glennmercer
Short

Cable Monthly H&S - Wait for Bounce

FX:GBPUSD   British Pound / U.S. Dollar
There is a clear head and shoulders pattern complete on the monthly chart for cable. Instead of shorting the pair immediately, I'd rather sell it from the 1.6 area to create a higher R/R and minimize risk. If we see a monthly pinbar for August I will be buying the pair up to this level on the 1-4 hour TF. There's an overage of pessimism surrounding the GBP at the moment and any buying pressure may trigger a swift and powerful bullish impulse. The missed pivots above price may pull the pair toward the sell limit level and add to the bullish bias after month end.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out