Well it is almost impossible to find stats on breakouts because support and resistance lines are hard to define mathematically, unless you use specific levels like the previous day's high or low for example. And even if you define support and ...

Mr Breakout (Day) Trading Journal

I think he is saying that most breakouts are fake.

Mr Breakout (Day) Trading Journal

Out at 1.2440, 20 pip loss. I can always re-enter later.

Mr Breakout (Day) Trading Journal

Pending order to buy GBP/USD at 1.2450, 35 pip stop.

Mr Breakout (Day) Trading Journal

Uh-uh, Houston we have a problem.

Mr Breakout (Day) Trading Journal

Short GBP/USD at 1.2420, 25 pip stop.

Mr Breakout (Day) Trading Journal

GBP/USD is now testing the neckline (1.2416) of that head and shoulders pattern on the 5-min (see my previous post url ). I guess it's the last call for the (day-trade) short sellers...

Cable Update (GBPUSD)

If your system is profitable and you trade with discipline you will make money, no matter what FX broker you are using. And Oanda is as good as any other broker, makes no real difference at the end.

Opening non-US acc as US resident and having dual citizenship?

Nonsense my friend (just kidding ), here is the real Oh Happy Day, a fantastic song I used to enjoy back in the 70's: video

Cable Update (GBPUSD)

Even if he lives in Antarctica he is still obligated to pay US taxes on any income he receives from his trading activity. And then what do you think will happen if the IRS (US taxman) discovers that he is receiving his income from an overseas FX ...

Opening non-US acc as US resident and having dual citizenship?

He could do that of course, but as an American citizen he is still subject to the rules and regulations of the US.

Opening non-US acc as US resident and having dual citizenship?

No, the name on your Forex account and the one on your bank account must be the same, and that includes your street address as well.

Opening non-US acc as US resident and having dual citizenship?

His FX broker will see that this IP is in the US and probably refuse his application.

Opening non-US acc as US resident and having dual citizenship?

For day (or even swing) traders the cable has just completed a top head and shoulders pattern on the 5-min. Not only that but the trend is also down, another reason to be bearish. Take a look.

Cable Update (GBPUSD)

That's the euro my friend. Nice trendlines however.

Cable Update (GBPUSD)

Absolutely, the UK leaving the European Union cannot possibly be good for the pound. No way.

Cable Update (GBPUSD)

Likewise, although I really have a hard time understanding your posts sometimes, due to your telegraphic style.

Cable Update (GBPUSD)

...or we are simply looking at a breakout in progress.

Cable Update (GBPUSD)

Here is that same "up" trendline on the NetDania website. Seems like that uptrend is not that convincing now. See how easy it is to take 2 points on a chart and call them a trendline?

Cable Update (GBPUSD)

By the way Bones, what happened to that cable uptrend line you talked about almost everyday, this one, is it still valid? url As a reminder and according to the way you drew that trendline, here is what we see now...

Cable Update (GBPUSD)