FXWW News/GBP crosses/Technical Analysis/Trade Ideas

Cable: Very important resistance at 1.5750

If we were to get a weekly close above 1.5750 that would raise the prospect of a double-bottom formation and would have the bulls in total control (see chart). Buy dips, or buy a break, that’s my strategy in the cable.

  1. Hello Sean,
    Two questions
    1. Where do you see a good entry point for dips? Still 5280?
    2. Does a 5million leveraged @ x100 moves the market the same way as 500 million non leveraged?

    Regards,

    Wassim

  2. Interesting question Wassim. Theoretically yes but in actuality no, because the big price makers are much less ‘afraid’ of the 100X leverage trade. They know that guy will have to reduce or get out soon and he is also more likely a gambler. The 500 unleveraged is usually money leaving mkt so dealers treat it with much more respect. That’s my view at least. Unlikely to see 5280 again imho, but that’s the ideal entry still imho

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