Your 4h trendline GBP/USD chart is the exact equivalent of this 1h chart (see below). It is not a very convincing trendline because there is too much white space. However, seeing these very small 1h doji and hammer candles on the right side of the ...

Cable Update (GBPUSD)

From a strictly religious point of view I don't think God likes our Forex trading activities (or any zero-sum game for that matter), since we are essentially taking money from each other (the smart traders taking money from less informed traders). ...

Cable Update (GBPUSD)

Absolutely. Trading will keep challenging us in EVERY possible way, especially emotionally, not to mention financially. It is a very hard profession because it goes against our human nature: We humans love to take quick small profits but refuse to ...

Most traders fail because of no discipline!

Not necessarily, you can risk 2 units to make 1 unit and still make a killing in the long run, if your winning rate is high enough. On the other hand you could blow up your account even if you always risk 1 unit to earn 2 units. In itself the risk ...

Most traders fail because of no discipline!

The cable could go to $0.50 or even less, who knows... Buying stuff just because it's "on sale" is not a sound trading strategy. Things that are "cheap" can get even cheaper. Now if your trading system tells you to buy the cable at level X with a ...

Cable Update (GBPUSD)

Yeah, breakout to the downside, 25 pip loss. Whatever, put it on my tab.

Cable Update (GBPUSD)

Pending buy stop order on the GBP/AUD at 1.6708, just in case. So far the breakout seem to be on the downside.

Cable Update (GBPUSD)

I am in. Now behave yourself Australian dollar or I will personally take the first plane to Sydney and start punching kangaroos video

Cable Update (GBPUSD)

Yep, looks like the breakout has started on the GBP/AUD (see chart below). Pending limit buy order at 1.6695, 25 pip stop.

Cable Update (GBPUSD)

Tantra, you don't have to expect ANYTHING to make money in the Forex, just follow the market, period. If it wants to go that way, go that way too. If it wants to go the other way, go the other way too. That's it, that all there is to it.

Cable Update (GBPUSD)

Here is how that same superb descending channel on the GBP/AUD looks like on the 1-min chart now. We see a potential breakout to the upside (red circle) but it is still too early to tell...

Cable Update (GBPUSD)

Bones was talking about the daily chart, Tantra.

Cable Update (GBPUSD)

Hahahaha, I hear you bro

Cable Update (GBPUSD)

Yep, on the daily charts the cable could break that 1.2660 or so resistance, before hitting another very important resistance level at 1.2935 (red line). Still a nice possible 300 pip move though, assuming your stop is not hit first...

Cable Update (GBPUSD)

What's the matter Elbert, Russia invaded London or something?

Cable Update (GBPUSD)

Descending channel on the GBP/AUD (5 min). This is usually a bullish chart pattern after an uptrend, even though a breakout to the downside is also possible.

Cable Update (GBPUSD)

Australian Trade Balance report in 3 hours (7:30 PM EST), it would be nice if we could pocket a cool juicy 400 pips on the GBP/AUD with the following scenario...

Cable Update (GBPUSD)

I will do some more research tomorrow, PayTheLimit. Right now I am way too tired to think clearly, and in 5 min I wouldn't even be able to tell if I am trading the cable, the Nikkei, soybeans or horse-shit manure Futures contracts hahahaha ...

Cable Update (GBPUSD)

Well, some of Demark trading setups have indeed shown statistically significant predictive power for either long or short entry positions, at least in the Futures market. Of course some futures products, like platinum for instance, do not respond ...

Cable Update (GBPUSD)