piptank
Short

Cable back in trend channel $GBP $USD #forex

FX:GBPUSD   Pound Sterling/U.S. Dollar
Cable hit major support area (orange line). I assume it will bounce.
Furthermore we are in the trend channel again. It provide a good short opportunity.
Bank of England’s Monetary Policy remain unchanged; Interest Rate at 0.5 pct & £375 billion Asset Purchase Programme.
ECB will start their Purchase Programme on Monday.
Entry at 1.515
TP1 1.485
TP2 1.47
SL 1.536
I'm waiting for further confirmation, but of a similar opinion.
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piptank IvanLabrie
Nice, How would your confirmation look like?
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Depends, right now, I'd like to see the lowest low taken, and accumulation confirming the new trend is down.
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piptank IvanLabrie
Yepp, i'm waiting for lower low, too
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I'll try to play the correction on the way down, got a limit sell at 1.5134.
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piptank IvanLabrie
great, i placed a sell limit @1.515 and 1.52
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This last bearish leg is still young, but I think it has some potential considering the gold/usdollar situation.
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piptank IvanLabrie
i think so. this hole mess with Central Banks pumping money into the market creates a huge bubble
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