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Daily Cable Analysis

  • #7,321
  • Edited 1:21pm Feb 28, 2007 1:10pm | Edited 1:21pm
Quoting forexenator
If you look at the Doji candle formed on 13th of Feb, you will notice it was followed by a strong bull candle, and the pattern repeats as of 19th and 22nd February, and lastly today. This may strongly suggest that we may see a a bullish candle as well. What supports this theory is the strong support line as shown in the chart


yes, strong resistence in the lower tl and there is also a diamond formation in the daily. macd crossed up and i expect a bullish breakout in the coming days.price is above 55 ema ,and the daily candel would probably be a pin bar which is a bullish sign .


not a trade recommendation
Attached Image
  • #7,322
  • Feb 28, 2007 1:16pm Feb 28, 2007 1:16pm
so let me get this straight: you're saying that next move might be to go up to .9676 and then go down to .9496?

Quoting HonaForex
FAILURES ARE BEST TEACHER OF HUMANITY ,THEREFORE FEAR NOT Says VEDAS......................................Before I posted my veiws & how will i trade, well yet i have not found holy gril but i m near to it.............i will happy to see comment from bears & bulls

Yap U r right according to me bcos correction of journey from 9425 is yet to be complete to round about 9425/96...............so right now we r in subwave 5 of wave 2 which will complete at 1.9676 & creates double top & brings cable to 9496

Fresh wave started at 9399............

Wave 1 - 9399 to 9678 - 276 pips

Wave 2 - 9678 to 9425 - 253 pips

SubWave 3 - In process............9425 - 9678 = 253

SunWave (1) 9425 to 9586 completed 161 pips

SubWave (2) 9586 to 9460 compelted

SubWave( 3) 9460 to 9670 completed(3 wave ) 210 pips

Subwave (4) 9670 to 9517 compelted

SubWave (5) in process-9517 +160 =9677

*Wave 4 9678 -253 = 9425 where we started before............
but i believe wave 4 to complete at 1.9496...................

As highest is 9677 & also ends subwave 5 so there will double top & brings market down to 1.9496 or 9425 to complete the retracement from 9425
Nihil Sine Deo.
  • #7,323
  • Feb 28, 2007 1:18pm Feb 28, 2007 1:18pm
while you are saying that a bullish move is expected...

Quoting mosheber
yes, strong resistence in the lower tl and there is also a diamond formation in the daily. macd crossed up and i expect a bullish breakout in the coming days.price is above 55 ema ,and the daily candel would probably be a pin bar or a doji which is a bullish sign either.


not a trade recommendation
Nihil Sine Deo.
  • #7,324
  • Feb 28, 2007 1:19pm Feb 28, 2007 1:19pm
i think my next move is to stay out, thank you.
Nihil Sine Deo.
  • #7,325
  • Feb 28, 2007 1:36pm Feb 28, 2007 1:36pm
Just got out, what a long day. I'll wait for a safer entery !!!
  • #7,326
  • Feb 28, 2007 1:37pm Feb 28, 2007 1:37pm
Quoting Scrat
i think my next move is to stay out, thank you.
So very sensible. I have been out for the past 8 hours because I just cannot get in tune with what is going on. It just does not make much sense to me at present. I can come up with a very credible scenario for almost any move that might occur. Net result, no trading.
  • #7,327
  • Feb 28, 2007 1:39pm Feb 28, 2007 1:39pm
  •  Trader#0000
  • | Status: Unregistered Trader
"and the daily candel would probably be a pin bar or a doji which is a bullish sign either."

Can someone please tell me how a pin bar is looking like ?

The daily candle today looks to me like a hanging man ,,which is a bearish signal and occurs after a up trend. ..we just now had 7 up days ..so maybe this candle is saying we are going down? Some of my indic is saying that too.

Also have a look at the Dec 4 candle.

What do u think?
  • #7,328
  • Feb 28, 2007 1:41pm Feb 28, 2007 1:41pm
Waves seem pretty complicated, but this seems pretty simple.
Attached Image
Is your SL my TP?
  • #7,329
  • Feb 28, 2007 1:51pm Feb 28, 2007 1:51pm
Quoting Scrat
i think my next move is to stay out, thank you.
this is as valid a position as staying in. And a better position than staying negative.

