oops
Long

GBPUSD - nobody loves me ?

FX:GBPUSD   British Pound/U.S. Dollar
628 3 2
I know this looks like catching a falling knife

But when someone has to try it, so I will try. There is no reversal pattern, no positive divergence and no support.
It is just my hunch, Cable has fallen hard so far, almost in a straight steep line and has broken the previous 3-4 times supports. And most likely this will act as resistance, but with RSI really oversold like in Oct11 and Jun12, and 50d and 200d MA that far away like 7000-8000 pips I think I will take a punt for a rebound trade until the resistance line.

I bought today @ 15030 and 14995 and most likely every 50 pips lower some more (to hurt my hand with the falling knife a bit more).

Can't wait

happy trading
KP
it's got some momentum now !
Reply
ok, I am taking off 75% here now with avg ~260pips P&L ( I bought only one more lower dip)... Resistance is coming up now
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