British Pound H&SI don't like trading GBP but this pattern seems intereting. British Pound is forming a H&S formation, a the neckline in this moement. Short trade.
GBP futures 4/11/2024Prior to CPI and Prior to 4 weeks before the CPI of 4/11/2024
We had 4 weeks of sell signals through COT report.
Date - Net position
03/19/24 -78,920
3/12/24 -78,920
3/5/24 -64,123
27/2/24 -51,590
Because of these net position changes I have decided to short GBP.
So far Cotton short trade
POUND FUTURES SELL SHORTWaiting for rejection off the liquidity zone.
Then I will look to sell from that zone.
Selling only after the break below the HMA and the retest of the liquidity zone
**This is just my trading thought process and does not constitute as financial advice.
**Please trade with proper risk management*
GBP turning the ship aroundWe like the weekly price action in cable futures and would flip from short to long. (Did you at least trim your short position when daily PA started getting hot the other week?) Keep an eye on the monthly chart too.
GBP/USD;) Liquidity grab in the market Trendline creating strong support but also a lot of liquidity My guess is Market will grab liquidity and Then Move Foward Only if Confirmation.
Elliot wave + H&S Pattern Big time frame show down trend
In my opinion correction is over and price seem to continue go down
Flat correction ABC and head and shoulder look confluent so I used it entry this order
1.200 is target with about 2 RR
GBPUSD 6B - Bears to Dominate Next Week?📉Bearish Bias Next Week 📉
🔴Weekly IRL Tagged
🔴Strong H4 Selloff After W-IRL Tagged
🔴Looking to Short into Weekly ERL
🎯Target: 1.2043
Selling climax already finished ?By Wyckoff logic selling climax might already pass
so mean reversal strategy use in this trade setup
momentum bullish divergence indicator such as ROC and MACD confirm this entry
6BV3On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit sprea
GBPUSP (6B1!) Intraday trade - SHORTLooking like cable wants to retest the STONG support zone it broke recently.
As we know, when support breaks, it becomes RESISTANCE.
A good BREAKOUT entry would be below the 12:00am candle today.
Please remember, Jackson hole is today so exercise extra caution and if needs be, reduce your lot si
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Frequently Asked Questions
The nearest expiration date for British Pound Futures (Sep 2015) is Sep 14, 2015.
The best time to sell a futures contract is when you've already made money on the investment, but still have plenty of time left before the expiration date. Thus, a good option would be to sell British Pound Futures (Sep 2015) before Sep 14, 2015.