Joeykleene
Long

Cable looking to retest high - nice risk to reward trade

FX:GBPUSD   Pound Sterling/U.S. Dollar
32 0 2
First we look at the daily for long term trend - this is no problem to identify - its UP.

Now we look to enter the long term trend intraday, and this is what I see. A nice risk to reward. Problem is I cant see if we will hit 50 % or 61 % or even trendline @ 78 % fib.

So this is how I will enter.

1 position @ 50 %
1 position @ 61 %
1 position@ 78 %

Happy trading
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