We are trading now on the hourly and the 4h just over the 200 day moving average. It will be interesting to see where we go from here. I currently don't have a position though. Will wait for an entry.

Cable Update (GBPUSD)

The trend has been up for some weeks now. We've been close to reversing that trend, but because of that huge up move, we are still in an up trend. Which is why I hesitate to take a short scalp right now, I'd hate to get the beat down by the trend.

Cable Update (GBPUSD)

I think a short scalp is coming up, but we aren't quite there yet. Right around 1.6445 looks good for a short scalp. Or if you don't think it'll go that high, can start small at 1.6438 and go from there.

Cable Update (GBPUSD)

In what way do the Chinese numbers help or hurt the Pound?

Cable Update (GBPUSD)

What info is that?

Cable Update (GBPUSD)

45Condor, Was that written back in the late 80's? I swear I read that just as Reagan was leaving office and I heard repeatedly about the opulence of the 80's, and of capitalism, and how the Japanese (Oh wait, did you say Chinese?) were going to be ...

Cable Update (GBPUSD)

It looks like bulls were rejected on their way up. image It will be interesting to see what happens next week. I plan to take a short scalp if we hit that line again and see where that takes me. Ultimately though, I'm still bullish overall.

Cable Update (GBPUSD)

This is sad. My long was at a loss for most of the day yesterday and I was so excited to be in profit yesterday I sold too quickly and missed out on about 100 pips. Then I shorted and made almost 40 pips as I woke up a little bit ago and sold. Damn ...

Cable Update (GBPUSD)

Have you sold your house yet and put all your money short cable? Before you do, let me just remind you of something. Correlation does not equal causation.

Cable Update (GBPUSD)

When I read this it reminded me of those late night infomercials where it looks like a news interview but its really two people who are trying to sell a product. Interviewer - Now Gary, is it true this is the absolute best product out there on the ...

Cable Update (GBPUSD)

I'm not a buyer right now. Moved up too far too fast. I'll wait for a little settling action and see where we land during the weekend. Start trading again on Monday.

Cable Update (GBPUSD)

Yeah, I have to think that this brings back the larger bullish trend. My chart shows we hit strong support from years ago as we were hitting the 16310-15 area. We failed to get down through that area and now we're 100+ pips up over that.

Cable Update (GBPUSD)

Yeah, I'd have made a helluva lot of money tonight if I'd have set my TP much higher.

Cable Update (GBPUSD)

Wow, too bad I sold so soon. Har!

Cable Update (GBPUSD)

I suppose this is good news for all those who are short and want to add to their shorts. As for me, I jumped out with a small profit. Don't care to gamble on the news.

Cable Update (GBPUSD)

This is what I was looking for.

Cable Update (GBPUSD)

I don't know if there is any correlation here but the EUR retail sales came out last week and they beat expectations by quite a lot. I think it was .2 was expected and the actual number was 1.2 or 1.4, something like that. If there is a correlation, ...

Cable Update (GBPUSD)

No matter which way you slice it, things aren't looking good for the bulls.

Cable Update (GBPUSD)

If the four hour candle closes down under 6320 I'd say we have better than even odds we push down through during the next four hour candle.

Cable Update (GBPUSD)

I almost bought when we dropped, but got cold feet.

Cable Update (GBPUSD)