It was really bad news, Obama is quitting, Gordon Brown is taking over, Carla Bruni is coming here and GU will go to 3.25 Oh shite, that is all good news.

Cable Update (GBPUSD)

You don't deserve those 70 pips, you greedy b@stard. Next time don't give 70 pips back to the market, just write me a cheque. May still see a slow creep back up to the DP. Have a look at the 25ma on M5, lovely lTL forming and it is following it all ...

Cable Update (GBPUSD)

The biggest thing to look for in FOMC is any dissenters. Edit: Hoenig still dissenting, no change. Could see a bit further weakening of the dollar, next target 5252, room for the long scalpers.

Cable Update (GBPUSD)

Little to no effect, we may see a bit of swings during the release but it should settle down after it. One way to trade news like that is pick the hi-lo 15 min before the trade and the hi-lo swing during the release as a range and trade the breakout ...

Cable Update (GBPUSD)

Lift your @rse, insert both thumbs and sit down again. Patience kiddo.

Cable Update (GBPUSD)

Why not wait and put in 100% at the level you really want and eat your cake too? Patience is so underrated in trading. I can spend 18 hours behind the screen with no setup and am happy at the end because I preserved my capital and like I said ...

Cable Update (GBPUSD)

This retracement is running out of steam, look at the 150ma on M15 and M30. I expect we are entering a bit of a range, expecially as London is closed and the NY boys are still out for lunch. We ended where we started the day and it may take TY to ...

Cable Update (GBPUSD)

Careful, not all my calls are right. Last night I took a long to see if the DB would complete and lost 40 pips. And not all my calls may suit your trading style, I tend to look for the 50-100 pip runs, and my first rule in trading is preserve the ...

Cable Update (GBPUSD)

Magix enjoys scalping and he is quite good at it, I hate it and everytime I get tempted I end up giving hundreds back in commission for no results.

Cable Update (GBPUSD)

The funny bit was I called it and spend 2 hours justifying it here while the price kept rising and most ignored it and were looking for shorts. Ah well, am not going to give up yet turning these m@r@ns into traders... Todays lessons: Lesson 1, write ...

Cable Update (GBPUSD)

Just got back from Waitrose, well this is no surprise and pawpaw, I did try to tell you in a nice way, next time I will tell you to close the f@cker... ppl argued for 3 pages about shorting, I called I was out at 513 and most disagreed. I even went ...

Cable Update (GBPUSD)

Here is my retest of 1.518, took an hour to get there. Still flat for now.

Cable Update (GBPUSD)

That's what I enjoy about this thread, we can all constructively critisise each other and bring new and good things to the table. There is always something we miss and always another way of looking at the same thing. In the last month or so I have ...

Cable Update (GBPUSD)

Yippeee, you are 6 pips in profit...

Cable Update (GBPUSD)

And while we are at it, what does the crossing of price have to do with a momentum indicator? Might as well look outside and wait for the mouse to enter the foxhole. And while we are at it what is with the volume indicator? So you know how many ...

Cable Update (GBPUSD)

You are still missing the point, I took my profits at 5130 at the first sign of the retrace, the initial swing high was at 5195 followed by a fake breakout to the bottom to 5168, where pawpaw got tempted into a short and then moved back to the swing ...

Cable Update (GBPUSD)

It is on my M15 as the next one to watch. I use the M5 one to keep an eye on the retrace to see its immediate direction, a piercing of that uTL on the M5 indicates to me the retrace has finished, still a long way off.

Cable Update (GBPUSD)

M5 uTL

Cable Update (GBPUSD)

M5 Chart to go with above analysis

Cable Update (GBPUSD)

I am still standing aside, M5 tells me that we are still in the retrace, with a couple of fake break outs to the down side. I can see at least one more test of 518 shortly which may then become support. The next test of 518 will correspond with a ...

Cable Update (GBPUSD)