50% Fib Area — It would be nice to see the cable come down from here as im short 1.6425. I do think though we will test the 50% fib area once more before we drop (1.6470 region).

Cable Update (GBPUSD)

Hi Navin, Not being unfair here to antic.. Im just saying all you can do is try and roll the dice in your favour as there is no 100% clear signal trade and if it dont work out after that...forget about it and dont let it effect your next trading ...

Cable Update (GBPUSD)

Well said GM..... 'Antic81' you can only load up the odds in your favour before executing a trade i.e. do your homework. If it dont work the way you want it, forget about it and move on to the next trade with a clear head.

Cable Update (GBPUSD)

True.....lets see if this trend channel resistance holds.

Cable Update (GBPUSD)

todays Market prolie so far — We have a big ledge that has formed at the 1.6345 area from the Asian overnight trade and london open. Once we broke out of this it is almost exactly where we pulled back to. My sell order at 1.6346 didnt get ...

Cable Update (GBPUSD)

For the newbies....textbook Breakout supp/res trading. Piont here is if you miss the breakout like me because you making a coffee then wait for the pullback as price almost always comes back and test the old support as resistance. On the occasion ...

Cable Update (GBPUSD)

Morning Javajames, Glad you liked the MP indicator. I can see Godfrey has already attached you a copy of the indicator. It looks like the exact same indicator so let me know if you have any probs. If you need another copy let me know. One thing I ...

Cable Update (GBPUSD)

The indicator in the chart I posted earlier is a 'Market profile' indicator. It basically prints a letter or color where price has traded NOT volume, and over the course of the day starts showing you where price has trade most or very least. I have ...

Cable Update (GBPUSD)

forgot to attach a chart...thought it might just explain what I was saying. tc

Cable Update (GBPUSD)

Hi GM, 1.6370 does seem a bit out for the value area???not sure how that came about from someone. Looks like we've almost formed a double distibution day here from the MP chart. I reckon we will trade between 1.6341 and 1.6324 for a while now until ...

Cable Update (GBPUSD)

bring on the dollar bulls

Cable Update (GBPUSD)

I have exited and banked 80pips from the previous sell at 1.64040, TP 1.63223. This channel support is proving tough to break and it looks like the cable will need to pull back and gather more momentum before we can push through. The second chart ...

Cable Update (GBPUSD)

38.2% Fib level and 1.6415 level has acted as good resistance. 4hrly trend channel resistance also holding. A breakout from the bottom of this 4hrly channel could see us testing existing support as resistance and then head lower to the mid to low ...

Cable Update (GBPUSD)

Hello Mate, I haven't managed to find a decent MP indicator that plots out the individual letters so single prints and ledges can be easily identified with MT4. The best system I have found is through Pro Realtime charting which I use to trade bond ...

Cable Update (GBPUSD)

Hi DT, Good luck with your target. Some impressive figures on your journal. well done.

Direct-trade £20k to £200k.

Short Trade — Short Position has been closed at 1.6315 after fairly strong reversal signals on the hourly and 4hr. Looks like GU is going to retrace now as traders bank some of their profit from the short positions initiated at the end of last ...

Cable Update (GBPUSD)

worse than expected UK Prelim GDP figure at 9.30am exp 0.2%, Act -0.4%, prev -0.6%

Cable Update (GBPUSD)

GDP Prelim — That bad GDP prelim figure might be the catalyst we need to see the cable back down into its mid to low areas of a 5 month daily range. Surely that figure only strengthens the fact the cable is trading at a overvalued price ...

Cable Update (GBPUSD)

Try and keep things simple and not worry too much about your indicators. Remember most of them are lagging and the information they provide is there on your charts anyway. Looking at the supp/res levels we are at a important level in the cable being ...

Cable Update (GBPUSD)