Possible low risk entry for cable short - GBP/USD
We have a possible double top on cable. We are wedging up on the lower timeframes, price may be being capped currently by the bearish 1h 0.382 fib line.
We can wait for a break and retest of the structure to add to the position if price action confirms our thesis, but a good opportunity presents to establish an initial small position at low risk entry point using a tight s/l above the wedge structure.
We can wait for a break and retest of the structure to add to the position if price action confirms our thesis, but a good opportunity presents to establish an initial small position at low risk entry point using a tight s/l above the wedge structure.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.