GBP crosses/Trade Ideas

Cable: If you like cheap and risky trades

Friend of mine reckons its worth buying cable around 1.5665-ish with a very tight stop below 1.5650. His contacts into the options world are usually very good so perhaps there may be a barrier at 1.5650 (mere guesswork on my part). Anyway, if you’re bullish and looking for an entry level with a tight stop, this might be it?

As always, I’d wait and see how the market trades at the level and if it seems to be holding then jump on (even if it means buying a few¬†spreads¬†higher).

  1. I really like this trade actually i was looking forward to a break of this bear flag and perhaps a stop run to shake up the market… i have an entry order 1.5668 targetting that weekend gap!

  2. if theres one very expensive lesson i learnt from last week was that bank recommendations are often as wrong as any normal traders would be.
    read them and shove them into the back of your mind cause most probably you wont find mr.nomura or credit suisse to strangle their throats.

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