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Is it just me or is cable acting random? 48 replies

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Attachments: Daily Cable Analysis
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Daily Cable 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.
Monarch,I also share a similar view however,I have the upper trend line lower showing price breaking above similar to your lower trend line with price breaking below.also if the retracement is deep enough to reach the lower trend line it would likely collaspe.we do seem to be in position to test 1.9700
Quoting 59fender
Monarch,I also share a similar view however,I have the upper trend line lower showing price breaking above similar to your lower trend line with price breaking below.also if the retracement is deep enough to reach the lower trend line it would likely collaspe.we do seem to be in position to test 1.9700
Here is the same chart, but I added a red line in reference to your upper trend line, that is probably more of a actula upper line than the green one I placed in the last posted chart.

I however usually take the extremes which include the upper/lower part of a wick in determining the Trend Line, unlike Moshebers chart which places the lines upon the Body of a Candle.

This work also, and I use both setups when placing my lines on a flag formation.

I am working up another chart to post here momentarily, which will show the perimeter of the Flag formation and some guidelines I go by.
Attached Image
Quoting monarch
Here is the same chart, but I added a red line in reference to your upper trend line, that is probably more of a actula upper line than the green one I placed in the last posted chart.

I however usually take the extremes which include the upper/lower part of a wick in determining the Trend Line, unlike Moshebers chart which places the lines upon the Body of a Candle.

This work also, and I use both setups when placing my lines on a flag formation.

I am working up another chart to post here momentarily, which will show the perimeter of the Flag formation and some guidelines I go by.
i sometimes place my tl on the wick of the candle. but when i compare the price action to the rsi i prefer to put the tl on the close because the rsi also calculated with the close. anyway thanks for the comment , everybody in this thread have to learn from other traders and that's the way we become to be better traders.

in the daily we can identify a double bottom formation. if price will break higher than we're going to have a w pattern but this pattern still need confirmation. The pattern confirms as a valid once price closes above the highest peak between the double bottoms.
Attached Image
Okay, this is not what I promised for a flag formation chart, but I couldn't pass up the opportunity to reveal this chart to everyone.

The market has moved in a channel since November 27th when the price came into the 1.9300 range.

We seen a nice Bull run November 17th to the 1st of December 2006.

From December 1st we have been in a channel and the median price is 1.9589.

This was the purpose I stated we would re-test the 1.9589 when the market opens this week, to find support there for the continuation upward into the 1.9747 area or slightly above to 1.9779 as shown on the chart.

If the price comes down to test the 1.9589 area, it could extend down further to 1.9562, but we probably will not see 1.9535 unless the USD News on Tuesday (Core Durable Goods Orders) comes out different than the projected -2.4%.

Either way, I will have a Long entry waiting at 1.9590 to catch the re-test at this support area I mentioned at the beginning of last week when the price spiked and hit this mark, I will also place a Long entry waiting at 1.9540 to catch any movement down into the 1.9535 area.

I will Target 1.9735/47 for my exit, the extension of this price would be the high around 1.9779 area shown on my chart.

As far as the chart is concerned you can see the median at 1.9589.

The first Low was at 1.9429 on 12/18/06
Then High was at 1.9748 on 12/20/06 (double top at 1/3/07 at 1.9750)

The Second Low was at 1.9264 on 1/5/07 (double bottom at 1/8/07 on 1/8/07 at 1.9262)
Then High was at 1.9915 on 1/23/07

The Third Low was at 1.9399 on 2/13/07

We are now waiting for move upwards that is in the process now.

I will not be placing anymore more charts to my post at this time.

I am in the process of a new venture, and cannot post my chart analysis here for specific reasons.

I want to thank everyone for their help in this thread, I will keep in touch with you throughout the week.

If you have any questions, there are many able traders here on the thread.
Attached Image
  • #7,045
  • Quote
  • Feb 25, 2007 10:26pm Feb 25, 2007 10:26pm
I'm short, how about you Henrycarol?
My office is everywhere
  • #7,046
  • Quote
  • Feb 25, 2007 10:47pm Feb 25, 2007 10:47pm
Hello all! Hope everyone had a great weekend. Lets make some money this week!
trading on demo is not trading
  • #7,047
  • Quote
  • Feb 25, 2007 10:49pm Feb 25, 2007 10:49pm
Gold and silver are spiking right now. Don't expect much of a retrace (drop) on GBP at least for now.
Is your SL my TP?
  • #7,048
  • Quote
  • Feb 25, 2007 10:53pm Feb 25, 2007 10:53pm
Its too early to get into the market. It has not made up its mind and is an easy way to loose money. But some people are risky and good and are able to trade this. Im waiting till midnight est. Price should be retracing right now but its not. I would say price should hit 9607. But it still has not hit 9677.
trading on demo is not trading
  • #7,049
  • Quote
  • Feb 25, 2007 11:31pm Feb 25, 2007 11:31pm
Interesting article I just received in my email:

Euro and gold look better to central banks for reserves
Is your SL my TP?
Guys this week is week to make money so guys be alert & take max of this week....................All the best & happy trading
"Trade for sake of trading & not for winning or Lossing"
Doji is formed is hourly chart & than touched 1.9615 from borunced back,later bounced back from 1.9615...............so guys which one is breaking first 1.9650 or 1.9615...................
"Trade for sake of trading & not for winning or Lossing"
Well I was hoping for a retrace during the early hours of trading to the 1.9605/7 area to enter a LONG position but that didn't happen. It's currently fighting the 1.9651/3 area. There is resistance at 1.9675 which would be ideal for a SHORT with a target down to the daily pivot but....... will it hit the "magical" 1.9675?
Show me the PIPS!
Waiting for my MACD cross on the 1 hr, before I get into a long.
All hard work brings a profit, but mere talk leads only to poverty.
Quoting HonaForex
Doji is formed is hourly chart & than touched 1.9615 from borunced back,later bounced back from 1.9615...............so guys which one is breaking first 1.9650 or 1.9615...................

I'm beginning to agree with you...which will break first?!The fight is on!
Show me the PIPS!
Quoting tathlynq
Well I was hoping for a retrace during the early hours of trading to the 1.9605/7 area to enter a LONG position but that didn't happen. It's currently fighting the 1.9651/3 area. There is resistance at 1.9675 which would be ideal for a SHORT with a target down to the daily pivot but....... will it hit the "magical" 1.9675?

Uhm...weren't you waiting for the 1.9606?

Sometimes, summer comes in late.
Quoting ronaldinho
Uhm...weren't you waiting for the 1.9606?

Sometimes, summer comes in late.
Yup(the 1.9606) to go LONG.

and 1.9675 to SHORT.......
Show me the PIPS!
Hope everyone have taken thier position...........well i m allready 20 + 60 +15 = 85 pips in minus....................how about u all guys
"Trade for sake of trading & not for winning or Lossing"
-23 and -1 long now ...
now is danger for short or long G/U play on support area
SPEED SPEED SPEED
Guys do u feel 1.9606 will act as good support line for upward Journey..........

Wave 1 9424 to 9586 -162 pips

Wave 2 9586 to 9460 -126 pips

Wave 3

Subwave 1 9460 to 9599 -130 pips

Subwave 2 9599 to 9533 - 66 pips

Subwave 3 9533 to 9657 - 124 pips

Subwave 4 9657 to 9602 -55 pips

Subwave 5 9602 to 122 - 1.9724( we are here right now................)
"Trade for sake of trading & not for winning or Lossing"
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