If 9800 is broken it looks like 9780 fib and possibly lower.

Cable Update (GBPUSD)

I am fascinated to see what transpires this week. All my technicals suggest a break upwards towards 2.0 and possibly above. There is however limited GBP news that could have a major positive affect and indeed it is in the main predicted as negative ...

Cable Update (GBPUSD)

I know that the 23.6 fib is next logical support, but 9810 just seems to be extra stubborn. JMO

Cable Update (GBPUSD)

IMO

Cable Update (GBPUSD)

The most succinct and sensible piece of advice I've seen posted here. Thanks.

Follow the trend!

There is a lot of bull posted here and on other forums. At times, my own musings included. I have been viewing FF threads and Cable in particular since last November and on the whole it has afforded me a great insight into different trading ...

Who/WHAT do you trust?

UK businesses feel 'more upbeat' — UK business confidence is increasing despite higher interest rates, a survey by accountancy firm KPMG has found. KPMG said that 64% of the small and medium-sized companies it polled were optimistic about the ...

Cable Update (GBPUSD)

And to think that someone on this forum once accused me of drawing lines randomly on a chart.... Just a joke - I know you have a method and a reason.

Cable Update (GBPUSD)

Hadrys, I have not tried longer term trading yet, but I intend to run a demo account in parallel with my live account where I make several small trades each relevant day (not today though). I understand your point about the spreadsheet with regard ...

Are you sure you're a Day Trader?

Igrok, could you just explain how you arrive at your points of reference on the upper line of your down trend channel? It looks as if you only use the most recent activity. Is that correct?

Cable Update (GBPUSD)

Thanks

Cable Update (GBPUSD)

I have corrected my chart now and will know in future. I had already considered your advice about clean breakout. I thought I would go long after a day close above. Thanks.

Cable Update (GBPUSD)

So, if you sold and it reversed almost immediately, say after 8 pips profit and you ended up with a -50 pip loss the values are as follows: Profit Pips: -50 Max. Trade Profit: 8 Thanks.

Are you sure you're a Day Trader?

Dexis, a question for you about your example graph above. Have you included the spread in your pips profit (15)? Also, if the trade goes the other way and you cut or get stopped out, how do you enter the figures in the spreadsheet. For example, -5 ...

Are you sure you're a Day Trader?

The hourly chart also shows a bullish pennant as does the 4 hour chart (not shown).

Cable Update (GBPUSD)

I hope I have got the fibs up the right way! To me it seems, the last major up channel move eventually retraced back to almost the 50 fib and this down channel move has already retraced back up to it's related 50 fib. The down channel pattern is ...

Cable Update (GBPUSD)

Thanks for the spreadsheet Dexis. I'll give it a try.

Are you sure you're a Day Trader?

Dexis, assuming that you are successful, it seems to me that you are one of those blessed traders. Able to identify a trade no matter what time frame. I am passionate about FX and along with many others would pay handsomely for a bottle of the type ...

Are you sure you're a Day Trader?

I agree. A 30 pip bull move on the back of a poor housing figure does suggest a bear move is not far away. Given the 20 pip retrace I think your short may be safe. JM2C

Cable Update (GBPUSD)