I think the Unemployment Claims for the US will have an effect on price direction, therefore watch that.

Cable Update (GBPUSD)

The ascending bottom trendline which was acting as support is now acting as a resistance. Watch for resistance at this level and price reversals. Take a look at the chart below. There is a confluence between the Fibonacci 50% and the Daily Pivot ...

Cable Update (GBPUSD)

It is a head and shoulders, but not a perfect textbook one.

Cable Update (GBPUSD)

You need to read up on what a perfect head and shoulders should be.

Cable Update (GBPUSD)

This could work out.

Cable Update (GBPUSD)

lol, that's a funny one.

Trade what you see NOT what you expect

I think this song says it the best. 'Liverpool F.C., we're by far the greatest team the world has ever seen!'

Trade what you see NOT what you expect

Definitely, the 70's/80's team were invincible. But Baz, you speak as though it's all over! There are still some games left. We just need to hope Arsenal give them a good thrashing and a few injuries :o !

Trade what you see NOT what you expect

But according to that P&L sheet, you came out with a profit, so you're obviously doing something right!

nAVINs trading trading journey

Straight up, I want the English team to win. I don't particularly like Chelsea, but I still want them to win. I'm a Liverpool supporter... :o I think Benitez is thinking abour Fergi at the moment. His face says it all.

Trade what you see NOT what you expect

Rafa's opinion on the subject.

Trade what you see NOT what you expect

I agree with you. I think we will see another support at 1.45 again though. I do think price will consolidate and tighten, then a breakout. Obviously depending on the forthcoming fundermentals.

The WoRmHoLe

Potential for a descending triangle to be formed on 4 hour, direction isn't crystal clear: price action may become tighter. Just a thought, a potential scenario.

The WoRmHoLe

There are several trend lines and support/resistance levels which price seems to be respecting. Attached is one, on the 4hour.

The WoRmHoLe

I'm not sure, I'm inclined to say no.

Cable Update (GBPUSD)

I think price may well stay in this channel down to 1.40.

Cable Update (GBPUSD)

What are all those dotted lines on your graph?

Cable Update (GBPUSD)

I don't usually look at 5 min charts, but as you posted one, I will too. That is an asymetrical triangle on the 5min.

Cable Update (GBPUSD)

You lucky guy! It's always best to have a little break, then come back to trading: one feels a lot sharper and more focused. I see this cable ranging for a while yet, in the already formed range. It's difficult at this point to trade on a long term ...

Trade what you see NOT what you expect

I would have to say the same really. There is a real pull and shove going on, which is causing it to range. 15min candle shows an up 30 min candle shows up 1hour potentially up/sideways 4hour Down 1 Day down/sideways. From my analysis anyway.

Cable Update (GBPUSD)