Looks to me like the weekly is making a fast start to make the 35707-swing high level this week. image

Trading the Cable swings via averages

Armed with the notion of strength and weakness let's do a bit of analysis my style... Below is the 1-hour chart with a circle on it being my start time 0900 according to the chart time at the bottom. The grid on the chart is 40 pips so I can see ...

Trading the Cable swings via averages

When we observe the EMA snaking along and we see it fails to make a HH than the previous average this is weakness. This is when we see a test of the opposite side to make a LL with strength. Thus, we have witnessed weakness being overcome by ...

Trading the Cable swings via averages

Whoops I forgot to post this, it was sitting in notepad awaiting copy and paste. Thanks for the reminder. Here we go with the should do. 1) The absolute number one is patience. So, are you virtuous? Most people are not and tend to enter trades ...

Trading the Cable swings via averages

Does anyone know why so many contracts are being written? The Tic has been going wild for more than six hours now and the spread is huge.

Cable Update (GBPUSD)

In most cases they are blatantly obvious, price simply streaks away but there is no underlying strength in the move shown on the RSI. So, when this happens, we take a punt and our pending order is taken up. Our stop is moved to the top of the ...

Trading the Cable swings via averages

Sometimes I wonder if it is the BOE using its stocks of US currency to buy the pound. Then selling the pound back to dollars for a nice profit. I have no idea how all this works I just go with the flow.

Cable Update (GBPUSD)

No No No that is not how I trade it. Place a pending order below and move it into a closer position when you spot it happening. Price pulls back to get you into the trade, you put the stop just above the HD. It is then left to run to the target ...

Trading the Cable swings via averages

This is a very complex business. Your simple description does not take into account the actions other countries central banks will take to keep their currencies low. You mention China but many other countries also take protective actions. Also, we ...

Cable Update (GBPUSD)

Gee whiz I was done and dusted a lot earlier... image That was my yesterday's trade. I haven't traded today.

Trading the Cable swings via averages

Why?

Cable Update (GBPUSD)

Let's have a bit of a review here because I know the message associated with trading is a complicated business to absorb into our grey matter. The do nots. 1) I have no faith at all in news, current events or trading theories. These things will play ...

Trading the Cable swings via averages

However, it is consolidating here

Trading the Cable swings via averages

There is no such thing.

Cable Update (GBPUSD)

Well, I was dead wrong about it consolidating here.

Trading the Cable swings via averages

I don't take much notice of the Trump tariffs. The people who buy the luxury UK cars don't even ask the price and the UK is hardly going to move it's plants to the US just to save a few bob. In the scheme of things, the US is not such a huge market ...

Trading the Cable swings via averages