Cable Update (GBPUSD)
I prefer to only play it safe and only trade with the longer term direction as spelled out by my system.
Yes I miss out on some trades, but as there mainly losers it's not a bad thing
EJ and GU turned back down here, 100SMMA trend down holding!!
13455 old number hoping it holds, 3rd touch of the trend really killed it.
Check the long term trend matey. Although, i hope the bottom is at 2:30.
Yes shitty charts again as I don't want to disturb my other pc.
Sorry back on topic, anyone want to tell me where cables going? [i rekckon uptrend then breaktough?]
http://www.forexfactory.com/showpost...stcount=151902
Forgot to mention why I am waiting for the above post to play out first before loading Shorts.
The movers know that "everyman and his dog" who went short have stops very close to the possible right shoulder. It wouldnt take much for them to just spike through and trigger the stops before falling.
My finger is on the trigger for shorts either way: a spike above todays high or a 4hr close below rising TL/neckline....
I favour the spike senario because...
3rd touches of S/R generally break below.
Here is my M1 chart, price reverse below the yellow 100smma .
No Longs until either the 1.6517 blue sma 540 is taken out or the 23smma turns up and shows Support.
See the Blue 5sma Line, thats great for picking fast turns, need to be backed up by the others to make the moves enough though.
Longer trends on the charts don't mean much to whats happening currently, better than nothing but not as good as my baby which is all done on a M1 chart
EJ shows nearly as good a short setup near the 100SMMA....
[email protected] [email protected] TP@INFINITI LoL!
(j/k)
). Why trade against the higher TF trend?
we should see 1.66 sometime soon, I guess during US session
..from 1.6550..come to 1.6350...come baby
unlikely today
