Wow even better. Very nice looking 4HR pinbar that closed red, but damn that 1HR looks all messed up.

Cable Update (GBPUSD)

Yeah was expecting that we at least close below the previous hours lows. Instead we retraced past 61.8% of that candle, but closed pretty weak. I'm down a pip so I'm just going to hold and let it play out. Edit: Got out with a few pips loss...

Cable Update (GBPUSD)

I think this last hour is very playable for shorts. Previous candle was green, but had a very nice long upper wick off of 1.4950 (round number) and this hour that just closed confirmed the validity of that wick. Very tight stops can be used. Another ...

Cable Update (GBPUSD)

Don't get me wrong I put much more stock into the weekly/monthly candles than a daily candle so I'm still confidently holding short, but I see no reason to shorting right now. I'd say that a 4HR close under 1.4884 is confirmation the bulls have lost ...

Cable Update (GBPUSD)

As I mentioned before, its mainly the long lower wicks that have been created with closes above 1.49. Also yesterdays candle is technically a "flying buddah" although not a very convincing/actionable one. No arguing that there have been lower lows ...

Cable Update (GBPUSD)

Sucks how different brokers use different daily opening times and different 4HR open times...makes it harder for traders like us to communicate. Doesn't make a difference though as long as we follow the monthly/weekly trend. When I bought a new ...

Cable Update (GBPUSD)

Well thanks, I based it on PipEasy's "Building an equity millipede" thread which can be found here: url . Must read for all traders in my opinion. I consider myself fortunate for stumbling over it. Everyone has got there own methods, but PipEasy's ...

Cable Update (GBPUSD)

Checking back at the close of the hour and thats what I was afraid of as I'm holding longs. Previous 1HR candle was bold red after 1HR/4HR were looking very bullish so if that bear momentum continued the next hour it was going to turn the 4HR candle ...

EURUSD

Next 35 minutes critical for determining short term direction. Price having trouble closing through last week's high. Good luck to you!

EURUSD

Price action looks good for longs. Daily is showing a small inside bar with hardly no upper/lower wick. Only thing that concerns me about U/J is the high retail long interest in the pair. url

USD/JPY Discussion

I see how you arrived at those levels, but I don't use Fibs that way...and I don't look for any support/resistance (I don't want to confuse myself). Take today for example -- price topped out at what many would label a resistance zone, but I didn't ...

Cable Update (GBPUSD)

Pretty crappy close for the daily candle. Closed red, but basically unchanged. Also got stopped out on my position from earlier @ B/E which is unfortunate, but those kind of things happen in trading and I'm just happy to have taken the trade I did ...

Cable Update (GBPUSD)

Possible we don't even get back to 1.49. This is the first red 15 min candle after 5 consecutive green 15 min candles. As I'm typing this price is just dropping rapidly. As far as possible low for today. I like the following: 1.4857 - This would ...

Cable Update (GBPUSD)

4HR candle just closed and 1.49 and the 50% Fib of that candle are a pip apart. Nice level to take shorts.

Cable Update (GBPUSD)

Yeah I understand, sometimes you just have to let it ride though. Nice trade regardless. Can't go broke taking a profit.

Cable Update (GBPUSD)

Ahhh...why?? You had a perfectly placed trade. Should price came back and takes you out at breakeven...so what? You would lose a 25 pip profit, but if we drop the whole week that position alone could be worth a whole lot more than a bunch of 25 pip ...

Cable Update (GBPUSD)

Yeah was hoping for something more explosive, but moved my stop to breakeven and not focused on it anymore. Wondering why my U/J position isn't moving...

Cable Update (GBPUSD)

Sorta running low on time left in this hourly candle. Anticipating a bold down hourly candle, still 25 mins left to go though for Cable to make its move.

Cable Update (GBPUSD)

Hourly engulf with a longer lower wick than I would have preferred, but still valid. Nearly hit 38.2% retrace of Friday's daily candle.

Cable Update (GBPUSD)

Hope you didn't. We've got a lot of hourly wicks right on top of 96. I'll pay to see an hourly close below 96 at this point. I actually took a 5 pip loss already trying to buy at 96.20 when I thought it was going to breakout, but sometimes you just ...

USD/JPY Discussion