Cable Update (GBPUSD)

Hey Low! What's happening? Why 1.6020?

Anyway. Price beat around 1.6102 for a while around 1st April and this looks like a break and retest to me, going down instead of up. But there is no trade here for me today.

16. Unexpected possibilities the most valuable. With
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16. Unexpected possibilities the most valuable. Too convenient transactions are suspicious.

17. To observe market chastity


18. To be modest



19. To operate with prizes which are psychologically easy for closing or developing.

20. To provide possibility of an adverse course of the price


21. To be ready physically and psychologically to open in opposite the parties a double prize

22. To open a platform in the left bottom corner on news


23. The price has memory. Probably the price will repeat.


24. Stand separately from crowd. Your success depends on misfortune of others. Your work - to take away their money before they will take away them from you. 25. Profit and дискамфорт stand nearby. Trade on inconvenient for you setups

I dont think there gonna be a big move for today but i still remain short.. Newbie here prof(s) correct me if am wrong

shorting 62 to head down to 60. I'm trying to break away from these retracement trades but I am very confident we have movement down to at least 60 to come.

nope, shorting 6168

I'm with you, Phil

Nice little bounce this morning!

G/M

Overall bearish tone presists but cable gets a bounce from the previous 1hr swing lo zone established in overnight session - current daily lo/ Daily S1 / weekly ascending trend line (joining May 2010 and Dec 2010 Lows) - this follows the run down from 6303 that began on late Friday.

Fibs drawn from thaty 6746 swing hi as well as 6573, 6517 and that 6303 swing hi to the current daily lo @ 6057.

Nice 1hr PB candle just closed.

Event Risk: Some upcoming Uk data @ 0930am London.

G/L

Yep, very active Asian session. I have no idea where I got 6168 from. I mean 6150

i already hedge it when it downs 20 pips . i open my hedge @ 16114 . today its a decision day i think . lets hope my setup come true. despite the news from index not so good

The weekly ascending trend line menioned in post above is shown below.

G/L

Ok - closed out for a couple.

Will now wait. Gotta leave so see you a bit later.

all the best

I enter a long, looking for 1.6150 !

It can go beyond 6150, so after reaching the level, i would trail it and change the limit to 6175

A H above last LH on 1hr now, this follows a HL....are bulls gathering ? We have seen it all before of course and a 1hr recovery attempt turns to a 4hr bear flag Lol... Regular bullish divergence 15m-1hr at the lows ...Time will tell

G/L

A break above 50% of last major swing down 6303-6057 which is @ 6181 would perhaps revlieve some of the underlying bearish tone ? This would leave us above the Daily Pivot but still below Weekly Pivot and still below Monthly and it's S1.

Conversely below current 6057 low is 50% 5343-6746 @ 6043, 6020 being similar 50% 5290-6746 and 6009 area Weekly S2, 5999 Daily S2 area.

G/L

Price recovery reaches that previous 1hr swing lo/hi zone, 38.2% 6303-6057 and Daily Pivot area...Uk data to come....How strong are the bulls ? what effect will data have if any ?

G/L

If price tests it again - will there be some sellers at the 4hr descending t/line ?

G/L

Might be and already hit my TP just a moment. Happy trading bro, I am a enough for a while, will be back at US session !

Another messy morning so far. How people trade this pair is beyond me. London bankers who control a high proportion of Forex trading: "Oh here's a few billion someone wants changing from USD to Danish Krone. Let's drop it on Cable for 15 minutes, take profit and then pay the clients? Less our commission, of course."

I see Invisible 10+v is here again. Hey! Don't be shy.