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Daily Cable Analysis

  • #8,421
  • Edited 8:47pm Aug 3, 2009 9:55am | Edited 8:47pm
Now that were getting near the 1.7 range on GU, I have executed my first stage of Shorts.

Stage 1
Limit Order #1 (1 lot) 1.7050 - Target (to be determined at high)
Limit Order #2 (1 lot) 1.7250 - Target (to be determined at high)
TheCableGuy
  • #8,422
  • Aug 3, 2009 11:24am Aug 3, 2009 11:24am
[quote=TheCableGuy;2925723]Now that were getting near the 1.7 range on GU, I have executed my first stage of Shorts.

Stage 1
Limit Order #1 (1 lot) 1.7150 - Target (to be determined at high)
Limit Order #2 (1 lot) 1.7300 - Target (to be determined at high)[/quote

yup it would a perfect sell position...
wats your opinion in regards to another long from 1.70xx of 50-70 pips ??
  • #8,423
  • Aug 3, 2009 5:14pm Aug 3, 2009 5:14pm
[quote=elixerripple;2926058]
Quoting TheCableGuy
Now that were getting near the 1.7 range on GU, I have executed my first stage of Shorts.

Stage 1
Limit Order #1 (1 lot) 1.7150 - Target (to be determined at high)
Limit Order #2 (1 lot) 1.7300 - Target (to be determined at high)[/quote

yup it would a perfect sell position...
wats your opinion in regards to another long from 1.70xx of 50-70 pips ??
I was out all day, sorry for the slow response.

Even though I am looking for the 1.7050 area, I get real careful on trading longs, but I think a trader would do okay, if they catch the pullback first for entry.

I refuse to Long at a top, and I am not sure of the exact top as of yet, but I really am thinking 1.7149 from my personal experience trading GU during the time this price played a key role in resistance and range in previous years.

I hope for the 1.7500 area to hit overall, even though that would have my trades in some drawdown, but it would also reach my stage #2 series.

Let's see if we get pullback in Asia today, or just a straight blast upwards.
TheCableGuy
  • #8,424
  • Aug 3, 2009 8:45pm Aug 3, 2009 8:45pm
1.700

Just as expected, SHORTS are preparing battle...........
TheCableGuy
  • #8,425
  • Aug 3, 2009 9:48pm Aug 3, 2009 9:48pm
Stage 1
Limit Order #1 (1 lot) 1.7050 - Target (to be determined at high)
Limit Order #2 (1 lot) 1.7250 - Target (to be determined at high)

Short EU from NY session still in - Target (to be determined - possible long term trade)

Secondary Account
Limit Order #1 (1 lot) 1.6985 - Will be a high test of earlier
TheCableGuy
  • #8,426
  • Aug 3, 2009 10:28pm Aug 3, 2009 10:28pm
Quoting TheCableGuy
1.700

Just as expected, SHORTS are preparing battle...........
you mean we can go short from here but for short term or long term???

Ub
  • #8,427
  • Aug 3, 2009 10:51pm Aug 3, 2009 10:51pm
Quoting ubaidahsan
you mean we can go short from here but for short term or long term???

Ub
I am not making that decision for any trader.

I am in a sequence of trades here above the 1.7 level, my targets are going to be more then 10 pips for sure, I have waited a while to see this level and now I will patiently wait as it makes a u-turn in the range were going to see.

When I spoke of a move to 1.7 I had others say "no way" well, here we are, and if I say short, surely there will be a move up that will shake the house and get all the peeps here to say "what are you doing" LOL

Trades at our own risk are best, if we trade what others think, then are we traders?

I will wait this planned trade sequence out for some time, but eventually, I will see a numerous pile of pips with the stages.

Enjoy and trade what you see (feel)
Attached Image (click to enlarge)
Click to Enlarge Name: GU daily chart.PNG Size: 15 KB
TheCableGuy
  • #8,428
  • Aug 3, 2009 11:17pm Aug 3, 2009 11:17pm
As you can see in the two ellipse (gray) areas there is a nice range this could bounce in, that is why I say I am prepared to wait and ride the move down.

