Current — Here is my current 1 hour chart and we have some pretty strong trend lines and fibo levels that need to be broken one way or the other before I would enter any position. Almost ever time frame looks the same at this time. I am ...

Cable Update (GBPUSD)

Question — What was your reasoning for taking a long at this time when there is no price action in either direction? I don't mean this in a bad way, just wondering if you are seeing something that I am not. Thanks, PT

Cable Update (GBPUSD)

done — Happy Thanksgiving and thanks for all the help and great posts this week. Good luck everyone. PT

Cable Update (GBPUSD)

Thanks — I have used a linear regression channel in the past but developed some set rules for pulling it, but I understand what you mean. Thanks

Cable Update (GBPUSD)

Channel — Could you tell me what your rules are for pulling your channel?

Cable Update (GBPUSD)

Current — Currently setting on or around support from high of Nov 19 and it looks to be holding for now. I was hoping for something to help make a decision and I have not seen it yet. Good time to sit on your hands, I think. PT

Cable Update (GBPUSD)

Good Call — I think that could be a very good call. It will be very interesting to see if bad news hurts the dollar or helps this time. Providing the news is bad. But I agree the 61.8 would be a great area to turn if it is going to do so.

Cable Update (GBPUSD)

Closed — I closed that position at 1.5265.

Cable Update (GBPUSD)

Short — I took a quick short here at 1.5289 as you can see on my chart, but it will be a scalp for now because of news. Sorry I did not call it first but I am sure many of you were already short and I did not have time.

Cable Update (GBPUSD)

?? — I think you nailed it. The markets are down a little everywhere and the Dow Futures are already down 50 points. The way the Forex markets have been following the Stock markets may be what we are seeing at this time. Just a thought.

Cable Update (GBPUSD)

Try this — There are two places to change colors. Try changing on fibo levels and not common.

Cable Update (GBPUSD)

Yeah — I agree with you but everyone should understand they are responsible for their own trading. I would be happy to watch you call a trade and I may join you or not.

Cable Update (GBPUSD)

Wow — Take shorter trades, that is too big of a stop loss in my mind. If we break support go short and have a good idea of profit taking based on Fib levels or even an ma and the same if we break resistance. It seems to me you are attempting ...

Cable Update (GBPUSD)

Balls are great but knowledge is better. I know a lot of guys with balls and an empty account and I bet you do too. I think if you see how some of these guys in this thread are positioning themselves you will learn a lot. I do this full time and I ...

Cable Update (GBPUSD)

Looking good — Those targets are certainly looking possible at this point. You hit the first and very close on the second. I would think if we get past the low of today you will more than hit your third. Good post.

Cable Update (GBPUSD)

Hello — Hello and welcome, I have not been in this thread long but I have found some great traders here. I would advise you to learn Fibonacci and most of all money management if you want to succeed in Forex. I trade full time and manage a ...

Cable Update (GBPUSD)

Good Play — Good play! Did you take your short from the 61.8 bounce? I think you are right, it makes sense to wait till the price action picks up and gives us some more information.

Cable Update (GBPUSD)

15 — Here is the 15 min chart with a little extra junk on it but looks pretty much the same as 1hr I posted. Notice I still have yesterdays fibs in black. That move is still dominant in the long term and the 38.2 is strong support. I would ...

Cable Update (GBPUSD)

Raw Fibs — We are following the Fibs from the high of yesterday to the low of today at the current time. You can see we had a perfect 61.8 bounce and are now hung up on the 23.6. I think all the news at 8:30 may be holding up progress at this ...

Cable Update (GBPUSD)

Yes — We are going to see something. I did go long when we broke back through the 38.2 fib at 15064. Yes we should run up and I see the first big resistance at around 5300 or close. Hats off to those who took this bounce at the bottom. Very ...

Cable Update (GBPUSD)