Breakout to the upside, could be a fake..

Cable Update (GBPUSD)

The cable is still trapped inside an ascending channel, breakout coming up....

Cable Update (GBPUSD)

Thanks, glad you like it, I love Blues and Jazz music. You bet. Alright, cable approaching 1.25, I guess that's our last chance to get aboard this down breakout...

Cable Update (GBPUSD)

Yep, after these important financial news some traders will be laughing all the way to the bank. The others will be singing the Blues... video

Cable Update (GBPUSD)

That is indeed another possible scenario.

Cable Update (GBPUSD)

Such a move would render the down breakout even more suspect... Just my opinion.

Cable Update (GBPUSD)

On the 1min the cable consolidated inside an ascending channel and then dropped down.

Cable Update (GBPUSD)

1.2545 is a good resistance level but I don't think the cable will pull that far, that would render the breakout less valid.

Cable Update (GBPUSD)

Seriously Bones, why do you believe that "perfect" trendlines will allow you to make more money, in the long run? Drawing perfect textbook trendlines will only accomplish one thing: you will end up leaving tons of pips on the table after the ...

Cable Update (GBPUSD)

Yes, but the charts are under no legal obligation to do what they are supposed to do, that would be too easy. That's why the trader should always remain alert and constantly adapt to new market realities, on a daily basis.

Cable Update (GBPUSD)

Oh really, is that so? Look at the charts you have just posted, here is a perfectly good trendline from your examples and yet the price cuts through the line... You should really stop trying to draw 100% perfect trendlines, it's a waste ...

Cable Update (GBPUSD)

Sure, we all have opinions ("the market is going to go here, the market is going to do this or that..."), but at the end I always trade what the chart is saying, not my opinion, no matter how sound it looks at that moment.

Cable Update (GBPUSD)

Nope, I will not do such a thing, Bones

Cable Update (GBPUSD)

That breakout was real after all. Next stop is 1.24, a powerful magnet. Waiting for a pullback to 1.25 to go short.

Cable Update (GBPUSD)

That is true. Trading more frequently does not increase risk at all. Do casinos take more risk if the gamblers start betting more often? Of course not, they just make even more money. Anyway, thanks for sharing and take care for now, I am off to ...

Cable Update (GBPUSD)

What I am saying is that if you have a trading edge (like the casinos), your optimum strategy is to search for your winning trading setup everywhere, not just in 6 pairs. This will not only diversify your positions, but also give you MORE trading ...

Cable Update (GBPUSD)

You truly believe that trading less is more profitable, in the long run? Do you think casinos will make more money if they stay open only a few hours and accept only a few customers, per day?

Cable Update (GBPUSD)

Absolutely! There are 28 currency pairs to choose from, just with the majors (USD, EUR, JPY, GBP, AUD, CHF, CAD, NZD), so we should never limit ourselves to ANY specific pair. Yes I post mostly on this cable thread, but believe me I watch them all, ...

Cable Update (GBPUSD)

Take a look at my GBP/JPY chart, the second blue line, that's precisely the support line where you intend to buy (143.15), give or take a few pips. In fact 143.00 is an even better price in your case (see my chart below). So we do draw lines the ...

Cable Update (GBPUSD)

Rounding bottom on the EUR-NZD, if someone is following this pair.

Cable Update (GBPUSD)