I was very lucky on my last win on the cable. This last bear bar was quite strong,and I could easily lost all my earnings. Friday's movement was so strong that iI strongly doubt it will turn around into bull land that fast. The up channel drawn may still hold, as it was just briefely pierced, so my guess is that it will now continue (at least) to the bottom of that channel, and that's where I put my take profit limit. Furthermore, It would be unlikely that after the strong down move of the last months would be succeeded by a strong up move. So I trust that until this brexit situation is solved, the movement will mostly range or perhaps continue going down.
GBPUSD continues to be very volatile, so extra care must be put on this trade. Exceptionally the risk/reward ratio is closer to 1, to encompass the fact that everything may turn around very fast.
GBPUSD continues to be very volatile, so extra care must be put on this trade. Exceptionally the risk/reward ratio is closer to 1, to encompass the fact that everything may turn around very fast.