Possible low risk entry for cable short - GBP/USD
We have a possible double top on cable. We are wedging up on the lower timeframes, price may be being capped currently by the bearish 1h 0.382 fib line.
We can wait for a break and retest of the structure to add to the position if price action confirms our thesis, but a good opportunity presents to establish an initial small position at low risk entry point using a tight s/l above the wedge structure.
We can wait for a break and retest of the structure to add to the position if price action confirms our thesis, but a good opportunity presents to establish an initial small position at low risk entry point using a tight s/l above the wedge structure.