Still bullish GBP/USD, eh? You never quit do you? My friend, look at this chart and tell me what could possibly prevent the cable from going to parity with the USD... Cordially.

Cable Update (GBPUSD)

Yep, Asian session = consolidation (most of the time). However, we could see some more selling pressure on the cable, it's not over yet, or so it seems...

Cable Update (GBPUSD)

Ok, so what's left on the "menu" for today? Australian Home Loans report plus the Reserve Bank of Australian Statement on Monetary Policy, both at 7:30 PM EST. So, again, the action should take place on the GBP/AUD, for all of you news traders out ...

Cable Update (GBPUSD)

This position was closed at break-even, after the market moved 75 pips in my favor. By default, all my day-trades have a 25 pip break-even circuit breaker. The reason is very simple: most of the time, when the market moves 25 pips or more in my ...

Cable Update (GBPUSD)

Hi Giulietta, I will start posting this Monday Feb 13, I have been busy testing a new trading system. I will also answer your questions later. Thank you for your interest.

Mr Breakout (Day) Trading Journal

Sure, the euro could (should?) pullback to 1.0730, a good resistance level for two reasons : it is both the breakout point of the trendline and the price where the neckline of the H&S is located.

Cable Update (GBPUSD)

On the EUR/USD you have a breakout of the trendline AND a Head and Shoulders formation already in progress. It is impossible to be more bearish than than hahaha

Cable Update (GBPUSD)

Another typical AB CD bull trap after the London's open.

Cable Update (GBPUSD)

Yes engulfing patterns are quite interesting indeed, but be warned that they are not that easy to trade my friend, you need to "qualify" them first and then wait for confirmation. We will talk about it later if you don't mind, right now I am too ...

Cable Update (GBPUSD)

So you are bullish GBP/USD on the 30-min chart, Fontu, yes? Here is another totally different (and equally possible) scenario on the same exact time frame you are using. As you can see we have a double price rejection at the 50% fib level. This ...

Cable Update (GBPUSD)

CHF Unemployment rate in 30 minutes (1:45 AM EST). Sure, but the GBP/CHF is going nowhere at the moment, no real trend, it's just garbage, small 60 pip daily range so far, I will pass.

Cable Update (GBPUSD)

In less than 6 hours in New Zealand, sure. So how was your nap by the way? You know that money never sleeps pal, don't you? Just kidding video

Cable Update (GBPUSD)

I knew it I knew it, the winning horse was the GBP/NZD, not the GBP/AUD. They say the most uncomfortable trades are usually the most profitable, how true! Oh well, GBP/AUD is still making me money (20 pips so far), now let's see how high it goes... ...

Cable Update (GBPUSD)

And as expected, the cable was unable to break through that big fat candle (see chart). In fact, it could easily reverse the entire intraday trend. The lines you see on the chart are the 25%, 50%, 75% intraday Fib levels (well almost). By the way, ...

Cable Update (GBPUSD)

Bought GBP/AUD 1.6410, 35 pip stop. Let's go. (Technically we have a breakout from a descending channel by the way):

Cable Update (GBPUSD)

Hmmm....right now the GBP/NZD is saying "Don't mess with me man, don't even think about it!" So I guess I will leave that wild wild beast alone for now.

Cable Update (GBPUSD)

Later PayTheLimit.

Cable Update (GBPUSD)

Alright, some financial reports/events are due in 30 minutes or so : UK RICS House Price Balance, Australian New Home Sales, NZD Reserve Bank Governor Wheeler speech and Australian Business Confidence report, so let's see what the GBP/AUD and ...

Cable Update (GBPUSD)

No way, as a day trader it's not even on my radar, we are talking about a 400 pip move here! It's like asking me if it is going to rain in 2050 June 27.

Cable Update (GBPUSD)

Wise trading decision, waiting for clear, unambiguous trading signals is the way to go.

Cable Update (GBPUSD)