Cable Update (GBPUSD)

Totally agree on short term opportunities however once I started on longer TF my profits and winning ratio went sky high.This month alone up 35% of my account mostly trading NZ .One can make money hourly daily charts but real money is on weekly and monthly specially pairs which pay you to go long like Aussie and Kiwi.
To further add I am rather surprised how little Kiwi and Aussie get attention here.Kiwi went 86 last week and perfect opportunity for shorts and I went 7 orders shorts and Aussie was 22 last week perfect for longs.
Just saying Outside Euro,Cable trading can be even more profitable without nasty spikes and manipulations common on these pairs.

Agree 100% Davit. For larger accounts it's the way to go. I have to trade smaller TF's right now but that doesn't mean I don't look for the spots to enter and hold longer. One day I'll have an account where 15% to 30% a month will make a nice living and grow the account as well.

I think the pair was prepared to nicely gap the psych 1.550 and turn it to support Monday (but I'm newbie so ...) I'm short BTW ... too low maybe 1.544, and another short is waiting @ 1.55, and I hope those thinking it will test 1.55X (X<5) and then go down are wright

Stay green (the color is blue for my platform )

Higher TF > Short signal on EURGBP > Daily timeframe > Price close below 100 MA > Short now and hold for long term trade and lots of pips!

Yep, I was looking at the area of confluence last night before bed.
Historically is a reaction area on monthly before the pre crash run up also.

HAHAH

wooohooo the volumes last 5 minutes ... and PA going nuts up and down ... small fishes that won't keep open positions over weekend closing their trades.

inside bar on 4 hr chart indicated a strong reversal ahead.

Yes, longs are closing there position because of a potential bearish gap on sunday open

Next week if resistance in place. I expect price to drop to 1.5427/44. Then move up again to have a right shoulder or lower high at 1.5470/80 to test that 1.5481-1.5498 is indeed the top upper range for support turn resistance again before the retracement to 1.5418/1.5338.

This is just a future wave analysis . I can be wrong. Because it's just a pattern how price moves commonly. It will be invalid as as soon as 1.5500 is breached.

I been waiting for the left shoulder today. Currently is 1.5480 until further higher hi is created. Shorts are meant for retracement to test resistance turned support on 1.53** or 38.2 again at 1.5400/18 before move to 50 / 61.8 of daily.

Why so, is my experience of fake out that price failed to created a strong base and reluctant to move up just like how the earlier spikes to 1.5196 this week and then moved back up very quickly and maintain at those levels of 1.5210/17/14 with the lowest lo @ 1.5196 that area coincided with TL and FIBO 23.6 as support . Especially at whole number. If 1.5500 offer exists it will unlikely to be reached. Price have limited power at upper thus go down on pull back to get more buyers first or for those under-water shorts to release their shorts under to change to buyer.

Long and short can be in play, just that at this level long are not really convincing, 5 pips buy stops above current high can still catch the possible up moves to further targets but its rather cautious and better to load the longs on areas of resistance turns support instead. It's not necessary that price musts immediately move in 1 line to touch 50 or 61.8 though in a bear run is very likely, or even more as i expect some sort of waves like how 1.5480 earlier in Asia move to 1.5418 before coming to what we have today @ 1.5498. So far, my reading is that both offers are still there [ there are still some or there ], 1.5480 and 1.5500 thus the poor break out upwards. And generally have a foresee shorts targets of a 100/150 pips retracement likely next week, this is not picking top or reversal, but possible retracement shorts pull back value.

These are the numbers for my new shorts as long 1.5501 is not breached.

MY tp is based on price reactions on level and trailing stops.

Gbpaud found some good area for carry swing short . Still waiting confirmation before loading.

Happy weekend all.

I have posted my CABLE TA for the coming week for those who are interested here:

http://www.forexfactory.com/showthre...25#post6641525

waiting for discount.....gonna be happy for that......

dreaming

actually very pleased with this post ,the power of monthly hammer ,
also the fact this is in range when so many felt the gbp is doomed ,
try tell cable thread ,cable rather cheeky never touched tl on d1 ,but you could see gbp building on so many pairs

in range gbp is tight up agsint strong res
can turn on a penny

i like it for higher as well..but like u say bro, can turn in an instant

Hey Nav !!! ,I dont think higher this month at all ,but we will see

look where we are ,gonna be amazed if we take

hrmm..i guess we gonna wait and have to see
good to see u around bro

ok daily looks bullish ,early move next week very important bulls want to take and close over 50% min ,

http://www.dukascopy.com/fxcomm/tech...id=122#article