(1 hour chart) Not one to blow my trumpet but I have been saying 2977 all week and where did it close... 2977. Plus the EMA has made the HH preceded by the longest bar of the day. I would now expect some sort of retracement, 25% would indicate a ...

Cable Update (GBPUSD)

Yep I don't think I could trade under your US restrictions, it would drive me crazy. They do say that the during the US summer the market drops off a tad but that has never made any difference to me. I see the daily a bit different from you and ...

Cable Update (GBPUSD)

So what do we see today. Well we are back exactly in the same situation as of Monday. The bulls have again found support and are still trying to break that average high. Price can stall for a while to allow that EMA to catch up but then we still ...

Cable Update (GBPUSD)

Don't forget the French erections may flatten the market or send it into a spin.

Cable Update (GBPUSD)

I just got back home and the Bulls are on fire making better than a 50% retracement and looking like they are going for the 75% which is the resistance.

Cable Update (GBPUSD)

At 25 you deserve much more, perhaps a plastic medal and a paper giraffe

Cable Update (GBPUSD)

I would be a bit wary now of further shorts because a breakout is required... wait and see mode.

Cable Update (GBPUSD)

Again a tad different. (I just managed 30 pips down and 10 pips back up being extremely oversold on the 5 min.)

Cable Update (GBPUSD)

See I see that a tad differently using the Quartile I note we have not retraced more than 25% so I expect a continuation to the downside. Shown in chart below. Look also at the two boxes I have put X's in. The retracement failed by the amount in the ...

Cable Update (GBPUSD)

Actually the above is a prime example of 'thinking trades' and not trading what we see. A question which has puzzled me for years is who manipulates these moves, are they just sitting there waiting to pounce and who are 'they'. I hear so much stuff ...

Cable Update (GBPUSD)

Nice one Elbert... 'I think therefor it is' Well what a day that was for cable what should have been an easy push for the bulls with a long bar up to the resistance 2977 instead right after closing the gap the bears put in the long bar and took out ...

Cable Update (GBPUSD)

On a political note the French elections are making brokers nervous and it follows we should be too. Sometimes it is much more profitable to take a day off and go feed the ducks or fly a kite. If the bears close out the support before the resistance ...

Cable Update (GBPUSD)

As I said yesterday the bulls needed a support to take out the resistance. So after a 50% retracement (loading up with short silly money) the bulls took out all the short stops and did indeed find support. Now that resistance should not present a ...

Cable Update (GBPUSD)

[quote=hippiedog;9817736] you would have gotten stopped out. /quote] Sorry but that was a 56 pip gain, not loss. Mind you I would not have taken this because I don't use this for setups at all.

Cable Update (GBPUSD)

Here is a typical trade setup using the CCI and BB. You should change your CCI back to the default 14 or things don't make any sense.

Cable Update (GBPUSD)

To use the CCI effectively you need to also use the Bollinger Bands, they work in tandem.

Cable Update (GBPUSD)

I only use the 26 EMA because it represents the waterline of the RSI and MACD. This is important to be able to find where the bears or bulls find support. Later the support levels become resistance targets. With the EMA I only compare it to the past ...

Cable Update (GBPUSD)

Yesterday we saw price make a 50% retracement. Now we need to see the GBP find support above the EMA and then we should see it take out the resistance at 1.2977

Cable Update (GBPUSD)

Gee Josh I would have thought you would be dancing around the pole today.

Cable Update (GBPUSD)

Seen at the 1 hour level price appears to be lazy as it ambles along waiting for the daily catch up. We do see it continues to put in unbroken supports so again no evidence yet of shorts and is generally trading above its average.

Cable Update (GBPUSD)