This move could take us to the 61.8 at 1.7761 area, and could cause many hard aches to see a draw down of 700 pips on just one entry.
Attached Image (click to enlarge)
Click to Enlarge Name: GU Weekly.PNG Size: 69 KB
TheCableGuy
  • #8,429
  • Aug 3, 2009 11:50pm Aug 3, 2009 11:50pm
Looks like you have been busy, I understand your sequence, but why not take the first entry short just below the 1.700 area?

Then you can add your stages as it expands and stalls.

1.7 was my original target to the top, I am in now and will do as you cable and give this turn around the time it needs.

I changed my GU to BEARISH when we hit it today.

Cheers, trade wisely, be patient, it will rise and fall on it's own time.
  • #8,430
  • Aug 4, 2009 12:01am Aug 4, 2009 12:01am
Quoting monarch
Looks like you have been busy, I understand your sequence, but why not take the first entry short just below the 1.700 area?

Then you can add your stages as it expands and stalls.

1.7 was my original target to the top, I am in now and will do as you cable and give this turn around the time it needs.

I changed my GU to BEARISH when we hit it today.

Cheers, trade wisely, be patient, it will rise and fall on it's own time.
Very true, a 1.7 short would have paid out nicely.

I guess I will have to wait for the test of those areas, if it is going to range above the 1.7 area, I do not want to be in below, even if it falls here 100 pips.

I will take 2nd tap or even the push through to the eventual high at 1.7149 to be a safer entry.

How are you doing lately, been a few days since we chatted?

see ya.

"the CG"
TheCableGuy
  • #8,431
  • Aug 4, 2009 12:08am Aug 4, 2009 12:08am
Still holding short EU, was very near the target I had at 1.4375, but thinking a dip to the 1.4355 area possible still??
TheCableGuy
  • #8,432
  • Aug 4, 2009 12:14am Aug 4, 2009 12:14am
Just a quick glance at the 4 hour, fib at 38.2 possible dip.

On the 1 hour, this is a wick top.
Attached Image
TheCableGuy
  • #8,433
  • Aug 4, 2009 12:17am Aug 4, 2009 12:17am
You can see the 38.2 fib sits right on that wick to the left.

Could bounce off the upper green trend line first.
Attached Image
TheCableGuy
  • #8,434
  • Aug 4, 2009 12:35am Aug 4, 2009 12:35am
No buyers yet, 2 yellow lines showing me lower each attempt, but the bottom is holding, looking like a wait and watch game.
Attached Image
TheCableGuy
  • #8,435
  • Aug 4, 2009 12:54am Aug 4, 2009 12:54am
looking at the 97/00 area, if it breaks we go higher, if it holds we could stay in this range.

5 minutes until Frankfurt stirs dust.
TheCableGuy
  • #8,436
  • Aug 4, 2009 12:59am Aug 4, 2009 12:59am
97 taps

You know me by now.
TheCableGuy
  • #8,437
  • Aug 4, 2009 1:08am Aug 4, 2009 1:08am
Figured we would hit a snag on the NO BUYER zone, so when it spiked up prior to top of hour, just short and get some.

Was looking for +10, but settled for +8, I do not like being in position at a market open time usually.

I guess I can go to sleep.

Still have my original short EU in, I will let that one bounce and play during Frankfurt and London, checking it around NY open time.

Good night.
TheCableGuy
  • #8,438
  • Aug 4, 2009 8:54am Aug 4, 2009 8:54am
Short EU from yesterday did not reach my target and closed for +10 pips this morning.

Secondary account Short GU for +60 pips.

Will re-enter GU at 1.6980 level and waiting for 1.7050 on primary account.
TheCableGuy
  • #8,439
  • Aug 4, 2009 9:40am Aug 4, 2009 9:40am
This is an updated EU 1 Hour chart.

Still ranging in that 00 level.

When will 1.4355 hit?
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Hour Update.PNG Size: 15 KB
TheCableGuy
  • #8,440
  • Aug 5, 2009 5:27pm Aug 5, 2009 5:27pm
I have not had internet connection for the past 24 hours, I had a secondary account Short GU at 1.6980 trigger and seen that it went up to 1.7040 area giving me about 60 pips in draw down.

My target is deeper down, so I will leave it in while I wait for the exhaustion on the top side to occur, which could be days/weeks/months.

My primary account entry was a limit order at 1.7050, missed by about 10 pips on the spike, but that is not the end, I am still looking for the 1.7149 to tap.

Trade good and have a great evening.
TheCableGuy
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