Well wasn't that an interesting yesterday. It looks like the bulls have found support (for now) but inside the triangle causing yet another false breakout. This has the effect of widening the triangle and thus increasing the target distances. It ...

Cable Update (GBPUSD)

Here is my daily for what it is worth...

Cable Update (GBPUSD)

I am not expecting much today as we await the average doing a bit of a catch up. The daily bar should be small and bearish as it is looking for bull support to take price to 1.35726. That is too far away for my trading unless I put a tiny trade on ...

Cable Update (GBPUSD)

Well there you go.

Cable Update (GBPUSD)

There we go....

Cable Update (GBPUSD)

Ask yourself these questions... Is the market trading above or below the average?...above Have the Bulls found support?... yes Market is therefore bullish for the time being.

Cable Update (GBPUSD)

Well that was an easy no-brainer trade today. less than 30 minutes

Cable Update (GBPUSD)

The bulls have found support and retested it however there is a bear support I missed at 1.3235

Cable Update (GBPUSD)

Well I am looking for the bulls to find support on the 1 hour, then to take out the bear support at 1.32866

Cable Update (GBPUSD)

Yes but on mine the top two bars poked across I know it is not much but if this were the start of a line then the angle over a long distance would make a heck of a difference.

Cable Update (GBPUSD)

Sorry about the delay I had to set up a 4 hour chart cos I don't use it. Here is that dead straight line you have.

Cable Update (GBPUSD)

Because it depends on the broker not the platform

Cable Update (GBPUSD)

Here we go... What do you THINK this average is trying to do? It isn't rocket science and if we are trading below the average under a bear support then which way should we be trading? Who cares where price will be next week? I want my daily bread. ...

Cable Update (GBPUSD)

Now the bears have closed across it

Cable Update (GBPUSD)

I agree with the weekly because nearly all brokers use the NY close and the Sydney open so any difference would only be about the thickness of the line. Of course the market doesn't actually close so we see gaps at the weekends because that in when ...

Cable Update (GBPUSD)

I wasn't using MT4 at the time, I changed to MT4 because that better matched other peoples charts.

Cable Update (GBPUSD)

I look at this 5 min chart and to get a good notion of price action.... There are no prices on it all all only the average.

Cable Update (GBPUSD)

If you look here at the daily on the left price has slightly passed through the lower line of the triangle so if it closes inside I will have to adjust it later. On the right we have the 5 min chart and I see the bears have actually failed at this ...

Cable Update (GBPUSD)

Ah but it does matter when constructing lines because shift one bar one unit to the left and you have a different alignment. I have seen as many as five different charts all of the same time period from various people all over the world. Data feed ...

Cable Update (GBPUSD)