I assume you meant 3470. What is your entry level? At the moment, don't fret yet, but you should be worried if price goes to 3450. Make sure to take profits quickly on this one, you are trading against the trend. Good luck

Cable Update (GBPUSD)

on mt4, pick two or more highs on your chart and draw a trendline, the more price tests and respects that trendline the stronger it gets. Double click that trendline. Three points will appear on your trendline.(as in pic below) Press and hold ctrl ...

Cable Update (GBPUSD)

Interesting view, I have a book on the subject on my shelf but never got around to reading it, maybe i'll try it sometime. I agree, some move south before any more north move. Although as it sometimes happens, if there is a north move, it'll be ...

Cable Update (GBPUSD)

sorry, this is what I meant, possible shorting area

Cable Update (GBPUSD)

seems plausible

Cable Update (GBPUSD)

i agree, though i really have no clue about market profile, but that price level will be significant

Cable Update (GBPUSD)

great analysis m8, as always, thanks

Cable Update (GBPUSD)

I think so, but still too early to enter short at the moment. Price seems to be quite comfortable where it is at the moment. Id wait for price to break daily pivot before shorting. Secondly, this news release is a good event to trade because its not ...

Cable Update (GBPUSD)

Its a very interesting area for the cable to be trading in that's for sure. My Daily Chart confirms bullish bias, I am a firm bull upto 4100. But a retest of support is imminent before any move. I dont know if what ive posted is what you are ...

Cable Update (GBPUSD)

Cant remember that one, what was it about?

Cable Update (GBPUSD)

One more thing, should the daily candle close above 3426, my conviction goes from strong bull to firm bull, I'd bet on price breaking out of its range upwards.

Cable Update (GBPUSD)

Interesting, nice view there, I might do some shorts tomorrow

Cable Update (GBPUSD)

get ready for some sort of move then, either break of box or move back to lower level?

Cable Update (GBPUSD)

And I'm relatively worried about this divergence

Cable Update (GBPUSD)

Northwards I agree. This is how i see it. A break of 3484 opens doors for 4100. But I think as Dr.Phoenix says, we are overbought, expect a retest of former resistance to create support at 3350

Cable Update (GBPUSD)

A number below 55 would push GBPUSD north and viceversa. 59 is quite strong creating a strong dollar thus GBPUSD would have gone towards my SL. But as it is, the data is 51, below the expected 55, so bad for USD hence a move towards my TP

Cable Update (GBPUSD)

with 3350 taken out, ill be adding positions long on retracements. I really think 1.38 is feasible this month or so

Cable Update (GBPUSD)

In any case only a reading above 59 would trouble my position

Cable Update (GBPUSD)

I don't trade news, I trade my set ups. I think the whole news thing plays into the nature of the market. I know people who trade news and are successful, I tried it and failed. I'm better off doing what I know best; Charting.

Cable Update (GBPUSD)

3291 was resistance. It has just proven itself support now. Entry long at Market. SL at 3292, TP at 1.35. Possible re entry at Daily Pivot Point 3321. I do this in full awareness of the resitance in the area. However, I am also conscious that if ...

Cable Update (GBPUSD)