Starting it off.

Happy Memorial Day.


Al

And here we are. Cable needed only 3 days to make this astonishing move of 140 pips...
A move down is very likely to start here and send the Pound to new lows at the key area of 1.3180-90 (chart posted earlier). After that a larger bearish correction is likely to happen.

Originally posted by MarcinO

If the Pound (6B M18) breaks above obvious TL 1.3340-60 may send it down again.

So far another boring day. 30 pips of range for over 3 hours.

Finally some action after inflation data from USA. If this reaction continues down, before breakign below 1.32, 1.3285 and 1.3240 regions are to be watched.
All prices for 6B M18, currnetly traded 10 pips above the spot market.

The first support hit.

.382 uup in the premarket today at 24.71

potential bull trap here

and here

abx 15 - another median line and fib setup - sharp back to back moves call for a modified schiff set, anchored at the .50 of the first move, shown with the green set in the first chart. The low of the down swing is actually fib at 12.95, though the fib I look for would have been at 12.91 or 12.81. Price moved all the way to the upper green line and then stopped cold. Fib is at 13.56, so there is a 3 cent overrun. Second chart shows the blue set for a bear move down to the median line, with fib at 12.86 and 12.76

Moving slowly towards the lower zone.
If payroll dtaa from US doesn't change a lot we should see 1.32 today.

Originally posted by MarcinO

Finally some action after inflation data from USA. If this reaction continues down, before breakign below 1.32, 1.3285 and 1.3240 regions are to be watched.
All prices for 6B M18, currnetly traded 10 pips above the spot market.

OOPS. I pressed the wrong button.I guess I had better be more precise in describing what I do.

I decided to start counting commissions in my paper trading, so I will probable stick to profit, loss, breakeven, words more along that line (commissions included).

Good Trading,
Al