CABLE AFTER 16/8/21 Thinking out loud
We have made our big impulse from near the daily bullish order-block yesterday and are yet to see what the week ahead holds. Retail will think its just another deep retracement and pile on more shorts coz they were successful last week. So Institutions will play this current level, allow us to build more and more short positions probably in London Monday(16/8/21). May retrace a bit to make us think they are truly going short then New York session.......BOOOOOM!!!!!! More upside movement. Long term target should be the liquidity void at 1.4030-1.4074 (we don't know when we will reach there so we have to analyze everyday).
Hold on to the longs from yesterday, move up the stop losses to at least break even especially if you are 40 pips or more away from current level. Don't trade London on 16/8/21 unless its on retracements and to add longs at 1.3840. a nice place to put buy stop would be 1.3880 but not early on or you will be dragged down to your stop after a false breakout (i hate breakout trading). let them play that level and when they come back you can take it. i expect us to reach 1.3940 Monday or Tuesday.
"My impression is that to make money, you have to hold a position with conviction"
Bruce Kovner
Hold on to the longs from yesterday, move up the stop losses to at least break even especially if you are 40 pips or more away from current level. Don't trade London on 16/8/21 unless its on retracements and to add longs at 1.3840. a nice place to put buy stop would be 1.3880 but not early on or you will be dragged down to your stop after a false breakout (i hate breakout trading). let them play that level and when they come back you can take it. i expect us to reach 1.3940 Monday or Tuesday.
"My impression is that to make money, you have to hold a position with conviction"
Bruce Kovner
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