Best Thread Live Cable Trading

I suppose that the price will turn after reaching the 1.5035 level.
gbpusd.jpg
 
I'm trading breakouts at the open on both GBP/USD and EUR/USD using the london forex open system which has always been a pretty reliable indicator of early morning movement. However I've noticed that recently that the market has really struggled to make up it's mind which way it wants to head after the bell.

I think it comes down to the fact that each piece of news is being seized upon at present with a view to a solid trend forming. I did read an article a while back which drew a curve showing volatility increasing over time in markets as a natural cause of news flow and increased manipulation.
 
I'm trading breakouts at the open on both GBP/USD and EUR/USD using the london forex open system which has always been a pretty reliable indicator of early morning movement. However I've noticed that recently that the market has really struggled to make up it's mind which way it wants to head after the bell.

I think it comes down to the fact that each piece of news is being seized upon at present with a view to a solid trend forming. I did read an article a while back which drew a curve showing volatility increasing over time in markets as a natural cause of news flow and increased manipulation.


I'm interested myself in this approach and similar. Made a lot of money at one time trading the FTSE100 index using the first hour's range to give entry/stop levels - the Big Ben strategy. I intend to return to this later in the year when I have fewer employment commitments. The problem I found was that too often price would break out through one level but quickly reverse and make an even more energetic break through the opposite level. So not only stopping me out but also denying me the best moves of the week.

But that was the FTSE - so how do you find these two pairs? Do you use any filters to determine a preferred direction?
 
If it's OK with the regular posters and onlookers here then maybe I'll start posting some cable trades and charts here too. Just a thought. :confused:

Peter
 
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