Looks like the little fake move above the 61.8 fib at 1.9480 is being rejected now. Looks like a good sell right now.

Daily Cable Analysis

In the currency markets the vast majority of liquidity isn't created by speculators but by businesses and individuals who actually need to exchange currency for commercial reasons. So there is no reason why every speculator and certainly every ...

Computers to replace Traders

The only thing that worries me about how far the downtrend has to go is that EUR/USD is already below the 50 fib of the long term move up from 1.25 and only has 70 pips to go before it reaches the 61.8 level. This has happened without a significant ...

Daily Cable Analysis

The problem with that analysis is that it doesn't often happen that price goes straight through the 50 fib, back down, then up again to 61.8. Usually price would go more or less straight through to 61.8 when it breaks 50. So I think 50 is it for now ...

Daily Cable Analysis

Beware of using market depth to indicate future moves. It works to an extent on stock index futures but tends not to work on currency futures. Also it doesn't often work in the way you think it does. For example, if you have a large number of offers ...

Daily Cable Analysis

Probably unanimous. Inflation is at 2.7% and their target is 2%. If it goes above 3% the governor has to write a humiliating letter to the chancellor explaining why inflation is getting too high and what they are doing about it. They would have all ...

WTF! Surprise UK Rate Hike!

If an unexpected rate hike can't push it higher then nothing can. It's heading towards the 50 fib of the recent upmove at 1.9185.

Daily Cable Analysis

The Euro has continued down and as there won't be another rate hike in a while cable should head down again soon.

Daily Cable Analysis

I heard reports there was a 30% chance of a hike. The last time the BofE made a "surprise" decision there were also talks of a 30% chance of a hike so it's not that unexpected. Remember, the BofE governor gets his bottom spanked by the government if ...

WTF! Surprise UK Rate Hike!

One screen for charts and news feed and one screen for trading platform is ideal. I agree stuff like Bloomberg TV is a complete distraction and clouds your thought process.

Dual monitors?

Cable has had its little dead cat bounce for the week and should go down strongly as long as the BofE doesn't raise rates.

Daily Cable Analysis

Personally I can't seen how anyone could trade without a dual monitor set-up. Definitely improves your trading, especially if your day trading.

Dual monitors?

dberuble is that MIRC running in the background? When you're trading?! :

Dual monitors?

That's a new one on me. What does it represent and how are you supposed to use it?

Cable Update (GBPUSD)

That blue thing looks very pretty. What's it supposed to represent?

Cable Update (GBPUSD)

Japanese markets are closed today so expect the markets to be dead until Europe wakes up.

Cable Update (GBPUSD)

Definitely not. Such total and dramatic reversals don't usually happen. Expect some range trading before we reach a bottom and start moving up after a few weeks (assuming the dollar hasn't already reached a long term bottom).

Cable Update (GBPUSD)

I've only just read this thread and I'm wondering how I could test "more vertical looking RSI" in esignal or tradestation. The logic would be something like "if RSI on one of the last 5 bars was greater than 60 and at the close of the last bar RSI ...

MA Cross/RSI Short Term Trading System

...but given the speed of the move down we might go straight through to longer term Fib support. The 1.9185 level looks particularly interesting being the breakout level and the 50 Fib level.

Cable Update (GBPUSD)

The overall trend is still up and we're approaching some Fib levels which should provide buying opportunities. The first is the 61.8 of the rally from 1.8837 to 1.9850. 1.9224 might be a good buying opportunity.

Cable Update (GBPUSD)