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Daily Cable Analysis

  • #7,341
  • Feb 28, 2007 3:51pm Feb 28, 2007 3:51pm
Quoting monarch
Great stuff, set my Longs and go sleep 7 hours, come back and see the trigger caught at 1.9540, had my stop at 1.9510.

News is suppose to be poor for USD, I will let this thing ride into the 1.9700

59Fender, you in?
went long at 1.9537 cashed out too soon, I hate when that happens lol
  • #7,342
  • Feb 28, 2007 3:53pm Feb 28, 2007 3:53pm
- thanks for starting this thread Monarch. Many of us have profited from your wisdom over the months. I'm currently short the GBP/ and AUD/
- looking for a small $$ recovery.

Quoting monarch
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
T
  • #7,343
  • Feb 28, 2007 4:00pm Feb 28, 2007 4:00pm
the pound sure likes those 618fib levels doesn't she?kinda like an american express card,doesn't leave home without it! theres one above 1.9700 I understand. she looks ready this time
  • #7,344
  • Feb 28, 2007 4:01pm Feb 28, 2007 4:01pm
Quoting JokersWild
- thanks for starting this thread Monarch. Many of us have profited from your wisdom over the months. I'm currently short the GBP/ and AUD/
- looking for a small $$ recovery.
You are so welcome.

Glad you can come to the FF and enjoy the peaceful environment.

I have 2 Lots Short on Cable from 1.9636 and and 2 Lots Short from 1.9642.

I don't know how much time I will stay in this position, but 9642 was the High from news time, and it held Resistance today again. Looking for a nice drop to 1.9594 for support testing, after it clears 9622-13-06 first.

I am waiting for News on AUD in 2 1/2 hours before entering position there.

Thanks for your posts of position, I am always glad to hear from you.

Ken
  • #7,345
  • Feb 28, 2007 4:05pm Feb 28, 2007 4:05pm
Quoting 59fender
went long at 1.9537 cashed out too soon, I hate when that happens lol
What a great entry point, when was your exit?

My exit was 1.9620 before news this morning.
  • #7,346
  • Feb 28, 2007 4:09pm Feb 28, 2007 4:09pm
When does the new Monthly Candle open?

Daily should be real soon here.

MT4 is different than the charts I use too have, and they don't appear on the charts like I am used too.
  • #7,347
  • Feb 28, 2007 4:20pm Feb 28, 2007 4:20pm
Quoting monarch
What a great entry point, when was your exit?

My exit was 1.9620 before news this morning.
my entry was flawless ,not one pip of a draw down. my exit was less than steller,I used leverage and left with 21 pips I didn't even leave a piece for the ride up.the last turn seems to always catch me ,I was expecting 1 more wave down pretty sad I new we get a 62 retrace on the days move .live and learn
  • #7,348
  • Feb 28, 2007 4:23pm Feb 28, 2007 4:23pm
Quoting 59fender
my entry was flawless ,not one pip of a draw down. my exit was less than steller,I used leverage and left with 21 pips I didn't even leave a piece for the ride up.the last turn seems to always catch me ,I was expecting 1 more wave down pretty sad I new we get a 62 retrace on the days move .live and learn
A profit is mucho better than a loss - great job!
  • #7,349
  • Feb 28, 2007 4:23pm Feb 28, 2007 4:23pm
I am on EST so I look at 5PM as start of each new trading day. Notice some keep Sun evening (or Far East early Monday) as separate bar. Doesn't make sense to me.

So Monthly open would be 5pm (or equivalent appropriate timezone)
  • #7,350
  • Feb 28, 2007 4:24pm Feb 28, 2007 4:24pm
Quoting SunTrader
I am on EST so I look at 5PM as start of each new trading day. Notice some keep Sun evening (or Far East early Monday) as separate bar. Doesn't make sense to me.
When I used Intellicharts it was alway 5pm EST. MT4 - I have no idea... LOL

Thanks SunTrader
  • #7,351
  • Feb 28, 2007 4:52pm Feb 28, 2007 4:52pm
Quoting monarch
A profit is mucho better than a loss - great job!
so much for that, just took a loss shorted at 1.9618 exit 1.9627
  • #7,352
  • Feb 28, 2007 4:57pm Feb 28, 2007 4:57pm
Quoting 59fender
so much for that, just took a loss shorted at 1.9618 exit 1.9527
You mean 9627?
  • #7,353
  • Feb 28, 2007 5:00pm Feb 28, 2007 5:00pm
The High was reached at 1.9643, one pip above my second Short entry.

The hourly formation looks short still, have exit at 1.9601 on all 4 lots.
(looking for retrace upwards to 1.9635 resistance prior to downward continuation)

1.9622 supported the move down so far, will be watching breach below this mark, then the support levels at 1.9613/15 and 1.9606/10.

Looking for price to go down to 1.9594, therefore exit 7 pips above to be safe.
  • #7,354
  • Feb 28, 2007 5:03pm Feb 28, 2007 5:03pm
Quoting monarch
You mean 9627?
yes edited 1.9627
  • #7,355
  • Feb 28, 2007 5:05pm Feb 28, 2007 5:05pm
Quoting monarch
The High was reached at 1.9643, one pip above my second Short entry.

The hourly formation looks short still, have exit at 1.9601 on all 4 lots.
(looking for retrace upwards to 1.9635 resistance prior to downward continuation)

1.9622 supported the move down so far, will be watching breach below this mark, then the support levels at 1.9613/15 and 1.9606/10.

Looking for price to go down to 1.9594, therefore exit 7 pips above to be safe.
well now that I cut my losses you can expect 50 to 100 pip retrace
  • #7,356
  • Feb 28, 2007 5:08pm Feb 28, 2007 5:08pm
I am sorry if this scalping info. is different from what everyone wants, but there is not much happening on the longer term in my opinion, so I figured I would post info. on my type of scalping strategy.

Price breached the 1.9622 so far, looking for down to 1.9615 then 10 - 06 -00 then 1.9594 for bottom of scalp move.

Price hit 15 just now

Watching 1.9622 for resistance here on the hourly, will see if support turns into resistance?
  • #7,357
  • Feb 28, 2007 5:11pm Feb 28, 2007 5:11pm
this looks like a good long here just too worn out to take it 1.9622
  • #7,358
  • Feb 28, 2007 5:17pm Feb 28, 2007 5:17pm
1.9635 magnetic north
  • #7,359
  • Feb 28, 2007 5:22pm Feb 28, 2007 5:22pm
Hey Monarch,

A) Thank you SOOOO much for your constant generosity in sharing your info and insights. I can't tell you how much I have learned and how much you have helped since I've been 'lurking' here. But every once in a while you, or someone else similarly more experience than I, use a phrase or jargon or numerical reference that leaves me baffled. This timne in's the 10 - 06 - 00 reference. Could you please explain?

Quoting monarch
I am sorry if this scalping info. is different from what everyone wants, but there is not much happening on the longer term in my opinion, so I figured I would post info. on my type of scalping strategy.

Price breached the 1.9622 so far, looking for down to 1.9615 then 10 - 06 -00 then 1.9594 for bottom of scalp move.

Price hit 15 just now

Watching 1.9622 for resistance here on the hourly, will see if support turns into resistance?
  • #7,360
  • Feb 28, 2007 5:31pm Feb 28, 2007 5:31pm
monarch has left the building, those are abbriviations 1.9601.9610 1.9606
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