By the way, these famous Demark counts have been backtested here, for those of you who are interested: url

Cable Update (GBPUSD)

Don't worry, February will be an excellent month , plenty of pips for everybody

Cable Update (GBPUSD)

Same to you my friend.

Cable Update (GBPUSD)

On the 1h chart (your favorite time-frame) we see the same bullish scenario for the Yen: a big fat trap candle for the short sellers, at support level (red line). If you see at least 2 candles completely above 113.37, forget about shorting and go ...

Cable Update (GBPUSD)

Alright, first of all let's look at the 4h chart of the Yen to get the big picture (again I am a day-trader, I don't care about these higher time frames). First thing we see is a nasty big hammer. That in itself is very bad news for short sellers, ...

Cable Update (GBPUSD)

Let me take a look...

Cable Update (GBPUSD)

Excellent. Now let's make some money, shall we?

Cable Update (GBPUSD)

You my friend are seriously limiting yourself, I can see that now. And what's wrong with AUD-CHF, you can earn good serious American dollars (like actor James Coburn used to say) with this currency pair alone. Anyway, each trader has his/her own ...

Cable Update (GBPUSD)

Not at all dear, profiting from the trap pattern I just described requires confirmation, it is not that easy...

Cable Update (GBPUSD)

Nonsense, my little niece can do it in less than an hour.

Cable Update (GBPUSD)

28 charts a day for 3 years (or much less if you simply print historical charts), what's the big deal really? The trader must do his/her homework in this crazy trading business, nothing worthwhile is easy, my Chicago friend.

Cable Update (GBPUSD)

Here is the typical trap move during the London session (the chart below describes a phony uptrend, but the same logic applies to phony downtrends of course) Study at least 1,000 intra-day charts on 28 currency pairs and you will understand what I ...

Cable Update (GBPUSD)

Oh yes it is, these huge trap candles appear almost routinely during the London session (not necessarily on the cable), to entice unsuspecting day-traders to buy or sell almost at the exact high/low of the day (in other words at the worst possible ...

Cable Update (GBPUSD)

By the way did you notice the huge bear trap candle around 4:30 AM EST (9:30 AM London time). The cable and other currencies just love to print these huge scary bullshit candles after the London's open, to trap the bears or the bulls, depending on ...

Cable Update (GBPUSD)

That pending order was of course cancelled, after the cable made that huge reversal move around 5AM (EST). I mean when the market makes a 100 pip down move and then completely reverses its direction and goes the other way something is terribly ...

Cable Update (GBPUSD)

Pending short limit order at 1.2520, 35 pip stop. That's all folks, have a great day. Over and out.

Cable Update (GBPUSD)

Later Chicago, have a good one.

Cable Update (GBPUSD)

Give the guy a break, he is too busy drawing perfect trendlines. Bones, just kidding buddy.

Cable Update (GBPUSD)

Absolutely. Each day-trading day is like a day at the racetrack, you have 28 horses (currency pairs) per race and your challenge is to find the winning horse for each race! Not only that but you have to determine which race (horse) will pay you more ...

Cable Update (GBPUSD)

As a day trader I can assure you there are good trading opportunities every single day. I will start my own Trading Journal soon, just to illustrate this point.

Cable Update (GBPUSD)