Thanks, bb. I probably don't look at candlesticks enough. Like Fibs, I'm not convinced of the rationality of their use, except for the fact that so many use them (which of course, validates them entirely). I should educate myself, and also be a ...

Cable Update (GBPUSD)

Hmm, you may be right. I'm going to keep the position open, anyway - if it bounces off 1.6 a second time, I won't be surprised to see 960 revisited. However, knowing my luck, it'll revisit in a hello-goodbye fashion, on its way to 940, lol.

Cable Update (GBPUSD)

Mildly embarassed now, as actually the second occasion was PA failing to meet the fib level of 38.2 (twice, this afternoon), which I expected to be 1.5961, and which I think I've drawn accurately; and the prior recent occasion was 23rd Nov, when the ...

Cable Update (GBPUSD)

If your pockets are deep enough, yours is a sound strategy - each failed support level will probably only sharpen the bounce when it comes, and gives you the opportunity to strengthen your position. I, unfortunately, am having to rely on catching ...

Cable Update (GBPUSD)

Based on the 38.2 fib retrace of the downmove in the first half of Nov, I too am expecting support at 15960. Looking for bounce to 16050 (will I bank some at 16000? ). My open order just failed to pick up about an hour ago, by 1 or 2 pips. ...

Cable Update (GBPUSD)

Great-looking sound system you've got there, mate. I'll have to check out that confluence resistance.

Cable Update (GBPUSD)

Yeah, I should look at the monthly more often, but I haven't the patience

Cable Update (GBPUSD)

Wow. Now that's movement! In the short term, too, 1.60 looks like it'll give good support, being a big figure, and the 50% fib shown, so any break will need momentum. After that, 15960 will also need breaking, and after that... not much to stop it. ...

Cable Update (GBPUSD)

In the context of that, then, 25 pips in 10 minutes is quite fast... and coming just after 3 o'clock, I thought I'd missed a news item, or Bernanke had opened his mouth unwisely, or some such.

Cable Update (GBPUSD)

If I understood any of that, it would probably explain a drop, but so large, so fast..?

Cable Update (GBPUSD)

Yes, I did notice that! I guess the City was on the lookout

Cable Update (GBPUSD)

Anyone got an explanation for that 25 pip drop in the last 15 mins? I notice USD Index popped up 10 pips too, so it's $-driven, rather than £... Particularly irritating, as I'd just bet on the $ bouncing from resistance at 8040...

Cable Update (GBPUSD)

Well, a contrary response to strong US Durable Goods data - there's a surprise...

Cable Update (GBPUSD)

I completely agree. The instance I cited, when cable's giving mixed signals, is about the only one where other pairs' action might help you lean one way or the other. But strictly, you're right - all you need to know is in the Price, and its ...

Cable Update (GBPUSD)

I agree it can go a little far sometimes, but context is never a bad thing. Cable may be sending ambiguous signals, for example, and somebody pointing out that EU is near an important resistance level, let's say, can help clarify. Also I find I ...

Cable Update (GBPUSD)

Sorry - been abed. Cheers. Let's hope so!

Cable Update (GBPUSD)

Yeah, I was quick - chicken, really. Too many random movements recently - just thought I'd bank it. I think I can see a sort of H&S forming (we're just forming the right shoulder now), in which case we may go up to 1.63. Otherwise, my expectation of ...

Cable Update (GBPUSD)

And out for a quick 22-pip scalp - don't know what the price effect of the new BoE Gov appointment will be (beyond this quick slump).

Cable Update (GBPUSD)

I guess it was. Short from 16029.

Cable Update (GBPUSD)