Daily Cable Analysis

I am thinking short to 6380 then buy on a bounce to 646? region.
Does anyone feel the same short term

I am buying on dips and selling at peaks, I prefer seeing a 150 pip move either way prior to entry, I will not to enter in a tight range.

I accidentally put a long entry order in on my other computer and forgot about it last week, I am down 60 pips at the market close, but my prefered entry long is at 1.6206 level, which means I will have my accidental long close out at breakeven if we get there, or let it remain for the next support bounce on bottom then the move upwards to 1.7 level.

I also had a short entry order at 1.6650 level during last weeks market, and it missed by 65 pips on the spike.

Looks like price opened up near 1.6470 so far, dipping down 15 pips so far, but ranging.

Will watch for break even on my LONG from 1.6488 area, but will determine if pressure is upwards to make some pips.

I am evaluating my Long and Short levels now, but will not make a trade unless we get a good move either way.

Watching 1.6426/28 level here

Note: GU is trying to support 1.6430, but expecting one more test deeper, to 1.6420 possible, watching patiently. lol

Looks like EU want to test the 00 level here

Long entry

GU dipping a little more - 1.6420 will grab my attention

Looks like EU wants to drop some more, could take GU deeper also, watching for dip here while EU finds support.

GU: will swap short gu at 1.6422 to a long

Tap through the 1.6422 as expected short swap to long

Note: these trades are 5-10 pip target trades only here in this undecided market.

Trade at your own risk.

Short GU hit target as expected Exit +5
Long GU not looking good Exit +2 (it went after all lol)

Long EU - Holding still, waiting for support to show.

Update: EU has been holding still, my LONG has been in small drawdown, I am looking for a move up here to 1.4220 area

EU found a break of support now attacking 00 level.

Holding LONG still and watching GU for stall areas.

NOTE: EU finding support temporary at 99/00 - may have to assist the long in exit -

showing signs of move up here

Update: needs to break above 1.6418 to move higher

I have my trades going still, will take a break, my exits are set, and limit orders are also set, be back in a while.

Hello,

I use LINE CHARTS to look at PRICE ACTION.

I draw my trend lines based on LINE CHARTS only, and based on both the WEEKLY and DAILY charts, it seems to me that CABLE is to go up to 1.6900.

This is considering the amount of time it has spent consolidating around 1.62XX/1.63XX, which is a key fib level in both the WEEKLY & DAILY charts.

And, in the DAILY cart, price may still consolidate more until it hits the support (diagonal) line to the right.

Take a look at my charts, see what you think.

Anyway, just sharing...

Regards,

PAPION

Thank you for posting your charts, I agree with your analysis.

I will mark a couple things on my charts from your post.

Are you in a position now??

I had several trades open earlier before I left my home.

I had 3 Long EU positions and 1 GU Long position.

I had a very small target on them, after seeing the dip that went lower then I wanted.

I trade scalp style which those positions were based on with PA, and I trade Long Term positions which I enter and let go for a certain target.

Closed Positions as follow:
EU LONG -5
EU LONG +4
EU LONG +10
GU LONG +10

I will now review what has happened since market open and prepare for my next entries.

I am thinking were getting some stall at the tops on both pairs, I will watch for rejection with a finger on my short button.

"Scalping Strategy"

Note:
Asia Range
EU 65 pips
GU 84 pips

Let's see if we get a quick fake move up here and then the drop for 10 pips or so on each pair (gu and eu)

Will give call when I see it

should see it here

Update: sorry, wanted to give trade call, not prepared. my second set of charting is not coming up, and I really need to see them to get precise entry points, will update in a few minutes.

EU is showing faster flip here then gu, i will keep update as i see when i will short.

okay all my charting is up and running, now i can see what i am looking for lol.


EU turning down some, 1.4225 is support, it gives we go more

Short EU one position now, maybe a bit early, we will see soon enough

I am having some computer problems with my charting, so I am not responding as fast as I would like.

My short was at 1.4226 with a small target with this strategy.

I did not get a short GU, will have to wait on it for now.

GU Short would have been at 1.6448 area, that was my signal point. Did not get in.

Update: This was the run I was expecting 30 minutes ago, come on up and play EU and GU LOL

Top of hour run, lets see what happens at new hour open

Update: Okay, I am short GU and second entry EU, will set my targets and going to bed.
Will find out at 5 am if they pay out.

I do not trade these two sessions, I trade only ASIA which pays out great, lower risk usually, and predictable in most cases.

See you all in 7 hours for my update.

Please post if you read this, would like to hear your thoughts.

Update: Gotta like those big dips when you take a trade, the 15 min candle is pretty red, come on down and tap my targets.

I am waiting here for what will happen, I don't need alot of pips on a trade, my targets are small, but in a month I can really add up alot of pips when I trade carefully.

Come on down EU and GU, just a little more LOL