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GBPUSD Futures

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GBPUSD1! trade ideas

6BV3On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the premium through any volatile price actions. I will be buying the call (naked) this is a much riskier trade and the "WIN HERE" line is meant for me not sellers of the premium. Disclaimer I took the trade out yesterday but still feel there is room to publish the idea. This is why I recommend selling the premium rather than buying the call.
CME:6BV2023Long
by kewlkat
British Pound Futures 6BV3Disclaimer-Doing this mobile, it really sucks to be honest but here we go. British Pound October 2023 - Short Why V instead of U, concerns about the open interest on the September contracts on the CME. Open interest shirks about one month out, don’t get left holding the bag. For option traders, this does not affect your trade, your preference should be 6BU3 not 6BV3, futures is different. In the last 15 years has a probability of success of 66%. Not the greatest however this 66% is “targets achieved” so as long as it is managed and not “set and forget” you should get some profit out of it. My first target for assessment is at 1.25$ or about there (mobile) that is a .02->.03 draw down and then the king killer target is at 1.21 which is over the last 15yr the high end for profit (.07$) which also lines up with support levels. However just because it lines up doesn’t mean sh*t. Setups could include a calendar spread, back end contract best option would be March imo, or you can hedge the risk on the USD (DX! U3 or V3 on ICE or something)on a long dated or tight (close stops)6BV3 contract. Option dawgs Best case you buy the put and are in it for a short time bc extrinsic value on the option contract will increase so I would not leave it open til the 29th unlike a futures contract. Selling premium here instead is safer however you won’t make as much $ as a bought put. I may wait on the credit side until it recovers in Dec. Whether you’re running the option naked or as a debit spread it should be managed regularly. I cannot post external sites/info however reach out to me and I can provide further documentation. Hope this is readable…… “Where are the kids?” -kewlkat
CME:6BV2023Short
by kewlkat
Short British PoundCommercials have been actively distributing sterling over the past month and a half, even as large and small speculators persist in taking long positions. However, today witnessed a startling turn of events as the Bank of England caught the market off guard by implementing a substantial 50 basis point rate hike. In the event that the price concludes the day on a downward trajectory, I will initiate a short position on the British Pound. This occurrence exemplifies a phenomenon known as 'news failure,' wherein bullish news unexpectedly yields bearish price action. Consequently, if today indeed marks the peak of the market, I intend to set my stop loss order at the day's high.
CME:6B1!Short
by HashxCapital
GBP - 1.24 Lower Next?!GBP - 1.24 Next?! CME:6B1! FX:GBPUSD GBPUSD - 1.24 Next! We've had a great run, I'd still be buying longer term dips on GBP - However, for now I feel a pull back is due and this is great opportunity for us traders to take opportunities of the bull and bear side! Overall pattern, wedge - We've broken to down side the first area of interest to me is 1.24/ 1.23 high areas and the next would be 1.22 areas! If we are to close above 1.25 i'd be re thinking this plan... Trade Journal (Not Financial Advice)
CME:6B1!
by Trade_Journal
3
GBPUSD - Short Term Bearish Analysis/ExpectationThis expectation is a framework to look for a potential trading setup; I don't just execute based on these levels, I always wait for confirmations on lower timeframes This Analysis was done using my complete Strategy which includes: - Smart Money Concepts - Multi Timeframe Liquidity and Market Structure - Supply And Demand - Auction Theory - Volume Analysis - Footprint - Market Profile - Volume Profile - WYCKOFF - ETC
CME:6B1!Short
by SmartMoneySource