Cable Update (GBPUSD)

Quoting VM.

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{quote} Out of curiosity: what is the difference between hedging in this way and just closing a position? I would think closing is actually better as you won't pay overnight swaps.

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Quoting VM.

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{quote} Out of curiosity: what is the difference between hedging in this way and just closing a position? I would think closing is actually better as you won't pay overnight swaps.

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Quoting Wavegarrick

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{quote} Hi VM, Hedging in this way is typically used by longer-term traders to take a pause. Effectively you have closed your trade but you are taking a breather until direction becomes more clear. As Roszey has done it I only hedge on winners, not losers. What seems confusing today, becomes very clear tomorrow. Cheers.

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Quoting TerpFan2

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{quote} That's the Key JayBag... You know it, It's all about 'popping in here', w/some humor, late in the day... The Market's gonna do what it's gonna do. Eco Charts - I must admit, you got me there, (except for the bulls), I'll have to check that. Just Metatrader-4 & 5 and some other add'tl charting at times. I'm trying to just pop-in more w/the humor, Rather than make plans of what the market Should do. My Best Jay

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Quoting Roszey

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{quote} i will decide according to PA which one I should take out before the day's end.

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Quoting Headland

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...a few seem pretty confident that this is the start of an extended bearish move ? Time will tell. Moty pointed out the 4hr rising wedge earlier replicated on dly below, but no downside break and clear or break-retest-clear of the bottom of it yet, ie the steepest ascending t/line on daily. {image}

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Quoting Catempire

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{quote} All lines & technicals aside in 5 weeks time the UK leaves the block... this will (Deal or no deal) have a very detrimental effect on the value of the pound.. Biden will effect the value of the dolllar but he doesn't get into office until 20th of Jan. We go down then up. Fundamentals its written all over the wall.

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Quoting Catempire

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{quote} All lines & technicals aside in 5 weeks time the UK leaves the block... this will (Deal or no deal) have a very detrimental effect on the value of the pound.. Biden will effect the value of the dolllar but he doesn't get into office until 20th of Jan. We go down then up. Fundamentals its written all over the wall.

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Quoting Headland

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{quote} Re Leaving Eu, well strictly speaking we have already left - we are just in this 1year transition period so same thing really, (semantics.) We all know the perceived wisdom re likely market reaction to each outcome. Personally I think leaving the Eu is a potentially grievous act of avoidable self harm by the Uk, but this aside how the market will actually react initially/ on the knee-jerk and longer term remains to be seen. As always, the best advice is to trade what you see not what you think.

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Quoting Catempire

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{quote} Not at all mate, not in the slightest. We still have a deal with the EU, we can still trade in the Block. Everything from customs checks, rules in the sky to finance rules will alter potentially dramatically as of 31st December 2020. UK's GDP will take a big hit and with it as will the £

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