It is bouncing both ways in that daily wedge that has formed. Could go up or down, but more points to down than up. Closely watch any break from that wedge - should be good for a decent move either way. Right on.

Cable Update (GBPUSD)

When it happens, it will be fast in classic Cable fashion.

Cable Update (GBPUSD)

First short entered at 1.660 with a temporary SL at 1.667. Also have a sell stop at 1.654. If Cable goes up tomorrow, I will look to add another sell.

Cable Update (GBPUSD)

Good analysis and posters in this thread. Very helpful to hear others' views who have real coin on the line. Should be an interesting week for Cable. If it breaks South, I will be looking to add multiple positions for a longer move. If it breaks ...

Cable Update (GBPUSD)

I agree with Bones, on the monthly and the weekly, cable failed to break a strong level of resistance. Cable down. On the daily, we have price consolidating and a recent trend down. It might jump up short turn, but I expect the down trend will ...

Cable Update (GBPUSD)

Why not? Not on the daily? Maybe pennant, triangle, etc is more accurate. I call them all flags, I guess.

Cable Update (GBPUSD)

Come to think of it, I might just place a pending long and short on both sides of the flag (two accounts as I am US crap)

Cable Update (GBPUSD)

I am thinking that cable will bounce up on Monday, but stay within this narrowing daily flag. I am wary of a move up or down out of this flag pattern (either up or down should be significant), but for now, I will likely close my shorts before market ...

Cable Update (GBPUSD)

Yeah, I also took a few easy shorts on EUR on those dramatic spikes up, although those are shorter term trades for me.

Cable Update (GBPUSD)

My long term short is still holding. Was thinking about closing before NFP, but that was not in my original plan, so I am letting it go. Like others have said, there is money to made in cable whether it goes up or down right now, but it is always ...

Cable Update (GBPUSD)

Yes, this might the start of a long series of short positions for a larger move south, but it will take a while to confirm the move or to assess if it just starts to range for a while, which appears more likely. We now have two legit tops in a daily ...

Cable Update (GBPUSD)

Exactly. Agree with this.

Cable Update (GBPUSD)

My short triggered. Depending upon what happens around 652 level, I will either add to the short position or TP and go long. Of course, I could get stopped out from news, but that is not in the plan!

Cable Update (GBPUSD)

Good way to trade. I am waiting to jump in short or long, either way should be a steep move worth many pips over many positions.

Cable Update (GBPUSD)

It could go up or down. Best to be patient and wait (if you are not scalping).

Cable Update (GBPUSD)

Here is what I am looking at on the daily. image

Cable Update (GBPUSD)

Closed all my longs over the last few days for green and am still wary of a short move. Looking for confirmation of a longer move down with a breaks around 6600 (tons of room to move south). Just looking at S/R levels. I will look long again it ...

Cable Update (GBPUSD)

There is room for cable to move up based on prior SR levels. However, it looks to me like this is slow accumulation for the next move down. That is how I see it and I even hope I am wrong on this.

Cable Update (GBPUSD)

I am getting close to only shorting this pair long term now because of the dollar. And I say this with a number buys open that I am looking to get out of on a retrace

Cable Update (GBPUSD)