By definition, if you also use FA then your system is no longer mechanical, unless you can also program and code your FA parameters (assuming you can give them a value to begin with).

Most traders fail because of no discipline!

The cable is not doing much at the moment, but the important US Personal Consumption Expenditure Core report (8:30 AM EST) and the German CPI (8AM) should be able to move it tomorrow Monday 30, one way or the other...

Cable Update (GBPUSD)

It depends on your time frame and your take profit. If you are using the 5-min time frame and looking for 20 pips, it does not matter a bit if the GBP/USD is strong or weak. Now of course if you are using the daily charts and looking for 500 pips or ...

Cable Update (GBPUSD)

Hi, Here are the support lines for the GJ if you want some good buying opportunities (blue lines). Notice the 3 nice rectangles and flag-like patterns that were formed during this uptrend (the GBP/JPY loves to print these patterns!). Personal tip: ...

Cable Update (GBPUSD)

The cable is going to break through 1.26 any minute now...

Cable Update (GBPUSD)

Yes I know, but when a bottom head and shoulders appears just after a breakout to the downside something is terribly wrong and the trader should reconsider his short position or at least tighten his stop. In fact the whole breakout could be a fake, ...

Cable Update (GBPUSD)

Buying at 1.2595, 22 pip stop. I now must adapt to this new reality and go long, even though I am still bearish overall.

Cable Update (GBPUSD)

Uh-uh, bottom Head and Shoulders after the breakout, NOT a good sign for the short sellers...

Cable Update (GBPUSD)

Careful, adding to an already losing position is usually not a good idea, unless you really trust your trading setup.

Cable Update (GBPUSD)

Of course, the cable is now pulling its usual ziz-zag routine, it will hit the uptrend line first and then go down, just to get the weak hands out of the way.

Cable Update (GBPUSD)

Stopped out, I was looking at the wrong time frame No problem, I will wait for the next "bus".

Cable Update (GBPUSD)

Short GBP/USD 1.2560, 35 pip stop. Let's go.

Cable Update (GBPUSD)

If you say so.

Cable Update (GBPUSD)

Pound going to parity with the US dollar is indeed a real possibility...

Cable Update (GBPUSD)

It is interesting to note that most traders on this thread are currently bullish on the cable because, once again, we just love to buy things at a low price. Other traders simply buy because they believe that the upside potential is much much more ...

Cable Update (GBPUSD)

Sounds like a good plan but watch out, this beast could also go as high as 1.2700, hit the breakout line and THEN go down, just to shake us out. The cable is a very very clever fox indeed.

Cable Update (GBPUSD)

Now you are talking

Cable Update (GBPUSD)

Still waiting. I almost never trade before 6PM (EST), the spread is too big and unstable and it's just almost random noise really.

Cable Update (GBPUSD)

4H same story, a juicy breakout in progress...

Cable Update (GBPUSD)

You are quite welcome. GBP/USD now trying to close the Sunday gap (1min and 5 min charts)...

Cable Update (GBPUSD)