I am basically trying to say that I consider it very possible that it may take out the bottom of 18 May, then rise a bit, then take out that lower bottom as well, and THEN rise to take out the double top of 1.2650

Cable Update (GBPUSD)

Such long-legged dojis often give us a target on both sides. The price will seek to take out both the high and the low. First, it will push and smash through one, then it will reverse and go hunt the other extreme of the doji. In a smaller ...

USD/JPY Discussion

Sharks are known to eat puffer fish, but there is also this alternative puffer fish suspicion posted here a few days ago.

Cable Update (GBPUSD)

I don't know if I made enough sense. It's the similarity of the character of the price's movement (usually on daily charts) to past periods that alerts me to the best opportunities. Not the price's movement through/towards or away from specific ...

USD/JPY Discussion

God I hate speculating on this pair... But so be it...

USD/CAD

I have found that it's not so much specific levels and zones that matter for trying to predict and catch big moves. It's more noticing the pattern of movement and matching it to a precedent. Pattern similarity frees you from getting tied to specific ...

USD/JPY Discussion

I know I said I don't particularly like to trade the USDCAD But some opportunities are too good to not try and take. new Trade: LONG USD/CAD 4-hour chart attached

Trading with Luke

I have for now exited these GBP/USD long trades for around 165 pips profit. Still short EUR/GBP and EUR/USD, and still long FTSE100

Trading with Luke

My puffer fish has exited the long from Friday for now. About 165 pips higher than when the feeding began. It needs to digest. It is now hunting on the EUR grounds, but it will return!!

Cable Update (GBPUSD)

Hello Adex, as it transpired, this trade did not reach TP level and then it sank below the Stop loss. That's because it was bought at near the peak of what was actually an exhaustion warning candle on the 4-hour charts. This happens all the time, ...

EUR/GBP - What a great pair to trade!

As my puffer fish suspected, this pair has been languishing in a tight range for days now, after the initial bullish fak...sorry, I mean breakout! But, I reckon it is now only a few days away for that final lethal SPIKE north heheh

USD/JPY Discussion

Hello again Well, I just added a short EUR/USD gamble. I was watching price after it posted a big bullish engulfing candle on the hourly charts 4 hours earlier. Which, as I have said before, is a signal of potential exhaustion of an uptrend, when it ...

Trading with Luke

There were no self-learning algorithms and trading neural networks faster than light during old Victor's times though

Cable Update (GBPUSD)

oh boy...

Cable Update (GBPUSD)

Posted daily chart on May 19th and what the chart looks like now

EUR/GBP - What a great pair to trade!

The reason for the GBP/USD gamble is this view of what the market possibly had in mind for Cable on the dailies. I posted this first on the Cable Update thread, on 11th May Daily chart on 11th May:

Trading with Luke

Third and final update, my GBP/USD LONG gamble, which I took on 22 May as the price was crawling around 1.2170 and posted about it on the "Cable Update" thread at the time. Original entry and update

Trading with Luke

Next, my FTSE 100 LONG gamble, which as I posted on post #49 on this thread, I entered into as the price bounced off the 50% retracement level of the prior leg up. My target is the high of the "bearish engulfing" daily candle of April 29, which I ...

Trading with Luke

Well yesterday London and NY were closed for a public holiday, so there was predictably little action. The trading week in essence began today, so I guess it's time for an update on my Long FTSE 100 Long GBP/USD and Short EUR/GBP positions from last ...

Trading with Luke

Perhaps. But remember: the beginning of a strong new uptrend always shows up as heavily "overbought" I commented on the danger of overbought/oversold indicators yesterday, on this thread

Cable Update (GBPUSD)