Cable is on severe downtrend since Brexit vote last summer. We are in the middle of a corrective move of recent major drop, and in the start of the probably last 5th major circle wave from the move that started since July. Now we are either in the 1st of the final big 5th wave or just in the xyz-xyz correction. I don't wanna go in further detail, lets wait if we have a big red daily candle, that will confirm our scenario. So stay alerted to sell here or higher levels, one nice entry point is the 1.2430, where lots of resistance mark up there.
I misunderstood. I thought short means: Opportunity to buy low and in a short time later sell a bit higher. You are probably talking about another scenario when already bought (not sure when thought). Thanks for replying.
JackV.DerSchlesien
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@jackv.DerSchlesien, ps looking for short buying ideas :)
KenCarv
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@jackv.DerSchlesien, Article 50 trigger could be bullish for sterling. Just an opinion.
JackV.DerSchlesien
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What about the brexit triger? if i buy and wait for an uptrend to sell short and the brexit starts followed by a free fall?
gregpap
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@jackv.DerSchlesien, Probably you mean the article 50 trigger, so when this happens I believe its gonna accelerate the fall to much lower levels, but we have to see how the rate will response in the first minutes after the event. The idea is short biased as you see, dont understand why you think u must buy know...cheers ;)