![\"\"](\"http:\/\/www.futurestechs.co.uk\/blog\/wp-content\/uploads\/2013\/03\/GBPUSD_2603.jpg\" "\\"Cable_Bad_Dog\\"")
<\/a><\/p>\nIt shows a Head and Shoulders Bottom formation (it’s a 4 hour chart, by the way) with a Neckline at 1.5159. So ideally any weakness today holds this level, and even more ideally we start to move away from this Neckline, getting through yesterday’s 1.5269 high.<\/p>\n
The reward\/risk on this trade is good as we have set upside targets at 1.5420 and 1.5515. In other words we’re risking 65 ticks to potentially make 260 ticks.<\/p>\n
Whenever we suggest a trade it will always have “positively skewed” reward\/risk. That’s why we didn’t have a trade in\u00a0EURJPY this morning despite making 132 ticks on yesterday’s trade. We may have called this well yesterday, but today there isn’t an obvious trade as far as entry and stop are concerned.<\/p>\n
The main risk to this trade is the Cross itself! As I’ve just tweeted (@FuturesTechs) \u00a0it can be a real pain to trade, and a couple of my Twitter followers, some of whom have been trading the markets for many years, concurred!<\/p>\n
If you want a free trial of our FX calls please click here<\/a>.<\/p>\n Institutions\/Brokers\/Prop Rooms\u00a0can also have a trial of our “Premium” service, which has been going for 13 years now. Click here<\/a> to request a look!<\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" We have been trying to get long of Cable for the last few days. On Friday our money management rules saw us scratch our first “go”, so no harm done there. Yesterday’s move down\u00a0to 1.5143 stopped us out on\u00a0our second attempt. Today we have once again suggested a long, which is small offside as we write.
\nHere is the chart …<\/p>\n