We are pretty much at decision point on H4 chart for the closure of the bear flag which I've been adamently staring at since 3AM. My opinion? Short it and ride it in intervals till 1.35. Dollar index++, GBP EUR --

Cable Update (GBPUSD)

Thats true which is why I normally wait for a retest on 15m before shorting with a tight stop. In this case, my stop is @ 55 and shorted at 30 upon the retest.

Cable Update (GBPUSD)

Karmo, please let me place an order for a mass quantity from you. The only alternative I have right now is a frying pan and the mighty strength of my right pip hand.

Cable Update (GBPUSD)

Navin, are we finally coming to decision point on this bear flag!? I been waiting since start of euro session for this...looking forward to a breakout downwards.

Cable Update (GBPUSD)

Ak4x, what an amazing statement. That pretty much sums it up for me at least.

EURUSD

Just got in short GBPUSD @ 1.5630 stop 1.5660 , TP : 1.5550 before re-assessment on next move.

Cable Update (GBPUSD)

Haha. Hope all of you caught that GU breakout. Got out myself with roughly 50 some pips. It's testing the 5640 support right now, waiting for a confirm before shorting till next level 5535.. On a side note, my USDJPY is up a good 150 right now, and ...

Cable Update (GBPUSD)

Been with you on that , its been 4 hours now and still waiting for a break. what price level are you looking at for confirmation of a break?

Cable Update (GBPUSD)

Anybody else spot this? — We got a bullish flag on 5m looking for a breakout north..

Cable Update (GBPUSD)

Just got in long position @ 2904 TP 2950 . Stop @ 2880

EURUSD

Great spot. I have my stop set at 100.3 ATM and will be adjusting it accordingly. Still looking at the longer TF for this trade - see the chart. I'm going to be keeping an eye on AUDUSD and will make a decision during NY session as to how to go ...

Cable Update (GBPUSD)

I know precisely what you mean. Actually, I have over 20 withdrawal forms on my table - all of them filled out, call it a psychological technique I withdraw every once a week considering my target has been met - there are situations though, such ...

Cable Update (GBPUSD)

I've been watching the formation of that reverse H&S for quite some time as well... a break above 7000 , im talking about like 7050 would be a confirmation to long - a long to be held till 7750

Cable Update (GBPUSD)

Yea stopped out at 70, o well I was hoping for a test of 15m ma follow witha break back down, got caught with 20 pips but its alright. lets see how it does when it tests 2900..

EURUSD

Either way we are still in the bear flag. Won't know what will happen untill a breakout occurs.

Cable Update (GBPUSD)

READ MY SIGNATURE!! I'm looking for the closure to this bear flag... still sitting on a short bias for euro + ny session. I don't see the DJ opening + today ... should selloff from last week's gains.

Cable Update (GBPUSD)

Just shorted @ 2840... looking for TP 2800.

EURUSD

If I'm not mistaken.. euro session kicked in 20 minutes ago... wheres the action !?!?

Cable Update (GBPUSD)

Go for it Karmo - my long tong term TP for GY is 135, same TP as you on GU.

Cable Update (GBPUSD)

Good stuff. Looking for a break of this support right now.. will short if it breaks 70 with TP at daily open around 45, if 40 levels get broken, then it may very well be a confirmation of the bear flag on h4 - im on a bearish bias for the euro ...

Cable Update (GBPUSD)