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Its time to short GBP!what you think?
Started:May 30th, 2013 (06:35 PM) by FKtrader Views / Replies:327 / 2
Last Reply:May 31st, 2013 (08:00 AM) Attachments:0

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Its time to short GBP!what you think?

Old May 30th, 2013, 06:35 PM   #1 (permalink)
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Its time to short GBP!what you think?

Hello traders,
Im shorting 10 contract 6J from December 2012 after (the Japanese election) and its going really well
Today i decided to short 10 contract of 6B because i think the British government will do the same like the Japanese one.
what you think about it?

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Old May 30th, 2013, 06:35 PM   #2 (permalink)
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Old May 31st, 2013, 08:00 AM   #3 (permalink)
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Im not a fundamental trader so I can't comment about what the Government will or wont do in relation to Japan. Fundamentals really dont impact my trading. But I do also have a longer term bearish bias on the Pound. From a technical perspective the longer term trend is down, we had a nice upwards channel (bear flag) from the beginning of March to the beginning of May, and we've since broken out of the channel to the downside.

I think there may be a little more upside as the market possibly tests the channel breakout, but then I think the larger downtrend will continue.

Just my 2c.

You donít trade the markets; you only trade your beliefs about the markets.
- Van K Tharp
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