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Daily Cable Analysis

  • #7,901
  • Mar 14, 2007 11:17am Mar 14, 2007 11:17am
Lol both r right & thats beauty of this market ..............Well technically speaking there was upward moment but the fact is market went up & we have to accept that................Now question arise why market went up,well according to me now wave on 4 hour market have unfolded in double ZIGZIG................Where W & X are completed & we r in sub wave A of wave wave Y which can be have target still 9360/96...................fuck this market took my 80 pips today..................hehehe..................Lols no one is right or wrong market alone is right & it is boss & it can unfold in any direction.................still lot to learn in life.
"Trade for sake of trading & not for winning or Lossing"
  • #7,902
  • Mar 14, 2007 2:08pm Mar 14, 2007 2:08pm
Hmm i like stay here a top hill , at least for me.

i like to ride down again, i will add a turbo on my skateboard.

i love targetting 9200 from here just for today and tomorrow.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,903
  • Mar 14, 2007 2:09pm Mar 14, 2007 2:09pm
going short from 9350......no SL
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,904
  • Mar 14, 2007 2:11pm Mar 14, 2007 2:11pm
Nobody home now, is like a thief action starting soon.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,905
  • Mar 14, 2007 2:18pm Mar 14, 2007 2:18pm
Range 9350-9250 is like paradise for this few day, and will be for whole week.

superb paradiso. Short 9350 no SL , Long 9250 no SL.............again and again.

Still 2 and half day, at least will be up and down 5 or 6 more time.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,906
  • Mar 14, 2007 4:02pm Mar 14, 2007 4:02pm
I just entered a load of shorts on Cable and added to my EUR/USD shorts.
  • #7,907
  • Mar 14, 2007 10:02pm Mar 14, 2007 10:02pm
Previous wave count was blown off the window yesterday. New uptrend in progress, or it's just a temporary up-bump and will reverse down again soon? Current new subwave 2's possible retracement targets: 50% of subwave 1's fib at 1.9302, 61.8% at 1.9281, 78.6% at 1.9250. Powerful subwave 3 up will follow after.
Current count will be invalid once cable hits below 1.9212. We'll see. Just my opinion.
Attached Image
Tra-X
  • #7,908
  • Mar 15, 2007 6:46am Mar 15, 2007 6:46am
Quoting Traex
Previous wave count was blown off the window yesterday. New uptrend in progress, or it's just a temporary up-bump and will reverse down again soon? Current new subwave 2's possible retracement targets: 50% of subwave 1's fib at 1.9302, 61.8% at 1.9281, 78.6% at 1.9250. Powerful subwave 3 up will follow after.
Current count will be invalid once cable hits below 1.9212. We'll see. Just my opinion.
Thanks Traex, since you posted cable dropped back to just above its 50% retrace and has been slowly moving higher.
After the fake out yesterday and the thrust higher in US trading it would be great to see some follow thru upwards.....guess we´ll have to wait till the PPI dataat 8:30 EDT.
Interesting to see that GBP/JPY only retraced to around its 24% level, but has not yet moved up as much as that short pull back would have suggested.
Give how cable is following this pair that is not IMO indicative of much further upside at present.
Trading Levels with WRBs
  • #7,909
  • Mar 15, 2007 6:52am Mar 15, 2007 6:52am
Quoting Islander
Thanks Traex, since you posted cable dropped back to just above its 50% retrace and has been slowly moving higher.
After the fake out yesterday and the thrust higher in US trading it would be great to see some follow thru upwards.....guess we´ll have to wait till the PPI dataat 8:30 EDT.
Interesting to see that GBP/JPY only retraced to around its 24% level, but has not yet moved up as much as that short pull back would have suggested.
Give how cable is following this pair that is not IMO indicative of much further upside at present.
how was yesterdays down move a fake out?
  • #7,910
  • Mar 15, 2007 7:06am Mar 15, 2007 7:06am
double top possible pin 30 minute chart
  • #7,911
  • Mar 15, 2007 7:35am Mar 15, 2007 7:35am
Quoting Islander
Thanks Traex, since you posted cable dropped back to just above its 50% retrace and has been slowly moving higher.
After the fake out yesterday and the thrust higher in US trading it would be great to see some follow thru upwards.....guess we´ll have to wait till the PPI dataat 8:30 EDT.
Interesting to see that GBP/JPY only retraced to around its 24% level, but has not yet moved up as much as that short pull back would have suggested.
Give how cable is following this pair that is not IMO indicative of much further upside at present.
There was no fake out yesterday, everything was in order lol. Well it's really a struggle to count waves in forex markets, what a real challenge. It's like a dream to have waves like in DJIA stock market index below.
Attached Image
Tra-X
  • #7,912
  • Mar 15, 2007 7:46am Mar 15, 2007 7:46am
Quoting Traex
There was no fake out yesterday, everything was in order lol. Well it's really a struggle to count waves in forex markets, what a real challenge. It's like a dream to have waves like in DJIA stock market index below.
kinda looks like a pound/yen chart lol
  • #7,913
  • Mar 15, 2007 8:48am Mar 15, 2007 8:48am
Quoting Traex
There was no fake out yesterday, everything was in order lol. Well it's really a struggle to count waves in forex markets, what a real challenge. It's like a dream to have waves like in DJIA stock market index below.
LOL - like your chart......slightly long term for me, hope nobody´s trading that Time Frame!!
Trading Levels with WRBs
  • #7,914
  • Mar 15, 2007 8:59am Mar 15, 2007 8:59am
Quoting 59fender
how was yesterdays down move a fake out?
Just before the news was released at 8:30, price was at 9225....it then spiked down 14 pips to make a new low for the day....and just about sufficient to trigger news trader type sell orders. It then reversed upwards and went up 160 or so in the next 3 hours. I saw that as a fake out. Just my opinion. NB GBP/Jpy went up immediatly....I dont think many try to catch the news spike in that pair.
Trading Levels with WRBs
  • #7,915
  • Mar 15, 2007 9:42am Mar 15, 2007 9:42am
Quoting Islander
Just before the news was released at 8:30, price was at 9225....it then spiked down 14 pips to make a new low for the day....and just about sufficient to trigger news trader type sell orders. It then reversed upwards and went up 160 or so in the next 3 hours. I saw that as a fake out. Just my opinion. NB GBP/Jpy went up immediatly....I dont think many try to catch the news spike in that pair.
I agree, 9280 has been a strong support these last few days. Yesterday cable goes to 9210 and everyone thinks it has lost 9280 so it's headed much lower but then it recovers intraday to around 9350 which also has been a kind of resistance these last few days...

