effilang

GBP/USD Medium term short

Short
SAXO:GBPUSD   British Pound / U.S. Dollar
Hello,

I just wanted to raise everyone's attention to the massive short potential on the cable breaking down from last weeks consolidation. I sold the evening star at the top of the extension that peaked at the 25 EMA (green on the 4 hour). There should be a lot of momentum to the downside now, because the small money was already flushed out at the top of the recent retracement - so even entering on the breakout of the lows on this would be a safe trade. Suggested holding duration is around 1 week. The fundamental releases tomorrow shouldn't sway this at all.

Stop losses should be above the evening star and first TP should be the horizontal rage of the consolidation, projected vertically.

Best wishes.
Effi Lang.