What is it I smell here?

Cable Update (GBPUSD)

A few points here, there is no EU IMF, Russia does not have that kind of money and Greece has no long term debt, it is all short term unlike the UK for example. Also the total debt of Greece exceeds their annual GDP, unlike again UK where it is only ...

Cable Update (GBPUSD)

Not at all, there is going to come a point where the public opinion in the richer countries will no longer support a bailout of the ones at the fringes. They are talking 130Bn for a Greek bailout and 400 for the Spanish ones with only 3-4 rich ...

Cable Update (GBPUSD)

PA bounced right off the 25ma again on M5, this move up has not lost steam yet. The fervor of the bounces are getting less so she is ready to top out sooner or later. I am not going to call the top yet. Am still flat after the mornings run to 5243, ...

Cable Update (GBPUSD)

Nah, keep it as it is. Gotta keep that half cloggie out.

Cable Update (GBPUSD)

The only chance they have is for the other euro countries to swallow their pride and let Greece get out of the euro, devalue the drachma and reenter at a more favourable rate in a year or so while defaulting on their debt like they always do.

Cable Update (GBPUSD)

Tonight is the final debate, the UK has a weird system called first past the post, luckily even with the Libdems holding 30% of the seats they will only get about 95 seats or so and with Labour in 3rd they will still get the most seats, the ...

Cable Update (GBPUSD)

I'll buy it of you if you throw in a couple of billion. Won't take drachma's or euros though.

Cable Update (GBPUSD)

I am not shorting this yet either. Good for scalpers though, lots of consolidation around the resistance. This is where the HFT's go to work.

Cable Update (GBPUSD)

The high of yesterday's bar at 1300 london time. It was 52427, that's my key level for this move up. I called it last night as my target. 52873 is the next one, the high of yesterday 0500 BST

Cable Update (GBPUSD)

I don't use indicators, we are at resistance on H1 after 124 pips up, what is the chance of it going further? Give me the odds.

Cable Update (GBPUSD)

Yup, looking for my 2-3 trades a day on cable at 50-100 pips, be gentle, respect her, treat her nice and she will reward you. Jumping in like a bat our of hell scaring the sh!t out of you and her will not get you anywhere. Respect her resistances ...

Cable Update (GBPUSD)

Why would anyone buy or sell at 5247, we are at a pivotal resistance on H1 with no clear direction why not wait until we have a confirmation, lots less stress, lots less risk, greater rewards.

Cable Update (GBPUSD)

I always use the river analogy. I wait for the river to start flowing and jump on my lilo with a beer in hand to enjoy the ride, I don't jump into the rapids. I may miss part of the ride because I don't get in at tops and bottoms, but my ride is ...

Cable Update (GBPUSD)

Uptrend on H1? with a high of 5496 on the 26th at midnight and we are now at 1.52507, how is that an uptrend...... I call this a retrace, entirely different animal.

Cable Update (GBPUSD)

We must be close, M15 is running out of room on my screen.... Now where is that zoom button.

Cable Update (GBPUSD)

My key here is the apparant rejection of 5243, I am giving it some time before I change my bias to bearish for today. Yes H1 and above are still bearish, M30 and below are bullish. Once they all line up again we will see 1.51. Untill then one needs ...

Cable Update (GBPUSD)

5243 was my target from last night, we have moved on from there. See my posts since for my plan.

Cable Update (GBPUSD)

Above still in play, there is a bias to the upside on M5 and M15, we had a close on M30 above 5243, eyes now on 5281. M5 bounced of the 25ma like a wet cat of an electric fence. Range now 5243-5281

Cable Update (GBPUSD)

And look at your 25ma on M5, that is still telling you we are consolidating with a slight bias to the upside. Then look at the 25ma on M15 together with the 150ma that is telling you also that a short is not valid yet. Then put up a lTL on M15 and ...

Cable Update (GBPUSD)