further to the above posts euro looks like it is worth shorting as well, Better divergence signal on this chart. ps does anyone know how to change time in metatrader? mine is an hour ahead

Cable Update (GBPUSD)

I closed my shorts when i saw the DOW moving up. Only good thing I did today. lol No more gambling on trading news stick to some technicals and hopefully right direction fundamentally. Tomorrow is another trading day and I am positioning myself now ...

Cable Update (GBPUSD)

Yes it is last time I gamble, ive tried pre empting news and have lost both times. I won't make that mistake again. Why not ask peoples views on news. I would have thought news results would help the overall picture for direction of cable.

Cable Update (GBPUSD)

Oh dear this is my worst trading day to date! I tried trading news today and got it wrong perfectly! Last time I gamble. What are peoples views on the news today?

Cable Update (GBPUSD)

On the whole degrees arent worth the paper they are written on any more in the UK. Anyone can get one now. Is it also worth getting into debt for a degree when alot of employers prefer experience nowadays? When I was working in IT I only had GCSE's ...

Advice & Opinions appreciated

Looking at the news reports in my view we can see that PPI at 0.7% means that inflation has been contained well by the FED. On the other side of the coin retail sales reports at 0% and -0.2% this means poor growth and would add bias to a rate cut. I ...

Cable Update (GBPUSD)

It looks very much like the market is waiting for the news. The interesting number for me is PPI at 1.30pm expected at 0.6%. This is a number that measures inflation. The FED statement after the interest rate announcement said they were focusing on ...

Cable Update (GBPUSD)

1.9770 is strong resistance it may be better to sell from an area like 1.9762 (purely on the basis that we will have confirmation resistance is broken, it eliminates a potential bounce up from this level like we have see 3 times now). You may lose a ...

Cable Update (GBPUSD)

I do like technical stuff I find it more enjoyable! On techincals,..... 2 divergence signals, possible double bottom at 1.9770, looking better for a small bull retrace to 1.9850 area or thereabouts, worth another long with tight stop? ps chart sized ...

Cable Update (GBPUSD)

Techincals work to a good degree but there problem is that they use past data to paint a likely picture in the future. Therefore you need to have a fundamental outlook as well when trading. What should happen is your fundamental outlook wether ...

Cable Update (GBPUSD)

What size limits are they? Im not sure as I host mine on photobucket and link them in with IMG command On photobucket they look smaller in size but seem to go bigger when they appear on this forum

Cable Update (GBPUSD)

image theres that divergence signal on hourly chart i was talking about, the bar with the orange bit

Cable Update (GBPUSD)

image image first graph (2 hour) shows we are near bottom of current trend channel 2nd graph (1 hour) shows lower bollinger band hit and RSI below 30 level showing oversold What I am waiting for on a 30 min or 1 hour chart is a divergence signal ...

Cable Update (GBPUSD)

I would worry for bulls. USD ineterest rate on hold but with positive fed comments. GBP interest rate only up 25 base points as predicted by everyone - no surprise to market and is already priced in. Trade deficit has not moved market much North so ...

Cable Update (GBPUSD)

I believe if rate is 25 base points then more downside will be seen, a 50 base point hike will turn cable bullish again. Again price has been following the trend since 18th April. image

Cable Update (GBPUSD)

Im reading a Bulowski chart pattern book at the moment which talks about flags and yes this is a good bull flag. I believe we have to wait though until we have a confirmed breakout either side of the flag before commiting the direction. If there is ...

Cable Update (GBPUSD)

I think the political situation of Gordan Brown about to take over the leadership may have an impact on interest rate - rate hikes will not help him in his new start as he is renowned for his UK great economy and he needs all the good publicity he ...

Cable Update (GBPUSD)

Listening to the FED announcement on the CNBC channel rates have stayed the same at 5.25% as expected. This is already priced into the market. The important bit I believe in the FED statement is that they are most worried about increasing inflation ...

Cable Update (GBPUSD)

Yep its a 2 hour chart, Look on this daily chart and you will see we are in a long term up trend, in the top right of the chart you will see some very small lines which is the current down trend which the previous post above in more detail (2 hour ...

Cable Update (GBPUSD)

image On a trend point of view.... From the simple chart above we can see that since 18th April we have had a down trend. It has been quite good in fitting into these trend lines ive drawn. If for this downtrend to finish we would need $2 to ...

Cable Update (GBPUSD)