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ORIGINAL POST on 19 Oct 2009:
This is a preview of a trade under discussion at the Fibonacci Trading Forum at DailyForexCharts.com.

Cable (GBPUSD) is at a key decision point here. I have marked the attached Daily chart with a green arrow for a long zone and a red arrow for a short zone. The 1.6400 level is critical.

Look to short rallies in the red shorting zone, or buy dips in the green long zone.

To monitor specific entry/exit details as the trade progresses, join us in the Fibonacci Trading Forum at DailyForexCharts.com

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UPDATE on 20 Oct 2009:
Trading is often not as clean and tidy as we would like. Since the Trade alert above, GBP/USD has stalled right around the predicted 1.64 area. This pair could break either way, but the problem now is to avoid being tempted into false triggers.

Patience is important, we must wait for a break to be confirmed, and then we want a follow-through with momentum after entry.

DailyForexCharts members are monitoring this (potential) trade in the Fibonacci Trading Forum.

I will post an update here in the coming days after my live chat session with DailyForexCharts members.

I was planning to update this trade setup, when a DailyForexCharts member posted a message on the Fibonacci Trading Forum. His message summarizes the trade perfectly, so I have copied it below. Click the chart below to see his trade. The Yellow triangle/arrow is the entry, for a 160 pip profit.

You can learn these trading techniques easily, just watch my video lessons.

Click to view chart

>MartinUK wrote:
>
> Hi Neal
>
> Thanks again for a great live chat very useful and very informative, I
> must say I have joined many clubs re-forex to learn forex trading, but
> yours is by far the best, the interaction you have between and for your
> members is first class.
>
> For me as I love fibs /support & resistance / and price action
> ( candles) your way of trading is the best for me.
>
>Thanks again for all your time and help
> MartinUK