Marching all the way up, then down again!

This is typical of cable action. Price built a base from yesterday's action and moved up strongly this morning through 40+ pips to a resistance region clearly highlighted by the Fib & Click Grid.

From the top, a tight MPR formed that sent price all the way back down again for a second profitable move of another 40 pips or so!

The Fib & Click Grid shows where to take some profits

OK, so we did get a dramatic folow through, the whipsawing as the 1.30pm figures came out caused stops to be hit on part but the main position went on for a very reasonable 31 pips on part of this position with a close stop profit on the remainder.

Why did price stop here, well the Fib & Click Grid has highlighted a support zone and is cinfirmed by price action. Wherever price runs from here, profits are preserved and more may be on the cards if 1.860 gives way.

FBR with MPR and Fib, will it follow through?

The 15 min chart with the Fib & Click Grid shows an attempt to break above the highs of yesterday but it quickly reversed for a False Break Reversal.

UK figures this morning whipsawed price violently but the potential reversal is still in place.

The grid is predicting a target zone, that just happens to be coincident with previous support levels.

Could this be a reversal from the Grid Fib?

Maybe yesterdays Fib resistance level and today's attempt to break through is the making of a reversal.

The daily is showing signbificant resistance at the 1.8730 level and needs to be broken for Cable bulls to have their day

Another 100 pip that came to rest spot on a grid line

The UK pound powered ahead all day for a good 100 pips move. The base was formed over the last couple of days with profits to be taken during the base building process.

Entirely predictable, the upmove got going and followed through until it just ran out of steam - but why did it stop where it did? Well there are several things that suggested 1.8730 was it's limit including the major fib level shown here.

Another great day- these trading opportunities just keep on presenting themselves!

Then 52 pips for the second half...

Second stop to break even and then lets see where price will go.

One of my rules is to take the second profit when a reversal is triggered and that happened here - I've found five reasons to close at this level, OK I know that later price went on up before creeping back down to spend the rest of the day in this 1.800 region but taking profits is the name of the game when day trading and this trade certainly did that today!

Let me know how many and which reasons there are to close here??

Twenty two pips during breakfast!!

The Fib & Click Grid highlighted where to get in and where to take profits on this 22 pip trade in as many minutes - what a start to the day...

Note the entry support level on the 61.8% Fib and the, take partial profits target, at 100%

Saturday Workshop

Alan Rich enjoyed meeting a group of twenty UK Traders' Feedback suggest the content was just right...

And the Fib & Click Grid does it again

Price extension target indicated by the grid together with a Multi Point Reversal (MPR). Late in the day on Friday so it's time to close the other half at 1.8550.

Swing traders may be tempted to hold over a small position but for now, with those long tails on the hourly chart and this consolidation zone that has held for three days, I'm content to wait and see what happens on Sunday/Monday.

Quite a spike!!

Wow, quite a spike following the retail sales numbers. Stopped out at break even on the second half.

Shorted again as the upside spike failed, ideal entry @ 1.8605, I was late only getting 1.8587.

Fib & Click Grid does it again!! Price hit the Fib for a half profit, stop at break even, lets wait and see what this consolidation does.

There is always a time to take profits...

There is always a time to take profits, the Fib and Click Grid has shown the reversal area and price action confirmed. Half profit taken, stop to break even on the remainder.

US retail sales figures due in an hour so I'll wait for market reaction before taking a further trade.

Time & price converge

The CAD is hovering around the 1.1325 region this morning for a small overnight profit. The move is over for now so take a look at Cable.

On Cable The Fib & Click Grid is showing a convergence of time and price with a potential false upside break (FBR) Shorts are in with stops now at break even.

Has the CAD gone to far?

Today the CAD has tried, and failed to move higher, now in the region of previous highs as shown on the daily, further upward movement seems limited for now.

The 15 minute chart shows the trading opportunity that may well take the CAD down to the next round number.