Dan, Just been looking through your impressive statement posted earlier....trying to learn as always. Just wondering the significance of the 1.5882 level you sold at twice? I think I can understand your first short at this level....probably a PA ...

Cable Update (GBPUSD)

Thanks samir.

Cable Update (GBPUSD)

Nice trade samir. If you get a chance would you mind posting a piccy of that Gartley please?...I missed it. Thanks

Cable Update (GBPUSD)

Thanks trending, I'll take a look...

Cable Update (GBPUSD)

Thanks Trending. When you range trade a higher T/F would you look for confirmation of a turn at the S/R level first or just enter where it rejected last time and close out if it carries on through? My guess is you just enter without confirmation ...

Cable Update (GBPUSD)

Hope so Tommy. I'm not great at jumping in without confirmation of a turn but I guess after a while you get a 6th sense for whether it will break through the S/R or not. Would love to add this technique to my arsenal.

Cable Update (GBPUSD)

I see lots of references to scalping but I've never really understood the technique. For instance, when cloggie said he was scalping the 1.5838 level does that mean: 1. He has seen that level rejected one or more times before. 2. He sells as soon as ...

Cable Update (GBPUSD)

My position was opened at 11:50. Should probably have taken 20 when I could before the news but if I had it would have dropped like a rock. What is the recommended action in such a situation...always close out before news, widen stop or move to B/E ...

Cable Update (GBPUSD)

If it's any consolation, I got stopped out too on what looked like a nice short. I was hoping for at least a 38.2 retrace on the big move up. This whole market is geared to take out the weak hands like me. Find any logical low risk entry point and ...

Cable Update (GBPUSD)

OK thanks samir. Still learning to recognise these patterns.

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Doesn't a Gartley need a 61.8 retrace on the AB leg before the CD leg puts in the 78.6? Do these things still work if the pattern looks roughly right? Thanks

Cable Update (GBPUSD)

Thanks for the advice today Cloggie. I'm learning..

Cable Update (GBPUSD)

Yeah, I tend to trade bar breaks which means if the PA subsequently turns ugly, I have to swallow a 10pip plus loss. I bet guys like Cloggie get in ahead of any confirmation and when it comes back on them they can exit B/E. It's hard but we'll get ...

Cable Update (GBPUSD)

Thanks Cloggie, I'm saving all this stuff and will review and review until I get it right. I feel a bit of a fool today....made pips...gave it back! I identified the diamond on the H4 and went long off the PA on the retest. So far so good. Price ...

Cable Update (GBPUSD)

Ahhh, early entry is the key. Looking at the 5M PA there's no way I could have got myself in at 5701. Was that a case on intuition or was there a clue in the patterns? I see the M5 IB sitting right on the Daily S2 level and I might have considered ...

Cable Update (GBPUSD)

OK thanks, that's what I need to work on. We just had a 5 min close above your 5716 level. I guess you would have entered on the break of that bar? You haven't mentioned the weekly pivot at 5724 though. How did you know that wouldn't stop the move ...

Cable Update (GBPUSD)

This is great stuff Cloggie, I've picked up a huge amount from your posts. It is appreciated. I think what's missing for me is knowing what constitutes a level holding or failing. Do you watch the M5 PA for this or wait for a bullish/bearish bar to ...

Cable Update (GBPUSD)

Thanks Cloggie, you make it sound so easy! So...those levels you quoted earlier were all drawn up this morning 5747-5716-5747-5777-5808? Do you use all daily, monthly and weekly pivots? Also, which fib extensions do you think are worth plotting ...

Cable Update (GBPUSD)

Hi Cloggie, I'm pretty impressed with your level calls. Trying hard to figure out how you come up with the level values you quote as my lines are often way off. Do these figures all come from the M15? Would be great if you could describe how I can ...

Cable Update (GBPUSD)

PA/Volume still bullish in my book. That M15 IB could propel things higher if it breaks.... Edit: There she blows.

Cable Update (GBPUSD)