It was fake out as 12th march breaking higher was also a fake out
  • #7,916
  • Mar 15, 2007 12:04pm Mar 15, 2007 12:04pm
Quoting Islander
Just before the news was released at 8:30, price was at 9225....it then spiked down 14 pips to make a new low for the day....and just about sufficient to trigger news trader type sell orders. It then reversed upwards and went up 160 or so in the next 3 hours. I saw that as a fake out. Just my opinion. NB GBP/Jpy went up immediatly....I dont think many try to catch the news spike in that pair.
the move downward started at 1.9315 price dropped to 1.9209 that is 106 pips how far were you expecting this to go? atr. is 123 pips. we have a double bottom just below 1.9200 at 1.9184 thats two support levels to get thru 1.9200 and 1.9184 a double double. to get thru this level could require several attempts.we are trading in a range ,a major economic release could spark such a move such as tommorows cpi data. if this # comes out as expected its possible to bounce off this level once again, a stronger than expected # and we could cut thru this level like butter
  • #7,917
  • Mar 15, 2007 12:58pm Mar 15, 2007 12:58pm
Quoting 59fender
the move downward started at 1.9315 price dropped to 1.9209 that is 106 pips how far were you expecting this to go? atr. is 123 pips. we have a double bottom just below 1.9200 at 1.9184 thats two support levels to get thru 1.9200 and 1.9184 a double double. to get thru this level could require several attempts.we are trading in a range ,a major economic release could spark such a move such as tommorows cpi data. if this # comes out as expected its possible to bounce off this level once again, a stronger than expected # and we could cut thru this level like butter
Good point as to how far might the fall reasonably be expected to go. The atr used to be around 140 pips, for the last 6 weeks of 2006 I noted its average as 138 pips and for the first six weeks of this year it had fallen to 128 pips. However, from research over 12 months ago, I found that approx 20% of the time there was an atr > 200 pips.....so in todays markets say 175. In the past 5 weeks I see only 4 days with this range so another day was certainly "available" depending on the news, the action of the US stock markets and the yen.
Trading Levels with WRBs
  • #7,918
  • Mar 15, 2007 12:58pm Mar 15, 2007 12:58pm
When is going down ? i have no patience anymore
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,919
  • Mar 15, 2007 1:27pm Mar 15, 2007 1:27pm
I Hope Soon

Attached Image


range new : 9380 - 9210
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,920
  • Mar 16, 2007 3:30am Mar 16, 2007 3:30am
Here´s what I have off a 4 hour chart just after London Open this morning.
Strong resistance at Monday´s high / 50% retrace.
IF broken, turquoise W3 targets would come into play.
Green W3 off 30 min would be met first, allowing for a pull back before lining up with the turquoise count.
IF the 9435 area holds and price drops back then this possible count will be invalid and I´ll start looking at the short sideCPI at 8:30, Ind Prodn at 9:15 and Consumer Sentiment at 10:00 so plenty of opportunities for a news triggered move.....either way!
Attached Image
Trading Levels with WRBs
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