Mmmmmm.... Just love the smell of BBQ bull, or is that cow just around lunchtime. Best to fatten them up first though.

Cable Update (GBPUSD)

I didn't think bee's liked storms?

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The traders nightmare, a market that hardly moves.

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Just added 1/4 lot long 'cos it broke the mornings trendline and dow futures have just gone positive. Edit. and that already looks like a mistake!

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Yes I refer to your 1 hour chart H&S. However I would draw that neckline differently. I would join the points that form the head thereby giving an upsloping neckline. This may not be correct as I rarely play an inverse H&S, but that's the way I draw ...

Cable Update (GBPUSD)

No, I didn't short for this move! The bl**dy brokers, same ones as yours, would not let me close on the fed news night. About 18 requotes and invalid prices until my scalping shorts were all in a loss. Had longs as well so no big loss but I was ...

Cable Update (GBPUSD)

That neckline mildly broken again and a trend line across todays highs says no more longs yet. Currently 1 lot short and a half long.

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That conjured up a picture in my mind of a group of bulls hiding behind some trees waiting to mug a bear. Are we sure they are not just cows?

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If the Pipchick inverse H&S plays out that would indicate about 200 pips up from here, approx 1.60. I will add longs if it breaks that upper trendline at 1.5875 missing about half of the move if it happens.

Cable Update (GBPUSD)

Right here Nav is the re-touch of the neckline of the inverse H&S posted by Pipchick a couple of days back. Only problem is it broke through that line yesterday and I am unsure as to wether that invalidated it or not.

Cable Update (GBPUSD)

My half lot long also not looking so good. No worries though, the 1 lot short is helping. Like I said, it is not a strategy for everybody and I would rather not be holding a short from so far down, but thats the way the market broke.

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Guess so. I don't take any notice of H&S until they do the right thing, that is for the H&S break in the right direction and come back to kiss the neckline. That is the only time I will play them.

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Yup, I see price bouncing off the trendline I mentioned

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Understand your position completely. I have no idea where it goes next and the bulls have been strong. Will they continue?. I am still stuck with 1 lot short at 1.5550 and playing the triangle where the top is currently 1.5875 ish and the bottom ...

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Hmmmm. I beg to differ. Navin you missed an excellent short from 1.5870 where it again just about touched the top trendline. Good for another 60 pips in the bag.

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Please don't re-post his posts. Why do you think half of us have him on ignore?

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No Idea. My guess, and it is a guess that nothing surprising will be said. Fed comments usually come from fed meetings or the boss and given a mid term election soon I do not think anyone will be allowed to rock the boat. But as I say, just my guess. ...

Cable Update (GBPUSD)

could no longer resist. Short .5805, s/l .5820. edit: now carrying a 3 pip trailing stop locking in 5 pips. edit2: triggered so that's all it locked in.

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yup, agreed. There is also a DOW showing a positive figure so until that breaks no more positions.

Cable Update (GBPUSD)