don't think so at the current juncture, current posture is too risky to take a short for good risk/reward ratio...give it time....things will be resolved accordingly

Cable Update (GBPUSD)

pleasure is mine...we are ALL learners here...

Cable Update (GBPUSD)

on the 1-min GU, it's a bearish expanding continuation....the bear is in control

Cable Update (GBPUSD)

Personally, if we are looking for textbook case patterns in real time trading, you will NEVER find them; there are even more 'wacky' looking H&S than this one; this one, to me, is very symmetrically balanced. Also, many patterns will take days to ...

Cable Update (GBPUSD)

I agree, I put on more weighting on the downward sloping pitchfork...And that's why I 'capitalized' the word potential and I'm not committed to any directional bias yet. Have a good one

Cable Update (GBPUSD)

The attached is a 30-min timeframe, you can see the same POTENTIAL inverse H&S in the 15-min and 5-min timeframe as well..

Cable Update (GBPUSD)

pattern wise, it's an inverse Head & Shoulder in the making.

Cable Update (GBPUSD)

The modified schiff suggested by aohater was the reason price actions turned to the south now....

Cable Update (GBPUSD)

Re GU 1-min — If anyone is into pattern recognitions, this is a pattern i like to trade all the time. On this 1-min chart, it booked a profit of -50+ ppts. And this pattern appears in all kinds of markets: Dow, S&P, Hang Seng Futures, FX, ...

Cable Update (GBPUSD)

thanks for the idea. it's a modified schiff fork. If those moving averages and upper median line hold the up move; we'll have a good short setup in the making.

Cable Update (GBPUSD)

Thanks, eohater, for the explanation. Yeah, totally agreed. No point of doing the identical hedge and it's bad trading practices as far as I'm concern.

Cable Update (GBPUSD)

Ok, I got it, thanks Chris

Cable Update (GBPUSD)

I'm flat at the moment, correct me if I'm wrong, but by doing that, you have essentially locked in your profits on the shorts right? I have friends who have two different trading accounts as well; and I am still unable to see the 'benefits' or ...

Cable Update (GBPUSD)

Re: GU 15-min — GU is still being contained by the downward sloping pitchfork; meaning the down trend is still in force. As of now, there's no setup for an entry. If cable goes higher later; I'm looking to short at the upper median line; which ...

Cable Update (GBPUSD)

Navin, be a bit more patient to let the trade setups and/or patterns to resolve. the subsequent moves will prove to be a worthwhile wait. Keep up with your spirit.

Cable Update (GBPUSD)

1.5755?? u mean 1.4755?

Cable Update (GBPUSD)

thanks luckylurker for the custom pivot indicator. take care.

Cable Update (GBPUSD)

Re: 5-Minutes GU — punched through your said up sloping trend line already. BTW, today's run up on GU has formed an Expanding Top; price actions become unstable and must drive to the south to resolve the said pattern.

Cable Update (GBPUSD)

Re: 5-Minutes GU — Hi Everyone: Last night's run up of the GU certainly looks more corrective to than being an impulsive move; though, like some of the good people here, I got myself longed in the morning of Asian time zone at 1.5370 and ...

Cable Update (GBPUSD)

Re: 5-Minutes Gold — Greetings All: I'm new to the Trend Follower Indicator. The attached 5-min chart is the Gold market today (July 01 2008). Been waiting for the whole day for a long setup and finally it came. Could some of the more ...

Trend Follower 5 Minute System