Taming The Beast: Cable EW Video Analysis

[EdMatts]

We love to trade Cable...its such a beast at times that can be so beautifully behaved.

Today's GBP Video analysis.

 

[elitejets]

If this is free analysis why has it been removed as an advert?
Are we going to remove carleyGarner's bond reports etc etc as well?

 

[EdMatts]

The Beast looks increasingly tame today if not a tad vulnerable short term

But good news for the expanding wedge on the daily chart.

http://tinyurl.com/GBP1304

 

[elitejets]

Nice video, thank you.
The mods asked me if you would write an article ...

 

[counter_violent]

Nice video, thank you.
The mods asked me if you would write an article ...

Did we !

 

[EdMatts]

Cable remains within an expanding wedge reversal pattern on the daily chart suggesting it will continue to fade above 1.64. And is now in a typical Cable topping formation above the 1.6175 pivot. In fact the failure to regain 1.6330 after hitting yesterdays 1.6225 corrective target is even better news as it risks a new s/t low below 1.62 to end a trend sequence down from 1.6425. But as the 1.6175 pivot survives we still a final rally over 1.64 before Cable breaks down to attack the 1.5935 low. Only over 1.6425 then can extend the rally to 1.6495 increasing wedge resistance before lower. (

Ed

P.S. Think people would prefer to see the chart though or ask me about it on Twitter maybe @EdMatts

 

[EdMatts]

Does it help or hinder knowing how Cable likes to trade? Seen this price action so many times before!

http://tinyurl.com/GBP144

But sometimes experience gets in the way!

Good Luck

Ed

 

[EdMatts]

The answer to how high Cable will spike http://tinyurl.com/GBP1504 really comes down to Euro Sterling...which given this view. http://tinyurl.com/EURGBP154 could tame the beast below 1.6425. Interesting dilemma!

Good Luck

Ed

@EdMatts on Twitter

 

[EdMatts]

How rude can the Beast be today...before it gets slapped down?

http://tinyurl.com/GBP1904

Good Luck!

Ed

 

[EdMatts]

Is the Beast finally about to be tamed.....exiting all longs and selling strength!!

http://tinyurl.com/GBP204

 

[Depth Trade]

How can you exit a position that you had never entered? I just watched every video and you never state entering either a long or short position.
All you have done is call random potential waves based off abstract variables, completely un-tradable.

Ed, the day you post calls with entrance price or market time stamp along with Stoploss, is the day you get smoked.
There is no way these random waves are tradable.

I don't mean to be rude, but come on are you joking?

 

[EdMatts]

I would start off by saying Mt friend...but your manners prevent that.I suspect I have done more successful trades than you have had polite thoughts. The difference is that I am willing to share my analysis and trades. What is more we take and share many of the trades we highlight. All you want to share is your rudeness...

I will open this thread and my comments to other members here so that they can comment. If they wish to support someone who clearly has some issues...I will bow gracefully bow out of here. If, on the other hand, they wish me continue posting here...I would ask you to consider finding more appropriate company! Perhaps your name suggests where that is...

 

[JRP2891]

Ed, firstly, congratulations on a professional looking product which beats most vendor's offerings on here. I would say though that the amount of support/resistance t-lines and waves you put on your charts means that one of them will inevitably hold. Depth Trade (and maybe other members) wants to see you make live calls with stops and targets in order to assess how you would go about trading your strategy which i think is fair enough. Also, that bit about you exiting longs seems a tad suspicious when all you've really talked about is how cable will break down. Regardless, i'd like to see your continued posting.

 

[EdMatts]

Thanks for the input. We publish our analysis and actual trades in a number of ways...if you follow me @EdMatts on Twitter you will see live trades I take...eg this morning hedged long date Euro calls taken 2 months ago, exited Cable and Aussie longs.. one reason..check out Aussie on October 1st 2010..we think there is an uncanny similarity with the price action back then..and I am buying short dated puts into the weekend.

The reason why we dont put specific trades on the videos is twofold...1) the vids are supposed to be a minute long. As a professional trader who has barely been without a position for the last 20 years..I need to justify risk/return parameters..as you well know...that should not be done glibly 2) My risk return profile is inevitably different to other peoples...I would not take trades that DepthTrade has on $Yen 'midstream'..its not that I think he is wrong.they are making money...he just trades different to me. We produce analysis designed to help traders from the intraday to the long term. Hence why it appears both wide and hopefully tight. Regards

 

[EdMatts]

Looks like the Beast has been woken!

http://tinyurl.com/GBP2104

And..I am square Cable...into the weekend...will look for a better risk/return buy early next week if it is still above 1.6425.

 

[Depth Trade]

Prove you can actually trade and you will thus prove you can teach or give analysis.

Simple, I really am not asking for much. If you can't trade your own ideas, what benefit is it ?