Posted by millionaire | Tuesday, March 11, 2008 | | 0 comments »


what do you think about chart above?reversal or retrace?at this time this daily chart still not complete yet,but i just want to add more about the situation above,cable need to close below 1.9970 then we could declare the upside has completed in the nearer term,then if price still place above the range 1.9896 to 1.9970,the cable should rebounce anytime toward next upside target at 2.0345 first.the price would confirm to retry high after 2.0219 break out.then aggressive trader should buy while the price 1.9970 still hold with a stop loss below 1.9970.If you want a secure position u should waiting price to comfort above 2.0090 to 2.0130 zone first with a stop loss below 2.0090,just focus the support and resistance candlestick before,it is 1.9970,2.0090 and 2.0130,that is the key point to determine your position for entry buy or sell,anyway,be careful if price pass the 1.9970 level,it would slip toward 1.9896 and maybe till 1.9795.okay be careful,dont forget to put your stop loss.good luck and take care;)

0 comments