For the formation fans.... Check out the completion of the bull flag... Of course subject to interpretation, and within a 10 pip margin... Close of top candle - beginning of the play / 2 + top of the chart = completion of bull flag. So, lets do ...

Cable Update (GBPUSD)

Really nice observation. Personally, I see this as being a bull trap.... But, because of my play style, I have to assume the current trend, which is still to topside. Because of the iffy market as of current..I am only playing single lots and ...

Cable Update (GBPUSD)

Correct.

Cable Update (GBPUSD)

Like on chart posted last night....because we didn't lose support on the daily chart...(green line, 24SMA), price held and went back to daily resistance...(red line, 200ema). Stuck playing daily SR... A break for true direction is needed IMO, ...

Cable Update (GBPUSD)

Agreed...daily is about same line, 200ema on daily chart.

Cable Update (GBPUSD)

Excellent observation, and much the same thing I am looking at.... BUT.... Because I try to keep an eye on all time frames...you have to keep the support line of the 24 SMA on the daily as well..Because we are above this line, we have support by it, ...

Cable Update (GBPUSD)

Actually... What closes gap is trace back to the 4hr 24SMA support line (red) with dotted white line as first line of support. On the last break to the north, we took 2 runs at the 200EMA with its first bounce off of these supports.... Ima guess, if ...

Cable Update (GBPUSD)

Personally...I don't spend a lot of time looking for chart patterns...I watch for support and resistance ranges. We are below support on the right shoulder, and it needs unless i am mistaken to be the higher of the shoulders...I just thought I would ...

Cable Update (GBPUSD)

H & S... Head and shoulders pattern on the 1hr...and why it should play out... Red circle is drop below support, right shoulder could not close back above support so we see the fall. As we are below hourly support, expected retrace is back to 200EMA ...

Cable Update (GBPUSD)

I am still on the short side of things... Albeit I have closed a couple of my lots, I am still holding short. If we go up again, I will short more... Yeah, I know, we look like a long chart now, but still below the daily support and I gotta target ...

Cable Update (GBPUSD)

The 4 indicators (.ex4, .mq4)go into your experts/indicators folder. If you did a standard installation, directory should look like this... Crogram Files(Brokername)MetaTraderexpertsindicators From there, add the simplex.tpl to templates folder. ...

Cable Update (GBPUSD)

Near as I got it figured...a true H&S has to have a higher right shoulder then left...which is what we actually just saw/are seeing...But as far as goes, I will stick more the the falic or obscene form of this, and will now and from here on out ...

Cable Update (GBPUSD)

url See link....Way ahead of ya on that one mango.

Cable Update (GBPUSD)

With you there brother. We are below the daily resistance, above the 4hr support, and slowly up-trending... We are mid channel as far as I can see...here...I think the chart is able to put a big hurt on me...will sit out and join in the fun next ...

Cable Update (GBPUSD)

Price currently stalled for the bulls, held back by the 24SMA on the 5 and 30m charts, 55EMA on the 15m...Again, I am still short minded, but if confirm on the 15/30m I would consider a retrace on the bull movement.

Cable Update (GBPUSD)

Break through of the hourly and h4 resistance seen price move up to daily resistance and get rejected. We are still below the h4 resistance line but just above the hourly support. For me...I will still assume the downtrend, but will not play until I ...

Cable Update (GBPUSD)

I am not a big fan of candle stick patterns, but this one seems timely and appropriate...This is just a guess, but follow the red line, I think you will agree that the charts are trying to speak, and this time, it's more then just a candle pattern, ...

Cable Update (GBPUSD)

1.6009 seems to be the line in the sand now...

Cable Update (GBPUSD)

There u have it Ctic...no reason to sell, look at all these guys buying.

Cable Update (GBPUSD)

I am a long way away from confirmation to short side here.... IF we do confirm, I prolly be tucked deeply into a sleep by then, so will see what you guys have left me for the morrow... Will hang out for a little bit, see if there is any more damage ...

Cable Update (GBPUSD)