Thanks for these clarifications Jason.

FXCM and CEO Drew Niv banned from US market by CFTC

Hi, I am currently waiting for a trading signal on the GBP/CAD. Price action is lousy these days, no real trend.

Mr Breakout (Day) Trading Journal

Since GBP/USD and EUR/GBP are inversely correlated (most of the time), that means that if EUR/GBP goes down (see bearish Head and Shoulders above), GBP/USD will go up. At least in theory, because it will also depend on the strength of the USD.

Cable Update (GBPUSD)

And on the 1h chart of the EUR/GBP we have a breakout in progress from another head and shoulders formation. This is an even more powerful event, because now we have a second H&S that confirms the first (not yet completed) H&S on the daily chart ...

Cable Update (GBPUSD)

Yep, a Head and Shoulders pattern that also breaks through a trendline is a very powerful bearish signal on the EUR/GBP (target is at least 750 pips, see daily chart). Bones, don't tell me my trendline is not "correct" or the Leprechaun gets it! ...

Cable Update (GBPUSD)

Have a good one too

Cable Update (GBPUSD)

It's one of the first rules about breakouts from triangles: the breakout must not appear near the apex of the triangle. url From the article: "A break too near the apex may end up being insignificant."

Cable Update (GBPUSD)

Here is an example of a good and a bad breakout from a triangle, see chart.

Cable Update (GBPUSD)

Your triangle is a so-so triangle, there is just too much space (see chart). The price is also way too close to the apex (red circle) of that so-so triangle, so any "breakout" (or breakdown) is virtually meaningless from a technical analysis point ...

Cable Update (GBPUSD)

Breakout in progress on the GBP/CAD (5-min). Let's see if the price (currently at the 50% intraday Fib level) is simply trying to test the lower trendline...

Cable Update (GBPUSD)

Daytrading is no more complicated than swing trading or long-term trading. Well-known chart patterns that appear on the daily/weekly/monthly charts also appear on the 5 or 15-min charts.

EURUSD

Don't worry my friend you are almost there, take it one day at a time, keep up the good work, keep studying those charts and everything will be fine

Cable Update (GBPUSD)

Money never sleeps pal (especially in the Forex market), you should know that by now .... Anwyay, trade well. video

Cable Update (GBPUSD)

Good luck to you too Sir, thank you for your input.

Cable Update (GBPUSD)

That's precisely what I explained here. url Good analysis my friend.

Cable Update (GBPUSD)

Waiting for action... I am in no hurry... In the long run you are going to miss a lot of opportunities ($$$) with that kind of reasoning. For example let's say you wait 3 months for a Head and Shoulders formation on the daily chart or 4 charts. You ...

Cable Update (GBPUSD)

My friend, forget about correlations, sometimes they work and sometimes they don't.

Cable Update (GBPUSD)

It's because you are chasing the wrong "horse" PayTheLimit, right now the action is on the GBP/JPY and the GBP/CAD, forget about GBP/USD for the moment, it's a dead horse. In Forex, Futures or Stock, always go where the action is man, stop wasting ...

Cable Update (GBPUSD)

Amazing, almost everyone in this thread here is talking about monthly, weekly or daily charts. Seriously, am I the only here trading on the 15-min and 5-min charts or what? In any case I strongly believe that waiting for the completion of a ...

Cable Update (GBPUSD)