Well, I've put my pending long on at first break of neck line, agreed not the proper way to play a H&S but under the circumstances..... Must remember to take it off tonight because my current brokers like to play with the spread. They have opened it ...

Cable Update (GBPUSD)

No probs, if it gets beyond yesterdays high I will add long to balance things out for a while. Thanks for the heads up.

Cable Update (GBPUSD)

Still carying two large shorts from there left over from Fed news day. I was happily long going into news but scalping the short side. Just before the news I tried to close the shorts, requote. Try again, requote. Then the news is out and no chance ...

Cable Update (GBPUSD)

Terrific. That's what I figured but just wanted your confirmation. Now if you can just produce a chart that MAKES it go down to 1.5530 area, that would be great

Cable Update (GBPUSD)

As ever, great analaysis. Completely opposite target of what I need but that does not detract from what you post. One question though, point 3 I do not understand. By the time a 78% is done the blue line appears to be long gone. Please explain.

Cable Update (GBPUSD)

Yup. Somebodys market just opening I guess, spreads widened a pip or two and I got a requote as usual!.

Cable Update (GBPUSD)

You surprise me Magix, adding to losing positions, not like you??

Cable Update (GBPUSD)

Closed! Closed your short! now what's going to make it come down? No, seriously I don't blame you. I am only persuing shorts because I got trapped on the fed news (was that only 2 days ago?). I was long expecting a rise but also equally short ...

Cable Update (GBPUSD)

Yes, saw your butterfly. Very good. Not having a go at you, just your post was a convenient one to demonstrate that none of have this thing on a string. Good Luck.

Cable Update (GBPUSD)

Well, another 35 pips in the bag. Thanks longers.

Cable Update (GBPUSD)

No prob. On the BoJ side I pretty much agree with what you say. They are employing a form of QE, or devaluation because the currency strength is hurting them. Question is will they keep it up. They have tried this before and ended up giving up. I ...

Cable Update (GBPUSD)

No..... BoE. Bank of England.

Cable Update (GBPUSD)

Following day after Fed announcement BoE give their statement. The focus is on how the voting went for a rise in interest rates but in the same statement they talked about adding 50Bn to their QE program. Question becomes who will be first, and if ...

Cable Update (GBPUSD)

Yup, got that but you did take in the bit the following day where BoE said pretty much the same thing. Now as I am looking at cable what does that mean?

Cable Update (GBPUSD)

Good luck to you to. I am sticking with my shorts, albeit I do not have much confidence in them but despite all that has been said I do not see the right conditions for pound to improve over dollar. So .......

Cable Update (GBPUSD)

Well I must admit I do let fundies lean my bias and then play the techies for entry points. I suppose that looking at this mornings action I should view it that most of the market expected the news to disappoint and buyers were in the wings waiting ...

Cable Update (GBPUSD)

The bit I never understand about the markets are like this mornings UK news. The number of mortgages approved by banks for home buyers fell in August for the third month in a row. The number of home loans to house buyers was at its lowest since ...

Cable Update (GBPUSD)

Also bare in mind that BoE mentioned the possibility of more QE, may even beet the fed to it. Seems to me that puts £ in same catagory as $

Cable Update (GBPUSD)

Damn. That's looking like a good entry. I thought to wait a bit because the bulls looked to have a little more strength about them, maybe 1.5700 again. Hope I have not missed this boat.

Cable Update (GBPUSD)

Hee Hee. Depends on your view of longer term. Seen the monthly chart lately?

Cable Update (GBPUSD)