As of right now I would say no. Long term this is a downtrend in my opinion. Just because I said trade wall to wall you still have to watch other factors as it may not make it to a specific wall. Yesterday we had a real nice pinbar candle which ...

Cable Update (GBPUSD)

Triangles are traded from wall to wall. They are quite easy to trade. Once they break a wall then that is usually the direction the trend will take it. Not sure if we are in a triangle since I haven't looked but that is how you trade one.

Cable Update (GBPUSD)

I love days like these, makes trading easy...

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Interesting — Very active day so far.

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Dr. D, I don't know if you caught my post last night where I showed the chart witht the EMA pattern and fibonacci lines. Right before the big spike up and following drop down every EMA line was at a fib line. That is what I have been watching ...

Cable Update (GBPUSD)

Wormboy, I finally checked out your thread and I like your charting style. You keep everything simple (which is good). It appears you are big into patterns i.e. triangles, trendlines, etc. and do not clutter things up with useless lagging ...

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I love it, that is about right though.

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I've already started dumping many of my stocks. I use different indicators for my stocks which include candlestick formations, MACD, Stoch and MA's but many started turning bearish. I can always get back in them but lets see where they go for now.

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Doji's mean indecision. Wait for conformation. Could continue could reverse.

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Don't forget though Obama and crew are printing and spending money like there is no tomorrow. Bailouts, new healthcare plans etc. 30 states are crying that they can not meet their budgets. My wife (who is a school teacher) informed me that if this ...

Cable Update (GBPUSD)

NP BT.

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Shad, Here is my monthly EM chart, sorry don't have fibs on that one. But as you can see it has been sideways for about a year now moving in this triangle . Until we break this either topside or bottomside, there is no reason to think that it won't ...

Cable Update (GBPUSD)

While that is true many times you have to look at timing factors. As you know (I think) because we have talked in the past on this forum, I am into trading multiple timeframe fibonacci lines and MA's. Although this is not fundamental analysis it is ...

Cable Update (GBPUSD)

Because where it stoped was a major daily resistance line that wasn't hit yet. Hit it, bounced off it, and will go back to it after some retrace.

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LOL.... I went short and long. Both this month. Closed both though. I promise you this too, by the time the year is over I will have entered another Short...and Long.

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BT and Shad, If I remember correctly you were in shorts stemming back to the beginning of last week. I hope you closed those by now, i do not believe that we will see that point any time soon. Just curious.

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LOL. Oh were going down..........Eventually, just not yet. I wouldn't short anytime soon. Bounced off 161.8 fib line in December and went back to test 100 fib. Posting higher highs, and higher lows. MA's crossing up, and just crossed over a major ...

Cable Update (GBPUSD)

On what basis may I ask. All MA's are starting to cross up. Posting higher highs and higher lows and we have this up channel on the weekly chart. Just curious.

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Yes I agree. And BTW, I love the news. 55 quick pips.

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I figured that was what you meant just wanted to make sure of your thinking.

Cable Update (GBPUSD)