A method and system for monitoring a cable within a coiled tubing is disclosed. A first set of excitation signals is applied to the coiled tubing at a first point in time. The first set of excitation signals comprises one or more signals applied at one or more depths. The cable is positioned at a first location within the coiled tubing at the first point in time. A signal corresponding to the first set of excitation signals is detected at one or more fiber optic lines associated with the cable and location of the cable within the coiled tubing is determined using the detected signal corresponding to the first excitation signal.