GBP looking bearish against everything. I think GBPUSD bears will be looking good if we sit tight. These types of moves seen today are always a problem for me. They reverse off a not-so-important spot and seem unnecessary. Plus, they could turn at ...

Cable Update (GBPUSD)

Glad it made sense to somebody! And man, I gotta be careful trading against you! Tell me your short now, please.

Cable Update (GBPUSD)

If we do, consider my stop as taken!

Cable Update (GBPUSD)

I think we're just taking easy stops before a big fall. I like how strong this move looks (not so much for my account!), but I like how it is very strong and persistent. I envision a similar move, only much longer-lasting after we bottom out near ...

Cable Update (GBPUSD)

Let's see what happens in 30 minute from now. I think there's a good chance we'll break the low today. That run up was too easy to enter if your a bull here, and probably made some bears bullish with its strength. We could see a strong drop at any ...

Cable Update (GBPUSD)

Twas a nice little run we just had, but I seriously doubt that low will hold. Still bearish, but you can see there is power waiting to be unleashed. And, as always, the market doesn't want to make it easy for anybody. But I think bulls are using ...

Cable Update (GBPUSD)

Last call...

Cable Update (GBPUSD)

But really, what is the big deal? A 4-month extension? It's just kicking the can down the road, no? Brokers have been paranoid as fuck since the whole SNB "surprise". How the fuck did they not see that coming? Well, some of them did, but many ...

Cable Update (GBPUSD)

Yes, it seems like a big gap is likely at this point. I REALLY don't see it gapping up.

Cable Update (GBPUSD)

Yep, its Friday night and I'm still drawing.:nerd: 1st chart is 4hr 2nd chart is daily

Zappa's Journal

Who'd think sitting at a desk would ever be so fun and interesting.:nerd:

Cable Update (GBPUSD)

It appears 1.5342 was the bulls' line in the sand. If and when this this breaks I expect a massive sell-off that will set us up for the low around 1.5015. That's what I'm thinking anyway. This low off 1.5342 today is tricky, and would have fooled me ...

Cable Update (GBPUSD)

Why would the pound follow the euro? Yeah, they generally move in similar directions, but I don't know if one is "following" the other one. Plus, look at EURGBP. It is possible (probable, I'd say) that GBPUSD has already made a long-term bottom ...

Cable Update (GBPUSD)

Bulls are definitely taking advantage of breakdown liquidity, from what I can gather. I don't, however, think we'll reverse here for good. Still seeing lower prices ahead before a bottom. And a break of 1.4952 is seeming very unlikely at this point.

Cable Update (GBPUSD)

Thank you! Same to you. And thank you, Spud! I'm glad you appreciate them! Hi elbert, I'm seeing some accumulation, but not strong buys. Bears still in control, I think.

Cable Update (GBPUSD)

It is really hard to predict where, exactly, a market will turn. That's why we must be aware of all possible scenarios and prepare for them. And really, the toughest skill to acquire is to be able to spot strong buyers and sellers. It is the most ...

Cable Update (GBPUSD)

Also, that big clump of waves right before the low at 1.4952 wreaks of buyers accumulating size, further strengthening the long-term bullish scenario.

Cable Update (GBPUSD)

See chart. Also, as stated earlier, these were impulsive bull waves all the way to the top. This greatly supports the case that 1.4952 is a long-term bottom, but it is still wise to wait for buyers before pulling the trigger yourself. Took me a ...

Cable Update (GBPUSD)

For sure, any shorts better be on alert around 1.5250 (we should actually always be on alert, long or short). But if selling looks heavy and buyers look weak, then no reason to ditch the short. There is potentially a lot left on the table in doing ...

Cable Update (GBPUSD)

Hmm...upon further review, it appears we might be heading all the way back down to 1.5000. I think it will make another bottom there, but I wouldn't go trying to catch the knife if it still looks like bears are in charge. It COULD turn around ...

Cable Update (GBPUSD)