CT - Counter trend

Cable Update (GBPUSD)

Hey guys - The trend is U-P and has been for a long time. We are currently ranging and we may see a re-trace. Depends what tf you look at I spose but even on the lower tf's we are ranging - no way is the trend down Anyone who is short is CT trading.

Cable Update (GBPUSD)

Yep I was tempted and if price action had done anything but range I probably would have shorted it. But PA rules and this ranging this morning tells me that the bears don't have the strength to fight anymore.

Cable Update (GBPUSD)

Na the bulls are just having a rest before they trample the bears again in the next run U-P.

Cable Update (GBPUSD)

Yep - The trend is U-P -

Cable Update (GBPUSD)

Yeah - I'm glad I ignore the funnymentals

Cable Update (GBPUSD)

Do u all know that pending home sales comes out at 3.00. I think cable is waiting for the number.

Cable Update (GBPUSD)

Yep I agree - thats why I draw the boxes - I'm looking for a breakout either way.

Cable Update (GBPUSD)

Yep but it is the H1 chart - LOL...so I'm getting there.

Cable Update (GBPUSD)

Yep thats where my daily pivot is

Cable Update (GBPUSD)

Cables on a misssion. — Another chart. See the boxes they are at 200 pip increments. I don't think we're gonna see a retrace - I'm looking for 72 now . lol. Could be wrong tho. image

Cable Update (GBPUSD)

Works for me

Cable Update (GBPUSD)

Part of my DNA I guess but it helps me see the trees thru the wood.

Cable Update (GBPUSD)

Bit off topic but I don't know if anyone follows the loonie. If you pull up the GBPUSD and GBPCAD charts you'll see that cable has been going up but the GBPCAD has been going down. Now I think the loonie is closely correlated with the dollar so they ...

Cable Update (GBPUSD)

Ooops . Just can't help it..

Cable Update (GBPUSD)

Looking at the bigger picture the 61 fib comes in at 1.76 -hmmmm I wonder... image

Cable Update (GBPUSD)

1.7 is obviously the level to watch, if that is broken convincingly then we'll probly carry on up.

Cable Update (GBPUSD)

Never thought I'd say this but I'm not sure - we must be due a retrace soon.

Cable Update (GBPUSD)

Morning all..

Cable Update (GBPUSD)

Nope, I thought PA was either going to reverse or go flat so I closed them - I almost convinced myself to go short.

Cable Update (GBPUSD)