All aboard for the cable roller coaster ride

Author: Mike Paterson | Category: Education

An up n down n up session for GBPUSD so far 18 Oct

GBPUSD fell to fresh recent lows of 1.3140 as per my previous USD demand post where I warned of more demand into 1.3130.

Maybe/probably a stop-hunt through 1.3150 but in any case we're now back up testing 1.3170 with a little USD supply noted across the board as USDJPY caps into 112.80

Greed is a terrible thing particularly in these markets as I have often said. I was always taught, in my young aspiring interbank trading days all those years ago, to leave a few pips in the market for others. Another great adage I quickly learned, especially when shifting large amounts was "you can only sell when it's bid, and buy when it's offered". Oh, and don't be a d*ck for a tick as I've oft said here too.

In these ever decreasing-range markets carry on jobbing or carry on being patient, whatever suits your style/strategy. Just don't get caught in between the two.

Here endeth today's lesson. I hope some of you are listening.