Cable Update (GBPUSD)

Quoting PayTheLimit

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{quote} ok, I see that hammer, and yes we ran than thing under 112.50 yesterday which everyone was watching, so it could be a trap, that remains to be seen...but this week is mostly down thus far...surely there will be a spot to get short, even if its for a while.... I'm considering these two levels... A is a good looking level, mean looking for sure, but its too close, and stands out too much I think... B is more of a bastard...it kind of hangs up there by itself over yesterdays high, but its had some play of the last couple of days..which when...

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Quoting Mr Breakout

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{quote} Here is the typical trap move during the London session (the chart below describes a phony uptrend, but the same logic applies to phony downtrends of course) Study at least 1,000 intra-day charts on 28 currency pairs and you will understand what I mean. It does not always work that way of course (just to keep us constantly confused...) but that's the general idea. {image}

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Quoting Mr Breakout

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{quote} On the 1h chart (your favorite time-frame) we see the same bullish scenario for the Yen: a big fat trap candle for the short sellers, at support level (red line). If you see at least 2 candles completely above 113.37, forget about shorting and go long instead, after the pullback. Just my opinion. (Sorry about these non cable related comments folks, I apologize.) {image}

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Quoting manixramz

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Green pips for you.

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Quoting PayTheLimit

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lets have a good month damn it !

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Quoting fontu

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{quote} very intact & strong even continues down further without bo , easy 6 months top also likely .This year should be a revolt against usd , gbp is not exceptional /may limit it fall atleast , but no , it can do enough bull , no less than other currencies.Take care , fontu {image}

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Quoting PayTheLimit

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{quote} yo Fontu, any interesting Demark counts you see?

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Quoting PayTheLimit

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any interesting Demark counts you see?

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Quoting Mr Breakout

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{quote} By the way, these famous Demark counts have been backtested here, for those of you who are interested: https://www1.ethz.ch/er/publications...esis_final.pdf

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Quoting PayTheLimit

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{quote} I'll read it later....but whats the skinny?

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Quoting Mr Breakout

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{quote} Well, some of Demark trading setups have indeed shown statistically significant predictive power for either long or short entry positions, at least in the Futures markets. Of course some futures markets, like platinum for instance, do not respond well to Demark's techniques.

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Quoting PayTheLimit

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...there is a guy named SunTrader that is pretty well versed in it if I recall...

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