I agree. And if I were in a healthy trade, I would let it play out. But with major news out in about an hour, I prefer not to initiate a new trade; and stand aside.

Cable Update (GBPUSD)

Forbidden Fruit — It is looking rather bearish on the lower TFs Jim. Especially as it flirts with the 61.8 fib from last week's high. I would like more confirmation on a 3 or 4 hr chart to trade it. But I won't be entering, especially because ...

Cable Update (GBPUSD)

Jim, I too made a hasty decision today, and veered from my usual analysis (because I didn't see a good set up). And just before UK house prices were out. Tut tut - slap Another lesson learned! Congrats to all those who went long today! A great ...

Cable Update (GBPUSD)

Spoony, It's all part & parcel of this business. Wins & losses. Even Soros has them and only fools laugh when he gets it wrong. Thankfully my net 670 pips on 1-3 lots so far this week make me very happy. I hope you've been just as profitable. After ...

Cable Update (GBPUSD)

*(uk) Apr Construction Pmi: 46.1 V 47.0e — (uk) Apr Construction Pmi: 46.1 V 47.0e

Cable Update (GBPUSD)

90 pip spikes as UK house prices fell — (UK) APR HBOS HOUSE PRICES: M/M -1.3% V -0.6%E Y/Y -0.9% V -0.8%E

Cable Update (GBPUSD)

Will the British Flag (pennant) Drop? — As usual great analysis by Jim earlier. I too tend to believe that we will see the continuation of yesterday's downward move. Although I missed it due to taking May Day off. Price is being cornered by ...

Cable Update (GBPUSD)

May Day Food for Thought — I trade with Jacko and am up to date on what his thoughts are since his last post on the blog at 2.30am NY time Thursday May 1. I know that he uses support lines, round numbers and the 50 fib when in a dip, to buy. ...

Jacko's Forex House of Pleasure and Pain

May Day Holiday — Note that the only European market trading today is London. The rest are on a May Day holiday. London will typically take its day off for May Day on Monday.

Cable Update (GBPUSD)

TEB, the other interesting observation is that price has not been in this position on the Euro (i.e. correcting itself with the 200ema 4hr from the underside) since early February. EDIT: I have spent more time looking at this and posted my thoughts ...

World's Simplest System

I agree Bones. Look at the 200 ema in relation to price on the monthly, weekly and daily. Then see where the 200 and price is on the 4hr. It's set to correct and get in line with the higher time frames again. This is Trader TEB's system and it works ...

Cable Update (GBPUSD)

Flight North from 1.9681 — Guys, We are 50 pips away from a trend line which has held out three times already. If we get there, the 300 pip wave shown below will have been accomplished. If we get there (we're not overbought yet), will the ...

Cable Update (GBPUSD)

Are you in this already TEB? I have a buy stop at 1.5670. Rob

World's Simplest System

Flight North from 1.9681 — The flight continues ...

Cable Update (GBPUSD)

Fomc Cuts Rate 25 Bps To 2.00% — FOMC CUTS RATE 25 BPS TO 2.00% - Economic activity remains weak - Vote was 8-2 for cut

Cable Update (GBPUSD)

Nice one Bones!

Cable Update (GBPUSD)

Hey Baz, I thought you were taking the day off. Nice day off for you ... +90! Excellent! The cookies looked too good didn't they! I will take 50% off at +100 which is 9 pips away, lock in "something" on the remaining 50% and let it go head to head ...

Cable Update (GBPUSD)

Flight North from 1.9681 — Folks I went long a few hrs ago at 1.9681 with a 100 pip SL. Perhaps I shouldn't have entered then with all the news but I did have plenty of underlying buy signals and the wave back up seemed almost as natural as ...

Cable Update (GBPUSD)

Hi bbmac, I was wondering where you get your daily ranges from. Are they off your charts or is there another resource which provides them? Thanks. Rob

Cable Update (GBPUSD)

Continuation Bear Move — Folks, I've used yesterday's screenshot to show this as I don't want to draw it again. I believe that we have room to reach the bottom trend line which goes off the page (just below the red box). About 1.9580. This ...

Cable Update (GBPUSD)