Cable Update (GBPUSD)

how bout now?

That's what you tried last night and I went short; I won....

Brilliant.

yeeeeeee

now I hope they get that octopus to pick out one last winner between holland v spain before ze germans send him to the chopping board.

Posting for Posterity.

that was another pattern, still happy I took the bed (with 0-result)
So you are short right now?

No I am not, not trading in the summer after NY closes. Will check once SY opens to see if there is anything. That said, the M15 and M30 do favour longs now. H1/H4 oppose each other though.

lol

right I'm outta here. zzz time. cloggs later mate!

See you in the morning.

I haven't heard from Capt. Palm Oil for a few hours.... I wonder if he is still winning?

Long time no see mates! Hope your trading is well.

I have a short from above working, but not sure how far to let it run down. This coincides with the top of a ?bullish pennant/flag? However, I am not convinced that we will see the bottom of that channel.. maybe we will! Not going to exit my short quite yet.



The H1 bar has seen us bouncing off the BB 100 and 200 center lines. Incidentally, the 200 BB center line is also the lower channel on the H4 chart, though I respectfully have not seen a very powerful push off the top today as yesterday where great pips were made going up and down.



Also, besided the H4 flag/pennant, the H4 lower level of the rising channel has not been hit yet due to this sideways movement. So this level is another possibility.



Daily chart has given us a triple bottom with upward momentum with three consecutive higher closes on the 3 respective bars.



All these things are telling me that momentum is slightly overloaded to the up side with chance we will first see a pull back to the lower 4H channel at most.



5M chart has already seen us pull back to the 55SMA which is a common continuation point in most cases, however, we are currently in consolidation and not trending, and so this rule is not necessarily a sure thing at the moment, and will have to watch candles, before continuation with no further serious push lower is a good trade.



1M chart is pushing lower..., and based on some of the other TF's, I do not see a whole lot of muscle to push this thing higher in a large move at the moment, though the 30M did give us a reversal candle, it is after a move lower backed up with divergence on the 5M, 15M, and 30M TF's. We are also very possibly about to be looking at the next push lower on the 1M chart based on pattern waves.





Okay.. that is all I got! Anyone got anything else?

Happy trading

P.S. and here is the next move short on the 1M.. how low it goes determines the next step.

Also want to add that my experience with the 1M chart on patterns that go straight horizontal, like what we are experiencing now on the 1H and 4H charts, is that the push will be to the upside, so until I think otherwise, I am cautious on my shorts and balls to the walls on my longs!

What is that FRCA indicator you have at bottom of your 1 min chart?

FRCA is an indicator I designed.

Looks more like a backpacker going south.

Short 1.5190 with SL at 1.5210.

I agree .. but I collected some short pips earlier, not doing anything more until I see what London brings....

GL

looks like the flag might come into play. current hourly close will confirm it if it closes this way or higher.

Good luck.

Sold 5223 for 25-30pips. SL 5250. Happy trading all.

Closed my long from 151 at 152.20. The pair might gives a good long entry in London session today. Around 151.70...