As I sat here Friday watching the rise in Her Majesty’s pound, I couldn’t help thinking there was a good short trade to be had amongst the noise, waffle and hot air permeating from London and Brussels .
I wrote of my short trade late Friday and also warned of the dangers of opening and holding a new position into the weekend. I took my own advice and closed out half before I went to bed and added back at the Sunday open. Opening gaps after a weekend can be wonderful if you are holding the right side of them, and a complete nightmare if they were to jump your stop loss at market open .
It’s setting up to be another fun week for the pound with plenty of opportunity. I have more of a feeling/belief for selling rallies still, and my bias is for further losses in GBP.
GBPUSD-H1
Fridays chart below .
GBPUSD-H1 entry
Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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Very nice entry last Friday HD-san ! I went short last night at the open on Ryan’s press warning , added this morning to shorts. It’s broken 2 support lines @ 1.3106 and a long term one( debatable as what’s been the real low ?) all the way back to the flash crash last yr, with March and Aug as relay points. I’m short Cable and GBPCAD. The latter in case the ME situation takes a turn for the worst and oil would spike, TPP coming to fruition and USDCAD already on the defensive . https://uploads.disquscdn.com/images/0253a968bfaed8a299ea57aa0b2f2624b8ef5933b549b5bc62e4a05a099fa4ca.pnghttps://uploads.disquscdn.com/images/a8389a0bbc8c0516a9fb4864b164c7242fa70964b0c10b5adb28037aeed5abac.png