, 2007 10:07pm Feb 23, 2007 10:07pm
Hello Dollie,

What possibly is a ZeroLag MACD?

And the green line in the ADX that you refer to is used to determine the strength of the trend. I guess some may use it as a entry signal, not sure how effective that might be though. But if ADX is low and starting to climb then trend hasn't really developed yet so you can be caught in a reversal before you know it.
  • #7,029
  • Feb 23, 2007 10:36pm Feb 23, 2007 10:36pm
Quoting SunTrader
Hello Dollie,

What possibly is a ZeroLag MACD?

And the green line in the ADX that you refer to is used to determine the strength of the trend. I guess some may use it as a entry signal, not sure how effective that might be though. But if ADX is low and starting to climb then trend hasn't really developed yet so you can be caught in a reversal before you know it.
wrong.
BAM BAM BOOM! -bravado
  • #7,030
  • Feb 23, 2007 10:41pm Feb 23, 2007 10:41pm
Quoting monarch
This chart shows each move upward with the 61.8% Fibo retracement completed before the next move upwards.

The recent move upward started at 1.9553 and topped out at 1.9648

38.2 % is 1.9512
50% is 1.9600
61.8% is 1.9589

1.9589 was a key area we observed yesterday.
this does not mean much.
BAM BAM BOOM! -bravado
  • #7,031
  • Feb 23, 2007 10:42pm Feb 23, 2007 10:42pm
Good answer. Maybe next time you will let the person that I quoted answer.

I know, I know - wrong. Then you will have 2 posts.
  • #7,032
  • Feb 23, 2007 10:47pm Feb 23, 2007 10:47pm
Quoting bravado
this does not mean much.
Thanks for the post, but what I want to know is "what does not mean much?"

Your opinion, your lot size, your demo account, the chart that has you baffled?

Let me know what you want to know.

Thanks
  • #7,033
  • Feb 23, 2007 10:50pm Feb 23, 2007 10:50pm
Quoting cesarnc
Nope. Never has, never will. This week's gap at open scared me. If it gaps to the downside, my broker's policy is to trigger my SL at the open price

But price being hold that high by this time, surely many people will.

If US strikes Iran this weekend I'll regret it. Otherwise, I'll place a long by Asian open on Monday
a trader once told me, one of the first things you should throw away before you even begin to trade is 'regret'.
BAM BAM BOOM! -bravado
  • #7,034
  • Feb 23, 2007 10:55pm Feb 23, 2007 10:55pm
Quoting monarch
Thanks for the post, but what I want to know is "what does not mean much?"

Your opinion, your lot size, your demo account, the chart that has you baffled?

Let me know what you want to know.

Thanks
I must admit to also having difficulty trying to understand what point you are trying to make with the chart. Could you clarify this? Thank you.
  • #7,035
  • Feb 23, 2007 11:03pm Feb 23, 2007 11:03pm
Quoting monarch
Thanks for the post, but what I want to know is "what does not mean much?"

Your opinion, your lot size, your demo account, the chart that has you baffled?

Let me know what you want to know.

Thanks
my apologies. i see that i was aloof.

i meant it doesn't mean much to me.

i'm sure most people found it useful.
BAM BAM BOOM! -bravado
  • #7,036
  • Feb 23, 2007 11:18pm Feb 23, 2007 11:18pm
Quoting moonchild
I must admit to also having difficulty trying to understand what point you are trying to make with the chart. Could you clarify this? Thank you.
The chart I posted was to review the move that had taken place and to show the Fibo Levels that were reached during this move.

I post many charts and sometimes they are just colorful, and on occasion have no meaning to others.

I apologize for the simplicity of my analysis, but I use about 20 different chart setups, but they all work within each other. It would be very confusing too me also at times to see my charts, I will try not to post so many different views and keep things less cluttered.

I have one other chart that shows the Flag formation we are in now.

I do not feel we will see 1.9735/47 area until we re-test 1.9589, and 1.9562 areas. It may even go down and re-test the 1.9535 area before going back up to the upper line of the Flag formation.

The breakout will take place near the 1.9587 area, I state this because it is the median price of the range the Cable is in.

There has been no indication of a trend change to the downward side, and as far as I can see we are still in the same range that it has been in since the High at 1.9846 on Dec 1st 2006 and the Low at 1.9262 on Jan 8th 2007 (this would place the median price at 1.9554).

If you were to use the Low at 1.9262 and the High at 1.9914 the median would be at 1.9587.

I hope this explains somewhat about my chart posting.

I apoligize for any confusion on the matter.
Attached Image
  • #7,037
  • Feb 24, 2007 12:02am Feb 24, 2007 12:02am
thanks monarch.
BAM BAM BOOM! -bravado
  • #7,038
  • Feb 24, 2007 2:05am Feb 24, 2007 2:05am
Thanks Monarch. Always interesting seeing your analysis.

Quoting monarch
The chart I posted was to review the move that had taken place and to show the Fibo Levels that were reached during this move.

I post many charts and sometimes they are just colorful, and on occasion have no meaning to others.

I apologize for the simplicity of my analysis, but I use about 20 different chart setups, but they all work within each other. It would be very confusing too me also at times to see my charts, I will try not to post so many different views and keep things less cluttered.

I have one other chart that shows the Flag formation we are in now.

I do not feel we will see 1.9735/47 area until we re-test 1.9589, and 1.9562 areas. It may even go down and re-test the 1.9535 area before going back up to the upper line of the Flag formation.

The breakout will take place near the 1.9587 area, I state this because it is the median price of the range the Cable is in.

There has been no indication of a trend change to the downward side, and as far as I can see we are still in the same range that it has been in since the High at 1.9846 on Dec 1st 2006 and the Low at 1.9262 on Jan 8th 2007 (this would place the median price at 1.9554).

If you were to use the Low at 1.9262 and the High at 1.9914 the median would be at 1.9587.

I hope this explains somewhat about my chart posting.

I apoligize for any confusion on the matter.
  • #7,039
  • Edited 12:19pm Feb 24, 2007 11:45am | Edited 12:19pm
in the daily chart price already break the channel and now aiming upwards to the next target at 1.9715 mark. after reaching this target i expect the price to go higher 1.9800 and above that. we are now in the middle of wave 3 on the daily.
Attached Image
  • #7,040
  • Feb 24, 2007 1:07pm Feb 24, 2007 1:07pm
Quoting fxprocessor
Thanks Monarch. Always interesting seeing your analysis.
Thank you for the explanation. I just did not get that information out of the chart. Now I have a much better idea of what you intended the chart to convey.

The information is a very good, to the point and useful analysis of where we are and where we are likely to go from here.
5 traders viewing now