I've just watched the Cable market (GBPUSD) bounce up and down whilst it recovered after a fall of about 150 points at 5am this morning.
When there is a fast fall such as this, there is nearly always a good opportunity to gain some pips on a recovery, especially if the fall takes the chart into a demand zone. Sure enough, there was more than one opportunity to play the cable as it recovered, by going long.
You just needed a bit of patience for the price of Cable to play out as it does tend to like snaking up and down a bit.
The strength of cable is still there and a lot of us don't seem to know why that is! - Is it finally going to break the highs at 1.7045 I wonder? - I believe the
message of this particular blog entry is patience and opportunity, both characteristics can bring great rewards trading!
