FXWW News/GBP crosses/Trade Ideas

Cable: Buying dips still my preferred strategy

I’m building a long-term long position here and I’m looking for nice dips to add on. The 4-hour technical outlook (see chart) is bullish in my view and we are currently in a retracement phase which could possibly take us back towards 1.5290/70.

EUR/GBP could well prove to be the key here but getting timing right is very tricky on this cross. I still believe that we will fall back below .80 pretty soon on the cross and that’s the core reasoning behind my cable trade.

  1. I copied your trade last night and now we are 100 pips into the money. I am tempted to book the profit. Do you really want to keep your cable trades in the long run?

  2. I’ve only got very small position and my methods are different. Take your 100 pips. If you can find 1 good trade per week that books 100 pips then you will become very rich very quickly

  3. Just wait as usual Papillon I think. Certainly you can try shorting inside the range, this is an excellent way of building quick big possy if yu can get the timing right. You’re starting to think like a trader 🙂 Could be dangerous 🙂

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