DislikedHi Mike, I hope all is well.... I shorted cable based on the daily as well.. I already took some profit and covered the trade but I see us heading back down to the 62xx area at least before heading back up... This pair has been in a real crazy range these past few weeks...The monthly looks bullish still though so unless last month's low is taken out, I think we will be heading towards 1.7000 at some point in the near future....Ignored
Today, however, I added to the repertoire, a short on the eur/gbp and a long on the gbp/chf.
The gbp/jpy shorts were closed for full profit at 150 from 158.
The gbp/cad is still on for most of the trade position- closed partial however.
The eur/cad trade from June 9th is still on the table with only one partial left on the position and 500 pips banked and stops now behind the support at 1.58.
I'll post a little trendline analysis on the eur/gbp and gbp/chf trades right now.
You'll see my first target placed on the eur/gbp right at the rising trendline. If we see a pop in price down, I'll wait for the retrace BACK to that and then re-enter. If not, then oh well? I already made bank for the day.
Same deal on the gbp/chf.
I dream, therefore I become.