Took profit on my short from daily pivot, +40 pips. Let's see what tomorrow holds, reckon we will see big volume.

Cable Update (GBPUSD)

Looking for drop to monthly pivot at 12485. Dollar index just created Inverse H&S.

Cable Update (GBPUSD)

Falling wedge then continuation maybe?

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Strange my broker showed a gap up also.

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I've got a similar view, some sort of retrace then up to higher highs.

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Daily 200 Ma is around there, previous high is around there, Weekly R2 also, although that will change next week. Monthly R1 just above it.

Cable Update (GBPUSD)

Could be a repeat of 9th/10th of June. Bearish pin bar then inverted hammer then drop.

Cable Update (GBPUSD)

Hello I'm just wondering what you consider confirmation? I'm new here and I think thats one of my downfalls, I either don't wait for conformation and get the trade wrong or wait for confirmation but my entry feels late.

Cable Update (GBPUSD)

m15 just formed right shoulder on H&S, lets see if it goes down now.

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Thank you, yeh it looks to be pretty bang on most of the time, seems like a great tool for swing trading! Do you have a timeframe preference to use it on?

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I assume he means the red-green MA looking thing. Not 100% sure though. Was interested also.

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Bulls look like they are struggling. Currently bouncing off daily pivot. Doesn't look like it's gonna hold though. May see S1 today.

Cable Update (GBPUSD)

That sneaky 15m 200 EMA messed with pivot traders a bit. However fortunately I use a 200 EMA momentum strategy in congruence. Exited. Bagged 30 pips.

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A daily close below tomorrow's pivot will invalidate my long and I may enter short to S1. We will see!

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Taken long at 12540, SL 20 pips. Pivot will be around 12530 tomorrow so hoping we bounce off of that. Target previous highs.

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Looks like bollinger bands and some MA's, could be wrong though.

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Slow day today...

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What MA are you looking at? A nice close below 15m 200 MA/1h 50 MA, should take us down to that level at least.

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I had the same idea, would make a nice inverse H&S.

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Although we don't have much to show for it as of yet!

Cable Update (GBPUSD)