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

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

LOL - like your chart......slightly long term for me, hope nobody´s trading that Time Frame!!

Daily Cable Analysis

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

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

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

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

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15 min chart — This is what I am seeing just before the London Opening

Daily Cable Analysis

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

Solid green line is a 200EMA of the close; dashed bands are -100, -200 & -300 of the 200EMA. I use the 200EMA on all TFs, with different band widths - price often reacts off one of the bands, depending on the strength of the move.

Daily Cable Analysis

Hi Katzenhai2, thanks for posting your charts. I´ve attached what I´m seeing - I´m not trying to fit these into your wave counts as we all see things differently - this is just my short term opinion. If price moves above C, my possible Turquoise ...

Daily Cable Analysis

For me, all I´ve seen since the end of February have been Yen driven, impulsive falls, followed by creeping, confusing corrections. Yesterday was a classic impulsive 5 wave drop on 5m / 15m TFs....again, so far, followed by a creeping correction ...

Daily Cable Analysis

I´m with you on this.....for me a triple C wave.....confused correctional C. The bounce of yesterdays low was 81 pips, this morning´s low +81 pips is 9352 - high so far 9353. Also, there is now a lower high on the 5 min, so perhaps this correction ...

Daily Cable Analysis

Continuing off the 5 min chart.... It looks as if the Asian session finished off an ABC type correction and that the fall from the 9326 high at about 00:55 EDT started a new move down - it needs to break under 9250 to confirm.

Daily Cable Analysis

New Indicator — I´ve found a new indicator for cable......its called the Yen! Close your Euro and Swissy charts and just open a GBP/JPY chart - the 5 min is just like cables 5 min. Cable´s about 110 pips below its 200ema - which is an extreme ...

Cable Update (GBPUSD)

5 min EW — Thanks Traex for your update.....messy waves or what! This is my 5 min chart as an impulsive move down just off todays action. IF the W3 Low holds, AND the W4 completes at say 9530, then the W5 targets become 9492 / 482 / 469. That ...

Daily Cable Analysis

The only thing that I´d dont like about IBFX is the way they widen their spreads in a fast market - especially around news times. In this respect, I prefer UGM with their fixed spreads. Both use MT4. Its always best to have at least two brokers to ...

Cable Update (GBPUSD)

My friends that used GFT called it Get Filled Tomorrow! They´ve all changed ...most to UGM, but that was down for about 20 mins this morning! - but my IBFX was OK, so guess it was a broker problem rather than a general MT4 one. <sure is hard making ...

Cable Update (GBPUSD)

Woops...need the screen shot! lol

Cable Update (GBPUSD)