Looks like it finally broke.

Cable Update (GBPUSD)

image

Traders With LIVE ‘Trade Explorer’

Although my last buy positions in cable weren't too bad, my first 3 entries were horrible to say the least. I really should be more disciplined instead of jumping the gun and suffering a drawdown most of the day. I hope my target isn't as bad as my ...

Traders With LIVE ‘Trade Explorer’

You're right, it does look like a falling knife. I could be totally wrong about this (as I have been many times in the past). But I believe price will make another push higher to take out last week's high and then start dropping.

Traders With LIVE ‘Trade Explorer’

Thank you trumps. You also anticipated a bounce in the same area...let's hope we're both correct.

Traders With LIVE ‘Trade Explorer’

Price finally reached 1.3915 and now I'm expecting it to rise to 1.4040.

Traders With LIVE ‘Trade Explorer’

Haven't seen you post in a while...I hope that everything is okay.

Traders With LIVE ‘Trade Explorer’

This is my longer term plan for cable.

Traders With LIVE ‘Trade Explorer’

I'm also expecting a bounce more or less the same area as your rectangle.

Traders With LIVE ‘Trade Explorer’

Welcome to the thread RCtrader....I, myself, have burned more accounts than I care to remember. Anyways, I think now is a good time to call in your lovely bears for a ride (at least temporarily).

Traders With LIVE ‘Trade Explorer’

I was wrong about making a new low for the day. However, I'm still holding my short position as I see price heading down to at least 1.3915.

Traders With LIVE ‘Trade Explorer’

Closed my buy [email protected] and opened a sell position immediately. I have a feeling it's going down to make a new low for the day.

Traders With LIVE ‘Trade Explorer’

It's quite possible that cable will break down to form a new low for today; if it does, I'll add another buy position.

Traders With LIVE ‘Trade Explorer’

It seems to me that cable wants to take out last week's high.

Traders With LIVE ‘Trade Explorer’

I'm on a roll myself these days...if anyone had blindly taken the other side of my trades this month, they'd be a very rich person now. In other words, I've been a fool-proof contrarian indicator.

Traders With LIVE ‘Trade Explorer’

I agree, I also think the low of the day has just been made.

Traders With LIVE ‘Trade Explorer’

I was expecting price to make a retracement from 1.4100-1.4130 to around 1.4012, but price just blew past that area and then some. My analysis was dead wrong.

Traders With LIVE ‘Trade Explorer’

Based on my analysis, I anticipate cable heading up to around 1.4100 (but no higher than 1.4130), then making a retracement to around 1.4012 (but no lower than yesterday's [email protected]) and then making a push up to at least 1.4130.

Traders With LIVE ‘Trade Explorer’

Got out of my [email protected] Now I've entered [email protected] with a target of 1.3840

Traders With LIVE ‘Trade Explorer’

That's it....I'm not going to touch gold for the time-being. It's too erratic for my liking. Anyways, based on my analysis, I believe that cable is on the way to make a new high. My TP is 1.3950. Hi keeleytan, I hope all is well. I'm looking forward ...

Traders With LIVE ‘Trade Explorer’