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6B1!

6BV3On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the premium through any volatile price actions. I will be buying the call (naked) this is a much riskier trade and the "WIN HERE" line is meant for me not sellers of the premium. Disclaimer I took the trade out yesterday but still feel there is room to publish the idea. This is why I recommend selling the premium rather than buying the call.
CME:6BV2023Long
by kewlkat
GBP - 1.24 Lower Next?!GBP - 1.24 Next?! CME:6B1! FX:GBPUSD GBPUSD - 1.24 Next! We've had a great run, I'd still be buying longer term dips on GBP - However, for now I feel a pull back is due and this is great opportunity for us traders to take opportunities of the bull and bear side! Overall pattern, wedge - We've broken to down side the first area of interest to me is 1.24/ 1.23 high areas and the next would be 1.22 areas! If we are to close above 1.25 i'd be re thinking this plan... Trade Journal (Not Financial Advice)
CME:6B1!
by Trade_Journal
3
GBP - Month & Quarter End...GBP - Month & Quarter End... What a quarter we've had...We do still have plenty of data coming out today. Buckle up! We just had EUR CPI flash coming out lower than expected but the core is in line but today we have another important data print coming out of US - Core PCE Price Index m/m. Which is a key metric the FED are taking into account. Now I don't know about you but end of the month and end of the quarter is week I take off and just watch the market as we do get lot of funky moves and I know a lot people struggle with FOMO I was one of them but you got know when to step away and stand on the side line! GBP we hitting the key resistance areas the next area to take into consideration is 1.24/1.25 areas. I've been bullish GBP since the start of the year and I am still very much bullish on GBP but you got trade what you see, not what you think. You can see through my 2023 post regarding where most of them majors could reach. Now where we are today technically, in a bullish trend as long as we are within this channel on cable, we go above the areas of 1.24500 then I expect 1.26 - key resistance is 1.25 keep that in mind... but if we struggle and we go below the areas of 1.2310 support then I expect 1.22 to be key support. Now, i'd be careful trading today....It's Friday a good trader well known as 'Coach' always stated "Don't make your PnL on Friday!" Let's have a great Q2 - all the best traders! Trade Journal
CME:6B1!
by Trade_Journal
BRITISH POUND Futures (6B1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 1.2016 Pivot: 1.1894 Support : 1.1781 Preferred Case: On the H4, with the price moving below the ichimoku cloud and moving within the descending trend line, we have a bearish bias that the price may drop from the pivot at 1.1894, which is in line with the 78.6% fibonacci retracement to the 1st support at 1.1781, where the swing low is. Alternative scenario: Alternatively, price may rise to the 1st resistance at 1.2016, which is in line with the 38.2% fibonacci retracement. Fundamentals: the retail sales data (0.3%) was out today, which is higher than the expected and previous (-0.2%), which is a positive signal of economy, therefore we could expect the drop momentum decrease recently.
CME:6B1!Short
by Genesiv