?? — I won't even try to predict. I only react to what is happening. My days of trying to predict ended the same time I started to make money in Forex....lol.

Cable Update (GBPUSD)

Fibs — Here is the 4hr and if you understand Fibonacci, it all makes sense right here. PT

Cable Update (GBPUSD)

Good Point — Great point and as you stated earlier trading short at the end of the day by watching the Dow sell off has been a good strategy and would be again today if it were not Friday. PT

Cable Update (GBPUSD)

Good Post — Looks like we were looking at the same thing.

Cable Update (GBPUSD)

61.8 — Notice we bounce on the 61.8 on the hour chart. This is a two day move so this fib level is very strong. If we break through we could run another 100 pips for the day, but it is also a very likely place to turn. PT As I started to post ...

Cable Update (GBPUSD)

Yes — I would have taken that movement simply because it was a range of over 280 pips from the bottom yesterday and it seemed very likely would would bounce on the previous day's high as we do in most cases. I still have my second position in ...

Cable Update (GBPUSD)

Good Call — Good call taking the short from yesterday's high. I missed it but I was looking for 20 or 30 pips on the bounce. Could be more. PT

Cable Update (GBPUSD)

All about the Fibs — It's all about the fibs. We broke consolidation at the 23.6 area then turned just shy of the 61.8, where I took profit on my first position. We then bounced right on the 36.2 which is typical if we are going to continue ...

Cable Update (GBPUSD)

Another Look — Here is another way to look at things. I entered when we broke consolidation but let a candle open above the 23.6 of the last down move at 1.4780. I opened with 2 positions of 5 standard lots and set my target 5 pips shy of the ...

Cable Update (GBPUSD)

Good Post — Thanks for the post. This is what I see as well and is very helpful information for those seriously looking to understand what is happening in the market. PT

Cable Update (GBPUSD)

Perhaps Useful — Here is a look at the current 4hr chart. Forgive me because I have 3 sets of fibs on here but it seems to be following the last set which is pulled from the last dominant move from 1.6668 or there abouts. Notice how we met ...

Cable Update (GBPUSD)

Yes — This is very important to notice. We obviously have news out at 8:30 which will impact a little and at the same time we know this pair more than any other is following the lead of US Stocks. The Dow Futures are down for this morning so ...

Cable Update (GBPUSD)

Yes — I agree with close stops. It is easy to make up 20 or 30 pips in this market but not so easy when you let it run too long. I have been trading with the trend which is no doubt short but it would be nice to start a move back the other ...

Cable Update (GBPUSD)

Bottom — Bottom? Do you know something I don't. Please share!

Cable Update (GBPUSD)

Euro and 76.4 — There was a little discussion on whether the 76.4 was used with Euro. I say yes. I am a professional trader and was actually tipped to using 76.4 retrace from my friend from Citibank. I think any back testing will prove me out. ...

EURUSD

76.4 — This question was not addressed to me but I will make comment. The 76.4 is a fib area I use especially on the Euro/USD and it seems to be in play more on the lower time frames. I think you can see some serious bouncing on the 76.4 level ...

EURUSD

Hi Dave — Thanks for the welcome back. I hope you are doing well. I was put into temporary retirement from posting do to conflict with NFA guidelines but have now worked them out. I am trading full time and I will be posting again soon here. I ...

PowerTrading/The River

Great — Glad to hear! I will make some posts as soon as we get a Zone Breakout. Been pretty choppy today. PT

PowerTrading/The River

Back — I am back to post in again. I have become a Fund Manager and member of the NFA so there will be some restrictions with what I post and lots of disclaimers but I get so much help from the forum I feel like I have to give something back. ...

PowerTrading/The River

Hey Hondakorn, It looks like your boxes are drawn okay. It would be nice to see the days separated so we can tell where the trading day begins and ends. It is important to trade when there is price action and we break a point of consolidation with ...

PowerTrading/The River