Short trade set up on Cable - Brexit vote likely to be rejected

Yes we know that Dollar strength is questionable at the moment but we cannot ignore the possible down side to GBP if the UK Parliament votes down the Brexit deal next week. Given the ending diagonal with MACD divergence I would think this is a good opportunity to get short. Naturally we have no guarantee that the pound will collapse but isn't it worth a punt in case it does?
Remember do not open a trade unless price moves down below the most recent low.

I'll update this idea provided it works out.

Steve Nixon
Trainer & mentor

Yorum:

Despite yesterdays drop in the Dollar I'm still looking for a short trade set up on this pair. I closed my original trade on zero to allow the dollar to do it's thing. Price is now pushing back down and I'm looking for another enter set up (green Squiggle) If you don't fancy this one have a look at the other Pound pairs for short trades. Brexit negotiations going pear shaped in the UK Parliament