I wait for evidence before taking a trade not take the trade then look for evidence. There is nothing here to suggest long or short as we await the average catching up to the price. It is only then that the long or short signal will be given in the ...

Cable Update (GBPUSD)

Good on ya mate and go the Crows

Cable Update (GBPUSD)

Yep mine is 327 on the 1 hour but three pips diff on the 4 hour at 324

Cable Update (GBPUSD)

Just guessing here but it looks like it may make a double top on the 4 hour to max the pulling power on the average.

Cable Update (GBPUSD)

Once it does break that top one it is a heck of a journey to the next one requiring quite a bit of volatility to get up there. Probably do it in easy stages though.

Cable Update (GBPUSD)

It shouldn't break the next one until it finds a new support so we would expect it to level off for a tad allowing the average to catch up.

Cable Update (GBPUSD)

By the time I got back it had done it...

Cable Update (GBPUSD)

I was drawing this up but had to nip out to the shops....

Cable Update (GBPUSD)

Why not just move your stop to 1.302 and let the trade run...

Cable Update (GBPUSD)

So we see a couple of hours later the Bears were unable to stop the Bulls breaking the average high. This makes it now a stalemate situation leading into the London open in a a couple more hours. Generally once the average is broken price returns to ...

Cable Update (GBPUSD)

The Bulls have consolidated below the Bear Support (Resistance) of 1.3047...This is a sign of bullish weakness. A break now below the mid point (Red box) would see an attempt to stop the average making a high (yellow dashed line)

Cable Update (GBPUSD)

Rather an optimistic prediction since the bears have been trading below the average for three years now and no sign of them letting up as yet.

Cable Update (GBPUSD)

I'm laughing at all this excitement...the darn thing has hardly moved

Cable Update (GBPUSD)

100 pips below the 10 50 pips below the 20 They are converging

Cable Update (GBPUSD)

Draw your own conclusions... Trade what you see, not what you think.

Cable Update (GBPUSD)

That's OK then...no worries

Cable Update (GBPUSD)

What was this all about.

Cable Update (GBPUSD)

It is going to break the lower average shortly then it may take a break for a while

Cable Update (GBPUSD)

All eyes are on it breaking this level

Cable Update (GBPUSD)

I am thinking you may be close with this digger if you hang in there long enough. A 50% retrace is 1.267

Cable Update (GBPUSD)