Still not ready to short (scalping ok by my book for 12-20pips) until at least 1.2333 is hit...don't forget we have Tuesday today...

Cable Update (GBPUSD)

shahab8b, yes, you are correct we have a law of the charts and it's called Dow Theory. image Quoting Mitiblotch .........for the market's structure students... the second chart is an excerpt from the course on Andrew's pitchfork posted some time ...

Cable Update (GBPUSD)

ozalid, anything possible, yesterday I even fantasized about bat pattern... but too many green bars in every swing and I dropped the idea.

Cable Update (GBPUSD)

ozalid, I had also thought about 1.2140 (AB=CD) as my target but I settled on 1.2169...Thanks for the "triangle" saved me a lot of aggravation because I entered the short trade during the Tokyo session on the 3rd touch.

Cable Update (GBPUSD)

navk, that's what I was talking about (45,38,56), yesterday NY session 17 patetic...and until Tuesday daily ATR(14) was 140 pips...

Cable Update (GBPUSD)

navk, we New Yorkers are good people...but Tokyo saved my a$$ on this pair for the last 3 days (look for the entry during Tokyo session between 9:30-10:15 p.m. -reversal time)

Cable Update (GBPUSD)

Hi Miti, yes indeed, 3 days of selling and still 61.8%% retracement level (136 pips/ 3 days=about 45 pips per day) not reached out of 222 pips move up ...

Cable Update (GBPUSD)

shahab8b, indeed it looks like correction (overlaping sections) and not impulse move to the downside...someone is buying.

Cable Update (GBPUSD)

Moty and his vise for squeezing the pips.

Cable Update (GBPUSD)

shahab8b, I only double check your work...

Weekly COT report Analysis + Trade Ideas

we are on the same page...

Cable Update (GBPUSD)

...or sell in May and go away...

Cable Update (GBPUSD)

thevisitor, I don't use them too, but I know what traders who use them will do... I entered short during the Tokyo session so my pattern 12345 can be completed and inside day/doji confirmed direction when the YL was taken out...Now we have ...

Cable Update (GBPUSD)

Moty, yesterday was inside day/ harami...just follow the rules on how to trade it...

Cable Update (GBPUSD)

shakmoney, use my chart too...

Cable Update (GBPUSD)

target #1 attained...

Cable Update (GBPUSD)

Moty, if you can take 40% of the daily ATR(14)/or ADR you are good if you can get 60% you are very good by the standards of a decent trading company not bucket shop. Think about it, because during London/NY session you will have always two ...

Cable Update (GBPUSD)

I know -seriously...I trained you well......I am happy to see your flexibility and recognition of other options...that's the way to go, ability to reverse when original thought doesn't pan out

Cable Update (GBPUSD)

nothing lost yet... CD leg should have 5 swings...

Cable Update (GBPUSD)

by the book...

Cable Update (GBPUSD)