GBPUSD - Brexit pending

FX:GBPUSD   British Pound/U.S. Dollar
Will be taking a long position on GBP/USD             based on the following reasons:

- Bullish hammer candle on Weekly TF.
- Rejection of 0.786 fib
- Respected ascending trendline

You might be thinking that I am super crazy by taking this trade, especially with the referendum only a couple of days away, however I feel as though the UK will not be leaving the EU and this is purely my opinion. I am willing to take on a higher risk as the risk/reward ratio is a lot higher. I expect a 1500 pip move as a minimum, which would blow away some really key levels regardless of which way the vote goes.

If you are taking a similar trade and running the risk, ensure that your brokers either have a guaranteed stop loss or a NBP (negative balance protection) to ensure that you do not end up with a blown account.

Trade safe
Order cancelled: Phew.. well, that was unexpected
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out