Cause it IS a thread for GBPUSD??

Cable Update (GBPUSD)

Ok, understand what you're saying. I do use a set of indicators on the 1H to enter/exit trades. As I have said before, using the indicators have not been totally succcessful and I am trying to understand why my trades fail, and bases on your ...

Cable Update (GBPUSD)

Yeah, I know it takes years to learn all those things, but do want to know the reason for trade failures, so that I'll hope to avoid similar mistakes, but yeah in the mean time i'll rely on 200ma for 1H/4H to figure out where the trend is, and find ...

Cable Update (GBPUSD)

Think it was an hour 20 mins ago...

Cable Update (GBPUSD)

I see, ok thanks for the explanation, makes sense on why my trades have not been very successful and now i know why, a lot to digest and to cross check back on today's trade, but very much appreciate it.

Cable Update (GBPUSD)

Can I put it this way also? As you said about the 50% fibo, after 5567, retrace to 50% fibo, did not break 50% fibo, so bounce up to 5544 and hold as support (what time frame do you use to check if it holds as a support) and finally to retest 5567. ...

Cable Update (GBPUSD)

This weeks open of 5410?

Cable Update (GBPUSD)

Hmmm.... I think that on the 1H chart, yes it broke the support, but within that hour it has closed above the support, and likewise on the 2nd hour it broke the support... perhaps that is a key to identifying a fake breakout?

Cable Update (GBPUSD)

Ok, can I clarify is 5567 was the R3 which you closed your last long trade right? And I can see that the highest point so far of the uptrend is 5574. So meaning that in general, Cable will test the R3, retrace with a fake, retest the R3 again, and ...

Cable Update (GBPUSD)

Yup, I know that Frankfurt and London will get the ball rolling and when NY comes in it will do what ever it wants to do with the market. However, the main issue I'm facing right now is trying to understand where the market will be going so that I ...

Cable Update (GBPUSD)

How do you know this is a fake breakout? Can this be from the bounce of 50% of fib earlier?

Cable Update (GBPUSD)

Hmmm... ok think i understand, will keep trying out more... thanks a lot for the advice....

Cable Update (GBPUSD)

What about 5522? Why do you ignore that resistance line? Is it because the 5509 coincides with the 200ma on the 5m so thus it is a very strong support line? Another question, how do you know when to trade ranges and when not to?

Cable Update (GBPUSD)

This one i gotta thank both you and digger for pointing it out last night... never knew the 25ma on 1h chart, and 200ma on 5m chart to be such a strong support...

Cable Update (GBPUSD)

Hehehe... wow... nice bounce... am out with profit, now to see if can do that again...

Cable Update (GBPUSD)

Thinking of scalping some longs based on m5 and 200ema, wondering if the bearish trend we're looking at is retracements, or cause of the news...

Cable Update (GBPUSD)

Ok thanks... will take note of it....

Cable Update (GBPUSD)

Based on m5, m15 and h1

Cable Update (GBPUSD)

It has fulfilled my criterion to short based on the charts i have...

Cable Update (GBPUSD)

In short @ 5464

Cable Update (GBPUSD)