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Daily Cable Analysis

  • #7,921
  • Mar 16, 2007 4:09am Mar 16, 2007 4:09am
Woops....I plugged an incorrect number into my calculator....Green W 3 targets are now correct.
High is now 9441, but there was no follow through and gbp/jpy is 300 pips under its Monday high, so not supporting a continued rally in cable....IMO.
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  • #7,922
  • Mar 16, 2007 4:50am Mar 16, 2007 4:50am
Quoting Islander
Woops....I plugged an incorrect number into my calculator....Green W 3 targets are now correct.
High is now 9441, but there was no follow through and gbp/jpy is 300 pips under its Monday high, so not supporting a continued rally in cable....IMO.
This one caught me offguard. Subwave 2 never even retraced to 50%! And it actually started with a very messy mini waves yesterday. Amazing.
Tra-X
  • #7,923
  • Mar 16, 2007 5:09am Mar 16, 2007 5:09am
Quoting Traex
This one caught me offguard. Subwave 2 never even retraced to 50%! And it actually started with a very messy mini waves yesterday. Amazing.
Yeah, cableŽs broken with the Yen and back to moving with Euro.
Two minutes after my last post it started another rally....21 minutes up to a new high at 9475....so looks like the W 3s are very much in play. Got some pips there, now waiting to see if this mini pull back can retrace more than 38% on 1 min chart (9450) holding with a mini double bottom. The 50% and around 440 would be nicer and allow the 5min stoch to drop into my buy zone. But late morning in Europe....often a consolidation time before the US wakes up.
Trading Levels with WRBs
  • #7,924
  • Mar 16, 2007 5:24am Mar 16, 2007 5:24am
Quoting Islander
often a consolidation time before the US wakes up.
And before the CPI data. I expect the CPI to be a massive usd-strong data! So I expect the GBP/USD to drop later today.
I'm watching only the short side now for today.
  • #7,925
  • Mar 16, 2007 5:56am Mar 16, 2007 5:56am
Quoting MarkGavalda
And before the CPI data. I expect the CPI to be a massive usd-strong data! So I expect the GBP/USD to drop later today.
I'm watching only the short side now for today.
You expect or you hope?

I mean, dollar is being sold off across the board after y'day less than enthusiastic news for US economy. Greenspan also talked about danger in the vicinities. Dollar index is down the hole.

Bad CPI today + calm carries will serve dollar bulls as barbecue.
  • #7,926
  • Mar 16, 2007 6:27am Mar 16, 2007 6:27am
Quoting MarkGavalda
And before the CPI data. I expect the CPI to be a massive usd-strong data! So I expect the GBP/USD to drop later today.
I'm watching only the short side now for today.
I think that the rally today has been largely driven by the Euro, which is now only 30 pips under its December high. Cable is 400 pips under its January high and the $yen 150 above its equivalent low, with the Swiss 200 above.

To me, looking at the 5 min and 1 min charts, this rally is laboured, with lots of wicks, dojis and spinning tops - all signals of indecision - with the occasional spike up. Non of the larger range candles that are seen in a strong move are present.

I would not be surprised to see a spike up through the 9500 level to the 515 area or even 935, but its strange that having got so close - 9498 so far - that this has not yet happened.
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  • #7,927
  • Mar 16, 2007 6:29am Mar 16, 2007 6:29am
Another typo....935 should read 9535...lol at 935 cableŽd be leading the Euro.
Trading Levels with WRBs
  • #7,928
  • Mar 16, 2007 7:07am Mar 16, 2007 7:07am
According to me cable formed double Zigzig..............where W,X & Y are complete.........................if market form trible zigzig or wave 1,watever market must come down & US data must take down that wat i see...........check the chart..................eager to see ur veiws
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  • #7,929
  • Mar 16, 2007 7:15am Mar 16, 2007 7:15am
Quoting Islander
Another typo....935 should read 9535...lol at 935 cableŽd be leading the Euro.
i will read it 9350
935 will be my target, this is friday.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,930
  • Mar 16, 2007 11:55am Mar 16, 2007 11:55am
Half way to go , now running 9420
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,931
  • Mar 16, 2007 12:22pm Mar 16, 2007 12:22pm
Quoting notme32
Half way to go , now running 9420
Where did you enter? I sold at 9495 this morning before the CPI. Looking for 92's again next week.
  • #7,932
  • Mar 16, 2007 12:56pm Mar 16, 2007 12:56pm
Can somebody tell me please which indi to use for knowing when the market has exhausted or the trend is over and ranging has started. Sorry to bump the thread but I have almost screwed my acct because of not knowing whether it is ranging or trending. Please help me!
  • #7,933
  • Mar 16, 2007 1:20pm Mar 16, 2007 1:20pm
9400... is going closer to 9350

Originally Posted by Islander http://www.forexfactory.com/images/buttons/viewpost.gif
Another typo....935 should read 9535...lol at 935 cableŽd be leading the Euro.

thankies Islander for wrong typo
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,934
  • Mar 16, 2007 1:32pm Mar 16, 2007 1:32pm
Quoting wep561
Where did you enter? I sold at 9495 this morning before the CPI. Looking for 92's again next week.
enter 9491

target 9350, or price closed today.

i agrred next week is time to play skateboard down the hill.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,935
  • Mar 16, 2007 1:37pm Mar 16, 2007 1:37pm
Quoting moneyAA
Can somebody tell me please which indi to use for knowing when the market has exhausted or the trend is over and ranging has started. Sorry to bump the thread but I have almost screwed my acct because of not knowing whether it is ranging or trending. Please help me!
i have no indi for that, i just use my eye and feeling....

today i feel ..... this is friday........ who buy need sell to close.

( who buy from 9212 NY open.......rally , then need sold , friday is the time...NY open )

simple.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,936
  • Mar 16, 2007 2:49pm Mar 16, 2007 2:49pm
I will love next week

What do you PIPers think about this 4H chart ?

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Paradiso i think .......... Hope, Expect , Whatever......
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,937
  • Mar 16, 2007 3:41pm Mar 16, 2007 3:41pm
If the market wants to go higher, it would retrace back to the top in the middle of the channel and then breakout, or the opposite for a downmove.
  • #7,938
  • Mar 16, 2007 4:19pm Mar 16, 2007 4:19pm
Quoting notme32
I will love next week

What do you PIPers think about this 4H chart ?

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Paradiso i think .......... Hope, Expect , Whatever......
Guess the blue line is what 200 / 250 EMA? This is tough place to go through as proved before...

And, if I recall properly, only good fundis can make it... A nice carry recovery could also provide the prop
  • #7,939
  • Mar 16, 2007 10:38pm Mar 16, 2007 10:38pm
200 EMA.....
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,940
  • Mar 18, 2007 1:39am Mar 18, 2007 1:39am
This week's moves finally start to show that cable might be forming a triple zigzag formation from 1.9915 top on Jan, and currently we're at wave (red) C up of big wave XX up (transition from 2nd zigzag to 3rd).

In shorter term, subwave (orange) 3 up was completed at 1.9498 and subwave 4 is in progress, already retraced to over 50% of subwave 3 now. >50% subwave 4 retracement means final subwave 5 up has higher chance to fail to exceed top of subwave 3 (truncated). If it doesn't fail, it'll likely target 1.9550 area before diving.
We'll see next week. Just my opinion.
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