We can see on this hourly chart we are at the last level before a wide-open space. Let's see if the bulls can break it. image This is why I expect consolidation of sorts.

Trading the Cable swings via averages

Even consolidation at this current level is going to drag the average skywards.

Trading the Cable swings via averages

The next swing high on the 1-hour chart is 1.33966

Trading the Cable swings via averages

Looks promising hey! image Might take some time though.

Trading the Cable swings via averages

I couldn't see anything at all in the location you discuss. No bull div and no HD. The trades came a bit later as shown below... image The area you refer to is between the two vertical lines.

Trading the Cable swings via averages

Just hit the D of the 1-hour ABCD

Trading the Cable swings via averages

Duh! Turn the PC on?

Cable Update (GBPUSD)

Here is the 1-hour chart for the past week. Look at all those support and resistance levels. All those Big Breaking Bars crashing through the levels. The grid on this chart (grey and white) is my 40-pip distance. It is not very often that it doesn't ...

Trading the Cable swings via averages

To continue with the daily chart... I have spoken of the Big Breaking Bars (BBB) previously, I think I called them "impulse bars". Well, here on the chart below we see them in action. Notice only one of them turned around to make the breakout false. ...

Trading the Cable swings via averages

But where is the entry? Price can move a long way before running for home. On my charts I can see my entry, my stop and my expected target very clearly. However, I use the MT4 platform which may not appeal to people who think their platform is ...

Cable Update (GBPUSD)

I guess I am an idiot then, never back tested anything in my life. It proves nothing nor can it as price is only a perception of sentiment. We can measure the sentiment and calculate how far price will go when the sentiment changes.

Cable Update (GBPUSD)

I don't believe any candle has any meaning; traders just impart meaning to them. That is not to say it is a bad idea to do so provided there are entry and exit signals with stops for good money management. Simply draw a line on the chart to place a ...

Cable Update (GBPUSD)

Mind you I still think Bones is a "Dick" who thinks lines have magic powers. Looks at the radii he has here, one can only draw this after the fact which is useless to a trader.

Cable Update (GBPUSD)

I must agree with you here. How many cock and bull stories have we heard over the years. A bloke would go stir crazy looking for candles without wicks which are absolutely meaningless. The ones pointed out are over a period of 20 odd years and as ...

Cable Update (GBPUSD)

I was thinking of your situation as I was writing this. Let us know how it pans out. Try it with the smallest amount because the ZOO point on the daily may take a couple of days for the action to begin proper. A 10c per pip can at worst only be 10c ...

Trading the Cable swings via averages

Actually, I try not to say too much hoping you guys will figure stuff out for yourselves. The reason I posted this is because I just read about someone losing another fortune and thought it a good idea to add more protection for you guys. See how ...

Trading the Cable swings via averages

Just take a look at this daily chart. How can anyone possibly not make money by simply trading the averages. There is no theory or obscure wordage involved it is simply what you see is what you get. All these magenta circles are great ZOO points ...

Trading the Cable swings via averages

The thing with chart reading is that it is difficult to see the wood for the trees. The market will twist and turn to disguise its action and sorting through the mess can be difficult. To handle this, I look for the key points shown in the chart ...

Trading the Cable swings via averages

All I can do is show you all just how my trading method repeats over and over again. image

Trading the Cable swings via averages

Here you go... image

Trading the Cable swings via averages