I take plenty of cheeky trades here and there, power to you. I may join you on that long shortly once this retest is complete. Looking at 3276 on fibre and 5366 on cable as a possible entry.

Cable Update (GBPUSD)

What does your chart tell you?

Cable Update (GBPUSD)

Not yet, waiting for a retest. I don't pick bottoms, gives me smelly fingers.

Cable Update (GBPUSD)

We had a 140 pip run and are at a new month's low, what do you think the big boys are doing here?

Cable Update (GBPUSD)

Yes in 58 minutes.. just profit taking at the moment.

Cable Update (GBPUSD)

Not at all, it may well retrace from here it is overdue for one. There will be lots of profit taking on both fibre and cable here.

Cable Update (GBPUSD)

You still got your long at 33? I never buy against the rally. However you may get lucky, both fibre and cable have reached important supports.

Cable Update (GBPUSD)

We missed 32717 by a whisker am flat to see if the rally continues. IF we get a retrace target is 33603, ok back to cable what a lovely day sofar on these two.

Cable Update (GBPUSD)

Target reached, decision time.

Cable Update (GBPUSD)

I don't know, we'll see when we get there. I just know that when you get a london rally like this you never try to pick bottoms just keep selling it at every support.

Cable Update (GBPUSD)

I have my eye on 32717

Cable Update (GBPUSD)

You need to trade your own plan, however I am not going to buy here yet, she may have more in her, we haven't touched my target of 53463 yet.

Cable Update (GBPUSD)

PA having given up on 538, my downward target has just about been reached, am flat again.

Cable Update (GBPUSD)

Ah of course those lovely lagging momentum indicators that have bugger all to do with price....

Cable Update (GBPUSD)

And watch your 25ma on M5/15 that will need to show you the way first. It is still indicating a retest of the low.

Cable Update (GBPUSD)

Let it get close to 541 with another test of the low before entertaining a long. The more it gets tested the stronger it becomes. If it holds we will have a nice 90-120 pip ride up and NY will set the high for today.

Cable Update (GBPUSD)

Good call, but don't forget about 538, been here for a month.

Cable Update (GBPUSD)

Ma's, especially on cable are an important tool in the toolbox. I have experimented for years with different ones am really content with mine, I will have look at 1440 see how that fits in my trading plan.

Cable Update (GBPUSD)

Is that red one your 1440? I don't go over 365 for cable and never use Stoch's or Macd. Since 538 is holding am now looking to enter long in the next hour or so target 55

Cable Update (GBPUSD)

Yeah I use ma's for change of direction and identification of consolidation areas too, mainly use 25-150-365 on cable. 365 on M30, 150 on H1 both indicate to me that we have reached an area of consolidation/continuation; only a solid close of M30/H1 ...

Cable Update (GBPUSD)