Trade what you see - Not what you think :money:
Dislikedi am not a full time trader - i take 3-4 trades a week at the most and my success rate is close to 80%
I use simple tech analysis with fundamentals thrown in - use simple indicators - one propreitary written on dealbooks and a couple more like RSI and Bollinger Bands. I like to catch trends like almost all of us here so i thought i should share this about the cable
Using a 10 exponential period (which is something i use always) the trend is as below:
Monthly - LONG
Weekly - LONG
Daily - LONG
4 hours - LONG
1 hour - SHORT
Bollinger bands and RSI are all pointing long as well. My 2 cents.
Dislikedit just auto draws the daily pivot pointsIgnored
Dislikedgreat Pivot tool if anyone needs one. I'm always amazed how well it works. I base most of my trades with themIgnored
DislikedThis week really has been a bore with the market, and I really can't stand much more.
I hope all of you are sitting tight, because that is about all a person can do right now.
I had a thought of completely dropping everything the remainder of the week, and taking a long break to let things just go its way from here.
GBP has found itself in a crossroads in my opinion, and since most Fibo's I have marked have completed, there is only one direction it could go.
And until then, I am contemplating standing back and observing only, and possibly taking a few real quick trades for small margins only.
I would ask that you could please keep the thread in order while I am gone.
DislikedOn the 1h chart i see a forming H&S.
What do u think.Ignored