Cable Update (GBPUSD)

Short...look fo price action below...

I treat it as a scalp since bias is bullish i closed halve of my short let the other run to breack even...next target pivot...

As usual, excellent analysis by Jim (Hard1Head1) and good stuff by Jets too.

I concur with both and am short at 1.9849.

With 4hr stochs oversold and price having convincingly broken the 60ema on the 30 min chart, my confidence of a good trade has increased and my trade accumulates +61 pips at the time of writing.

Safe trading to all today!

Rob

Thanks bud...well I am tired and had my 50 pips....good night guys....

Is it a flag or just a down channel

0752 GMT [Dow Jones] GBP/USD interweek outlook remains negative, says RBS, with a downside resolution of the current 1.9950-1.9690 range targeting 1.96 ahead of the 1.9425-1.9340 area. For a strategy the bank favors selling at 1.9845 with a stop at 1.9905 for a target of 1.9615. GBP/USD now at 1.9805. (GST)

Does anybody know what is up with the time warps on MT4?

My live MT4 Alpari a/c seems fine but my demo MT4 ODL account is up the spout

I entered short earlier and took something off the table at +55 pips.

There are a couple of trend lines on the chart below. Note that there is only an 85 pip range between TL1 and TL2. I believe that we need to see a break-out of this channel either way (TL1 or TL2) if Monday is to achieve anywhere near an average daily range.

Price is hovering around a bunch of daily, weekly and monthly fib levels right now, although a 30 min bar has broken and closed below the 60 ema (and retested it on the other side).

Note the overbought 4hr stochastics earlier.

I smell the bears enough to leave my remaining position on the table with a stop loss at my entry price of 1.9849.

- Reassuring words from TMAC's earlier post too.

Rob

Who of the reliable brokers has 1 pip spread for cable?

Hey guys, it seems Cable set up for a quite Monday trading day range bound ahead of FOMC tomorrow....

i think i should go long when confirmation is ready at TF15M

heres my small time frame view.In consolidation area on 30 min and bounced with nice pin on 5 min

in green pips rite now,
SL at +2pips

oh no it hit my TP at 50pips,
damm, i'm just wanna change my TP, but it very fast then me,
so don't know maybe wait for US open

GBP/USD break 4H down trend line.
Could go to 1,99

Cable seems undecided today.

little short there (double top from previous week)

Looks like its decided

I knew it was gonna either break the daily pivot and test to go short or bounce off the DPP and go long. It did the latter and is headed to the 4 hr DTL, ( White Line on 2 nd chart), approx 9920

Jim