Daily Cable Analysis

check the daily chart hope that helps

Hallo,
I m trading first time that also forex from last 6 month & wat i found is trading forex is like playing chess where U attack & defend as per the opponents plan of action which seen in chess board.
Forex where market keep on changing as per the plan of traders which can be read from the price action taking place on chart.
One more thing i seen in market is that it is allways right at given time bcos it has many ways to go ahead & it finds won way, but everyone fallow his won way & later we come to know that our way was right or wrong .
Trading is all about understanding moves of opponents & their mind which have to be understand in price on charts & make our well planned move to take profit as we do in chess.............
I discovered myself yestraday therefore i shared with U all & I will be implementing this way in my trading & will share with U all about my devolpment for good everyone.............
I felt sharing this so i did.............thanks for ur time & i m sorry if wasted anyone's time...........
Looking for ur veiw on this..............

Shivaji

Thanks Traex for your update.....messy waves or what!

This is my 5 min chart as an impulsive move down just off todays action.

IF the W3 Low holds, AND the W4 completes at say 9530, then the W5 targets become 9492 / 482 / 469.

That would tie in with your ideas. I´ll be a seller if it can make the 530 area....just happens to be the 200ema on the 1 min chart.

The way I approach the problem, with respect to relatively short term goals (1 to 2 days), it is the recent events which are relevant. Thus I am looking at what has occurred in the past days and weeks rather than months ago. What was occurring then is relevant over longer time frames than I am dealing with when trying to determine what is likely to occur tonight and tomorrow.

Approaching the problem this way I have had a very productive day.

It broke the trendline from 6th Jan

After two weeks of miserable range bound price movements, is it possible that finally cable will start to trend again? I hope so!
Today I'm already in +86pips shorting the GBP, I hope we have a good March, as good as bad February was

My view: if price manages to close today BELOW 1.9450, that opens up the way to 1.9200 or maybe more! So watch out, we're at a critical level now.

Price has broken the 50 ema and is heading toward the 100 ema - I still see us as having some down time. (On the daily)

yap u r right to look market wat happenning now & some perivous days & week than months & year...............so that we do not confuse our self............

i had enough pip from this down movement, i better turn to long now. at 9435

Busted the parabolic SAR on the daily by 20 pips now...

Hey dude trying to read some posts on this forum and cannot seem to find the chronological order of the thread. How do I find the latest posting - in what page rotaion? Did not think I would ever have to ask such a dumb question.
Anyways forexfactory very nice move forward over the years.
For the cable call. Someone wanted to know where it is going. From a max retrace to the 1.9334 level (if retrace not complete by now) into Wed Mar 7 we should move north to a new high or at least a re-test of the old high of 1.9914. This should be done into the month of April.

Good trading folks
slick 60

we had a false break above the trend line how about a false below?

any one planing to buy pound/yen to hold over the weekend?

target 9495

Hmm, I had said last week on friday 9500 by tuesday. However the range screwed me around and we got below my target 3 days later. either way I got alot of pips. So I feel sorry for the bulls out there.

yep

I'll wait for confirmation of reversal before entering long. Personally I'd like to see 2-3 bull days to convince me. Or hopefully just Monday and early Tuesday will be enough...

I am long pound/yen from 227.32 but have not yet decided if I am going to hold over the weekend.

Right now cable is trying to claw its way above 9450, and it is painful to watch. UJ on the other hand has gone up like a shot.

short 1.9456

why? we're still in a shady area, between 9464 and 9432 where i can't see any direction for today.