Cable Long trade from 1.5550 closed out at 1.5875

Cable Long trade from 1.5550 closed out at 1.5875

It’s been so long since entering the GBP:USD long that the comments beneath the post detailing the entry have expired so the only way to share my reasoning for the exit of the trade is through a new post.

Started to get fed up with the Cable long. It’s not showing good solid strength, it keeps reaching the 1.5900 area and dying off again, 1.5960 is a possible upside target, but for the sake of a potential extra 85 points profit against the back drop of a sell off that could come at any moment, I’ve decided to close out.

I closed it at 1.5875 for +325 points.

As the first half of the trade was closed out some time ago for an 89 point profit, the overall aggregate profit on the position as a whole is + 207 points and I will update the trade log to reflect this.

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