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Why I’m trading cable: Lambert

Clive Lambert - FuturesTechs
Clive Lambert, of FutureTechs, says he is trading GBPUSD despite levels being affected by Brexit vote news headlines.

Lambert says cable had a strong rally on Wednesday, but had a quieter following day on Thursday, posting a Doji pattern.

His day trade is to selling a break below 1.4560-65, working a 50-tick trailing stop with a target of 1.4465. He plans to close the trade by 16.30 CET if he doesn’t hit the target.

brian1983 brian1983
I am short on GBP USD too. hope it reaches the 1.44650 target u mention
brian1983 brian1983
GBP USD finally broke the 1.456 barrier... let's wait 15 min more for hourly candle close to confirm this. all the way to 14465
John Roberti John Roberti
dear Clive, after hours of idle position, cable is finally starting to move but is doubtful it will go down as you mention if we have to stop out at 16H00 GMT...!
brian1983 brian1983
just wait a little while more. Hourly 4 RSI is turning below the 50 zone
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
There is an argument for holding this position as long as we get a 4.30pm (London) close below 1.4430, but for the sake of trade management I would be moving the stop to entry now. Have a good weekend, all.
brian1983 brian1983
testing 1.45 likely
brian1983 brian1983
oops... close all at 1.451. maybe my trailing stop too tight. haha. nice call for this trade and thank you. hv a nice weekend


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