Last week I posted a follow-up on Cable and my conclusion – at that time – was to stick with my earlier analysis. The market has shown its hand since and as with any trader deploying a judgemental trading approach I must be willing and able to change my mind if presented with a conclusion contrary to my initial analysis.
Such is the case here with the up to date weekly chart of GBP-USD. Some readers will recognise the presence of a couple of my key techniques in this chart – triggered stops and dynamic pressure. It looks like we will have to wait a bit longer for a visit to the previous highs discussed and in fact I will more likely be seeking short opportunities for a while.
The traders who I spent two very long days with this weekend will most certainly recognise a lot of the things we discussed. If any of you are reading this post – a public thank you to you all for making it a most enjoyable but extremely exhausting weekend! I wish you all good fortune and success on your respective journeys.
Good trading!
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