What downtrend? You mean this little 38% retracement of the uptrend of the last 2 years? And I'll dare say price already hit bottom. It all depends on your perspective...or timeframe. On the very short term I am short...but it is counter-trend. ...

Cable Update (GBPUSD)

For now I'm short with you, already posted my reasons why but I see it only as best a few pips on a countertrend move, price already bounced off today's 38% retrace level, let's see if it's contained by previous resistance at 9700-9710...or blows ...

Cable Update (GBPUSD)

Topping out? — Along with resistance at 9700-9710 , I see in the candles a top depending on which tf you look at....RR track on the 1hr(depending on how this hour finishes); a multi top on the 15min, and a 1-2-3 top on the 5min. Also, negative ...

Cable Update (GBPUSD)

Amazing how they work...much resistance at the daily m4 level about 9710, and the weekly r1 about 9700.

Cable Update (GBPUSD)

By nature of it being called a Top, price should go down. Unless, of course, it doesn't.

Cable Update (GBPUSD)

Actually, Candlesticks eliminate a lot of information. They are a filter. They only show OHLC for a given period of time. They show very little about price movement between the open and close. As for what they tell you about price situation and ...

What Is the Best Indicator?

Price is the best indicator.

What Is the Best Indicator?

100 pip stop loss on the cable, Yikes!! What kind reward are you expecting with that much risk? You should be able to figure out that your trade is not working long before that. Maybe a 100 pip stop loss on GBPJPY, that can easily move 500 pips ...

Cable Update (GBPUSD)

If numbers bad for US, why would Cable go down?

Cable Update (GBPUSD)

A lot of good advice already here. You're probably overextending your account and risking way too much, among a lot of other mistakes. There is a lot to be said about trying to make it with a small account. You are probably undercapitalized to even ...

blew my account

Well, the best indicator I have, the price indicator, is UP 90 pips from todays low. What do you think?

Cable Update (GBPUSD)

A W- or 1-2-3 bottom on the 15min, with the top about 9550. Lots of resistance at that level, see which way this goes. I'm long from 9517.

Cable Update (GBPUSD)

COT Report — The COT report shows the commercials and speculators at extreme opposites, with the commercials LONG on cable. Usually, if not always, the commercials are proven right with a significant move in their direction. That's not to say ...

Cable Update (GBPUSD)

Maybe God can cycle this thread back to it's topic. Sheeeesh! What happened to this thread? It used to be at least entertaining at times and sometimes informative for fx trading. But the last 24 hrs .... First Rouge$Trader gets suspended for posting ...

Cable Update (GBPUSD)

H&S Pattern — It's at the bottom of a down run, probably won't amount to anything significant.

Cable Update (GBPUSD)

Chart Pattern.... — From the current 5-min Cable... I was going to call it a Head and Shoulders Pattern, But it looks like a different part of anatomy.

Cable Update (GBPUSD)

Good luck with that. Get ready to blow account #5 (for reasons others have already stated.)

Go Kimi !!!

Probably #2, especially if you are loosing money. That's the risk of leaving trades over the weekend or holidays. Check your broker's site for their policy and then see what happens.

Cable Update (GBPUSD)

Wow, this is called "Cutting your profits short and letting your losses run." A sure formula for loosing money. You clearly did not establish your exits when you entered the trade. I don't see anyone here claiming they made +256 on that move...Do ...

Cable Update (GBPUSD)

MACD Divergence — Okay, here's a picture. I used the two MACD swings you mentioned, and ignored the little blip at about 7:30 on my pic. You have to be careful with it, It looks great after the fact, but look closely there was divergence ...

Cable Update (GBPUSD)