I got out 6 hours ago, never seeing the window to get back in...
  • #7,330
  • Feb 28, 2007 2:12pm Feb 28, 2007 2:12pm
Watching the channel gives great indication for scalping, also the 5M, 15M, and Hourly is showing clear signs for 10-20 pip scalps.

I have Short Entry at 1.9636 (2 lots) and a waiting short for a move up to 1.9642 for 3rd and 4th lot.

Trying to catch projected move down for the Monthly close near 1.9622 area.

Having fun with the Forex, never hurts too try and make a few bucks waiting for the Larger move at a later time.
  • #7,331
  • Feb 28, 2007 2:15pm Feb 28, 2007 2:15pm
Amen- Wise Words Indeed

Quoting moonchild
So very sensible. I have been out for the past 8 hours because I just cannot get in tune with what is going on. It just does not make much sense to me at present. I can come up with a very credible scenario for almost any move that might occur. Net result, no trading.
T
  • #7,332
  • Feb 28, 2007 2:32pm Feb 28, 2007 2:32pm
Quoting HelloDollie
"and the daily candel would probably be a pin bar or a doji which is a bullish sign either."

Can someone please tell me how a pin bar is looking like ?

The daily candle today looks to me like a hanging man ,,which is a bearish signal and occurs after a up trend. ..we just now had 7 up days ..so maybe this candle is saying we are going down? Some of my indic is saying that too.

Also have a look at the Dec 4 candle.

What do u think?
in the chart you can see the pin bar. there is also a bullish channel in 4h chart.
Attached Image
  • #7,333
  • Feb 28, 2007 2:42pm Feb 28, 2007 2:42pm
Quoting Scrat
i give up...
Hey Scrat
It seems like you are new to trading like myself, forgive me if I am wrong. I have been trading for 4 months now still learning, very expensive lesson I might add.

What I am saying is that you can learn alot from FF but you still have to study the charts and experiense the ride preferbly through your demo account. I can tell you this trading fx is not easy so be in it for the long haul.
  • #7,334
  • Feb 28, 2007 2:43pm Feb 28, 2007 2:43pm
Quoting mosheber
in the chart you can see the pin bar. there is also a bullish channel in 4h chart.
Actually this is not a true pin bar, it's more of a hanging man though.
  • #7,335
  • Feb 28, 2007 2:43pm Feb 28, 2007 2:43pm
  •  Trader#0000
  • | Status: Unregistered Trader
Thanks for posting

Diamond formation means bearish ..interesting indeed !
  • #7,336
  • Feb 28, 2007 2:44pm Feb 28, 2007 2:44pm
Quoting Scrat
so let me get this straight: you're saying that next move might be to go up to .9676 and then go down to .9496?
yap i m seeing agian 9678 & than come back to 9496..............this wat i am seeing
"Trade for sake of trading & not for winning or Lossing"
  • #7,337
  • Feb 28, 2007 3:01pm Feb 28, 2007 3:01pm
Quoting zawodowiec
Actually this is not a true pin bar, it's more of a hanging man though.
so far a big doji
Attached Image
  • #7,338
  • Feb 28, 2007 3:11pm Feb 28, 2007 3:11pm
Quoting HelloDollie
Thanks for posting

Diamond formation means bearish ..interesting indeed !

there are bottom diamonds and top diamonds so we might see a breakout upwardes.

see here

http://thepatternsite.com/diamondb.html
  • #7,339
  • Feb 28, 2007 3:32pm Feb 28, 2007 3:32pm
Quoting mosheber
so far a big doji
In your opinion, wouldnt the hanging man/ doji be a bearish sign though?
  • #7,340
  • Feb 28, 2007 3:46pm Feb 28, 2007 3:46pm
Quoting JokersWild
Amen- Wise Words Indeed

I want to welcome everyone who is new to the thread!

We are especially glad to welcome a "Wild Joker" ------
---------------- talking about gambling.

We do not promote gambling with Forex, even though it appears by some of my posts that I am taking a gamble on a few positions. LOL

Anyway, Welcome Everyone.

Ken
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