Cable update 7july2007 with the pivot range about 2.0117 to 2.0131,while daily pivot gu is 2.0102,by this situation,technically gu should try high with the opening price above daily pivot and the daily candlestick at the chart above above resembling hammer.At this critical point where there rally for cable look like exhausted and the conflict with the daily pivot and hammer ,i consider for waiting breakout and monitoring candlestick hourly closely.I'm not going to take big profit,just secure my position,weekly candlesticks show shooting star,it sign reversal and maybe the top has been performed at 2.0207.Anyway i think gu should retry to break highest,maybe the best potential to sell if have a strong reversal there.
My strategy today,waiting breakout 2.0131 for buy pound and my 1st target at 2.0191 at wekkly r1,dont forget to trailing stop loss after gain 25pips,sl at 2.0102 at the daily pivot.If i want to sell gu,i prefer to waiting tomorow,or today the price break the lower hammer at 2.0056..where the 1st target point is around 2.0010.
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