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With UK retail sales figures coming out today and expected to decline we could see the cable coming off it’s highs of late. I won’t open a position till the direction is clear again.
Happy trading
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The cable is holding up well in record territory, not giving up any ground. The bullish trend is still in favor and it looks like the 2.0600 area is now the next target. for today my trades are:-
open: 2.0360
target: 2.0450
Stop: 2.0320
Happy trading
Popularity: 3% [?]
Cable is consolidating in a decending triangle formation (signalling a continuation) after yesterdays little move up. It looks as tho the cable is not finished yet even at these levels. It has been contained at the 2.0330-40 cluster resistance and if it breaks through as expected then the next target is around the 2.0600 area.
My strategy for today is:-
The pound is at it’s highest level since 1981, it looks set to continue higher but with a possible resistance comming up at 2.0330, I’m reluctant to take a position at these levels,
Today it might consolidate a little. My strategy, stay sidelined and wait for clear direction.
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The cable is retracing a little as I write this, it is still bullish in spite of the retrace, it could go to 2.0100 today before continuing up, I will wait for more information.
A possible entry is at or near the 2.0100 - 2-0130 (long)
target 2.0200 (plus 70 - 100 pips)
stop 2.0080
The cable is in a consolidation after the last bullish movement. It is in a range between 2,0150 and 2,0190. The volatility is low.Â
The price should find support above 2,0130. The uptrend should continue to gather momentum. Today the BoE releases it decision on interest so expect some excitement.
Adjust yesterdays stop to 1.0120
Cable is in a consolidation after the last bullish movement. The price is just bellow 2,0190 resistance. The volatility is low. Uptrend should continue to gather momentum. My position is still the same as yesterday, buy on the dips while it’s consolidating.
I will open a long position again at around 2,0170.
Hi all,
My name is PeterB and I’ve been trading the cable for quite some time now and thoughts it might be a good idea to post some of my thaughts for the pound. So I’ll popin here daily and post my trades for the day. I’ll be posting at around 7am my time thats, GMT -2 at this stage.
Archive for PeterB.
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