I'm not short. I was long from 6242 and 6333. Took partial profits on both at the highs, closed remainder of 6333 after the UK PMI miss and still holding the remainder of my 6242 long

Cable Update (GBPUSD)

Fibo levels are only a guide... not a hard set rule. Granted I also think we have reached a top, but now we have to see how 6240 reacts... then I'll have a better clue. I'm still leaning towards 6160 area though.

Cable Update (GBPUSD)

I never say never. Best of luck regardless of how it plays out. I'm sure you'll know when to get out if things get rough. Cheers

Cable Update (GBPUSD)

Epic

EURUSD

We will know when we reach 1.6240 support. Do you have that number on the gann chart?

The Club!

I'll be interested in buying U/J when I see sub 101 prices.

EurAnalysis

Okay I see what you mean, but how about this... Taper fears are causing equities to liquidate and bonds do not look so attractive when the US treasury market seems to be on the precipice of a rout (higher yields). So perhaps gold looks like an ...

EurAnalysis

According to E/W theory, the E wave of a triangle seldom hits the trend line, so you may very well be correct. Besides with the way US sentiment seems to be shifting, it looks like a very good possibility that NFP is going to blow away all the risk ...

Cable Update (GBPUSD)

You're right. Based on current sentiment, 6330 is cheap, but we still have two more days of risk events which can seriously change that sentiment. In the meantime, by all means scalp the heck out of it with tight stops and high RRR

Cable Update (GBPUSD)

I might add that depending on how you draw the triangle resistance, we might still be within it. Also, the triangle will only be technically invalidated if the C wave (at 1.6744) is breached. G/U Weekly with E/W count. image

Cable Update (GBPUSD)

Look at it in a different context. It's in a serious demand zone. It also needs to retest the triangle breakout at 1280/90... My shorting sweetspot Gold Daily image

EurAnalysis

Goodbye Euro video

EurAnalysis

Nothing about gold ever surprises me. Not my favorite instrument ever. I like to get in for those 90%+ probability trades only... like those 3 longs from 1180 to 1320 . That is why I will not enter unless I see my sweet spot. Patience is key.

EurAnalysis

Absolutely

Cable Update (GBPUSD)

If 6240 gives way, then 6160 where I suspect there will be loads of demand. Probably a good spot to load long for a nice counter trend trade (in the daily/weekly context) to retest the highs, but ultimately I am still thinking 1.57/1.55 area before ...

Cable Update (GBPUSD)

Gold heading up to my shorting sweet spot around 1270/1280 Still a long way to go but I'm getting excited

EurAnalysis

US Trade balance as expected at -40 billion, so no reaction.

EurAnalysis

Careful with UJ. If taper looks more likely the Yen could strengthen temporarily (U/J down)

EurAnalysis

US Dollar. Fill the gap, form cup and handle and then rally with bullish hidden divergence. Perfect setup Still three more US data releases though. Trade balance, Non-Mfg PMI and Home Sales. US Dollar image

EurAnalysis

So now Atilla says "The muppets got lucky"?

EurAnalysis