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- Islander replied Mar 21, 2007
Nice trade...I sold at 9630, but got out before the BOE news....7/2 would have been +ve and 8/1 was a surprise. Will cable now be able to get above todays high of 9652 and make the extra 19 pips to its 100% retrace of the last big fall at 9671? It ...
Daily Cable Analysis
- Islander replied Mar 20, 2007
GBP at 7am after UK CPI — Has the 110 pip spike up following the UK CPI data completed an ABC correction OR has it started a new move up? IF it has started a new move up, here´s a possible wave count - in blue. We´ll see what the market ...
Daily Cable Analysis
- Islander replied Mar 19, 2007
I would also suggest that every day you look at the Daily Calendar on this site and check for the upcoming News Releases....if you have a Red one that might effect the pair that you´re trading, I would consider exiting or reducing any open positions ...
New to Forex: Need Advice
- Islander replied Mar 19, 2007
Sorry...I hit Submit instead of Preview....lol....should read..... "following forex before trading live"
New to Forex: Need Advice
- Islander replied Mar 19, 2007
Hi Adelbi - I´m fairly new to forex too, but I have traded futures for more than 15 years. I then spent a year following fores before trading love. I would suggest that you try to keep your charts as simple as possible - dont become an indicator ...
New to Forex: Need Advice
- Islander replied Mar 16, 2007
Another typo....935 should read 9535...lol at 935 cable´d be leading the Euro.
Daily Cable Analysis
- Islander replied Mar 16, 2007
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 ...
Daily Cable Analysis
- Islander replied Mar 16, 2007
Yeah, cable´s 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 ...
Daily Cable Analysis
- Islander replied Mar 16, 2007
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.
Daily Cable Analysis
- Islander replied Mar 16, 2007
Friday LO — 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 ...
Daily Cable Analysis
- Islander replied Mar 15, 2007
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 ...
Daily Cable Analysis
- Islander replied Mar 15, 2007
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 ...
Daily Cable Analysis
- Islander replied Mar 15, 2007
LOL - like your chart......slightly long term for me, hope nobody´s trading that Time Frame!!
Daily Cable Analysis
- Islander replied Mar 15, 2007
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 ...
Daily Cable Analysis
- Islander replied Mar 14, 2007
For a moment it looked as if the 8:30 data would give a push down towards my wave 3 targets......but instead, cable made a double bottom and rallied, invalidating my turquoise wave count. Now to see if 9353 holds and causes a pull back.
Daily Cable Analysis
- Islander replied Mar 14, 2007
I´m seeing the same....off 5m / 15m now in a W3 down, just hit 1.236 extension at 222.78. Probable retrace to 223.28 or 223.42. W3 1.618 at 221.30 - just above my 4 hour W3 low at 221.10. The way the Yen´s leading cable in lightning fast moves I ...
Daily Cable Analysis
- Islander replied Mar 14, 2007
That´s a nice trade....I think we should have a retrace, targets are: 9244 / 253 / 261. Much more than that would suggest that the fall is over for now. UK Claiment Count & Average Earnings at 5:30 EDT
Daily Cable Analysis
- Islander replied Mar 14, 2007
15 min chart — This is what I am seeing just before the London Opening
Daily Cable Analysis
- Islander replied Mar 13, 2007
NP - after you have an EMA on your chart - say 200EMA of close, go to: Charts, Indicators List, Moving Average (select the 200EMA) Edit, Levels, Add...then put in the levels that you want, both + and - , select the colour and style, OK, Close image ...
Daily Cable Analysis