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Daily Cable Vision

  • #1,761
  • Jun 25, 2009 8:27am Jun 25, 2009 8:27am
Quoting PiPaDoR
Hi Red.Hawk. RSI and CCI are showing oversold... I'm thinking in put a long posistion if the candle on 1HR close above CCI -100 and RSI 30... What do you think?
I am still confused, because when the market moves 10-15 pips up the RSI moves too much upwards which indicates the market is making room to drop further...as Debooo indicated we have a strong support in 6190-6220 area lets hopr the market doesn't break it and we all have a happy ride upwards
  • #1,762
  • Jun 25, 2009 8:28am Jun 25, 2009 8:28am
Quoting Ifty
Hi guys, I have been away for the last 4 hours. The bears have been busy. I will keep an eye on your recommendations Deboooo. Its always good when you have been away and upon return you are greeted with sound advice .
welcome back bro...massage your muscles well, you have got a formidable fight to have with cable...its showing ominous signs...!!!!!
  • #1,763
  • Jun 25, 2009 8:36am Jun 25, 2009 8:36am
Quoting Red.Hawk
I am still confused, because when the market moves 10-15 pips up the RSI moves too much upwards which indicates the market is making room to drop further...as Debooo indicated we have a strong support in 6190-6220 area lets hopr the market doesn't break it and we all have a happy ride upwards
I think right now we are quite far away from this point... What do you think?
  • #1,764
  • Jun 25, 2009 8:36am Jun 25, 2009 8:36am
Quoting Red.Hawk
welcome back bro...massage your muscles well, you have got a formidable fight to have with cable...its showing ominous signs...!!!!!
Hopefully bro. The RSI does have a tenancy to move slow and fast and can move 50+ sometimes even when it is almost touching the oversold/overbought so the risk is always there. Although it does tell a good big picture for trades which are not associated with tight SL.
You've got to be IN IT to WIN IT!
  • #1,765
  • Jun 25, 2009 8:40am Jun 25, 2009 8:40am
Quoting PiPaDoR
I think right now we are quite far away from this point... What do you think?
If the market now comes down again...I see it dropping further,its getting seriously boring for me...already have had a SL hit now desperately waiting for a good entry point but the market still is not settling to any direction....!!!
  • #1,766
  • Jun 25, 2009 8:43am Jun 25, 2009 8:43am
Quoting Red.Hawk
If the market now comes down again...I see it dropping further,its getting seriously boring for me...already have had a SL hit now desperately waiting for a good entry point but the market still is not settling to any direction....!!!
The 1H chart is definately overbought and below the 30 RSI level. A turn for the upside is looking good from here.
You've got to be IN IT to WIN IT!
  • #1,767
  • Jun 25, 2009 8:45am Jun 25, 2009 8:45am
Quoting Ifty
The 1H chart is definately overbought and below the 30 RSI level. A turn for the upside is looking good from here.
I think too Ifty... CCI, RSI and MACD showing very oversold...
  • #1,768
  • Jun 25, 2009 8:45am Jun 25, 2009 8:45am
Quoting Ifty
The 1H chart is definately overbought and below the 30 RSI level. A turn for the upside is looking good from here.
yes it seems so...but we have to show some patience to get a confirmation whether this upward move is just a retrace or a trend change
  • #1,769
  • Jun 25, 2009 8:49am Jun 25, 2009 8:49am
Quoting Red.Hawk
yes it seems so...but we have to show some patience to get a confirmation whether this upward move is just a retrace or a trend change
Lets wait for the 1H candle in around 15 minutes. I am using Heikin-Ashi and so will see if it changes from red to blue before deciding on a long position. If it goes south then i will follow deboooo's advice.
You've got to be IN IT to WIN IT!
  • #1,770
  • Jun 25, 2009 8:53am Jun 25, 2009 8:53am
Quoting Ifty
Lets wait for the 1H candle in around 15 minutes. I am using Heikin-Ashi and so will see if it changes from red to blue before deciding on a long position. If it goes south then i will follow deboooo's advice.
hmmm that good
  • #1,771
  • Jun 25, 2009 9:01am Jun 25, 2009 9:01am
well...hourly candle closed on a strong bullish note....lets see how market behaves now
  • #1,772
  • Jun 25, 2009 9:02am Jun 25, 2009 9:02am
OK, the Heikin-Ashi 1H candle has now turned blue and so i thinking bullish (for a little while anyway). But the 5 min chart is almost heading towards the 70 RSI level and so i will wait for it to get to below the 50 RSI level before entering.
You've got to be IN IT to WIN IT!
  • #1,773
  • Jun 25, 2009 9:04am Jun 25, 2009 9:04am
Quoting Ifty
OK, the Heikin-Ashi 1H candle has now turned blue and so i thinking bullish (for a little while anyway). But the 5 min chart is almost heading towards the 70 RSI level and so i will wait for it to get to below the 50 RSI level before entering.
hmmm its getting interesting
  • #1,774
  • Jun 25, 2009 9:07am Jun 25, 2009 9:07am
ok i'll take a break and will come back fresh and then have a look at the market...mean while we might have an advice from Debooo as well....and all prayers for him to get well soon
  • #1,775
  • Jun 25, 2009 9:10am Jun 25, 2009 9:10am
Quoting Red.Hawk
ok i'll take a break and will come back fresh and then have a look at the market...mean while we might have an advice from Debooo as well....and all prayers for him to get well soon
Yes, lets relax for the decision... I'm going to take a shower... and I also wish that our friend Deboo can get better sap...
  • #1,776
  • Jun 25, 2009 9:14am Jun 25, 2009 9:14am
Quoting Red.Hawk
ok i'll take a break and will come back fresh and then have a look at the market...mean while we might have an advice from Debooo as well....and all prayers for him to get well soon
Good idea bro. The volume seems to be very lowering and so lets wait for it to gain some momentum before deciding on a position.
You've got to be IN IT to WIN IT!
  • #1,777
  • Jun 25, 2009 9:42am Jun 25, 2009 9:42am
Maybe will be better to follow Deboo advice, cos the price started to go down again...
  • #1,778
  • Jun 25, 2009 9:57am Jun 25, 2009 9:57am
Quoting PiPaDoR
Maybe will be better to follow Deboo advice, cos the price started to go down again...
long at 6293,
  • #1,779
  • Jun 25, 2009 9:59am Jun 25, 2009 9:59am
Quoting iqyusan
long at 6293,
I think I miss my entry point at 6265...
  • #1,780
  • Jun 25, 2009 10:02am Jun 25, 2009 10:02am
Quoting iqyusan
long at 6293,
i hope ......
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