Yesterday cable bounce a bit after down from 1.9930,in the bigger view,cable still limited below 61.8% fibo retracement from all the time high price suggest more downside could be seen to challenge 1.9330,when look at the intraday chart yesterday,cable bounce completed to 50% fibo retracement from the low 1.9650,this situation indicate a projection to a new low,breaking yesterday low 1.9650 should confirm this situation,this action confirm with stochastic heading down.
recommend trades:
sell cable toward 1.9590,1.9480,1.9330..entry below 1.9700 and break out 1.9650 is needed to accelerated the momentum.stop loss 1.9830.
ok trader now we have a plan,just be patience,discipline and follow the rules entry and exit,while the trading have a high risk you should never ever entry without stop loss.See you then,good luck;)
Posted by
millionaire |
Thursday, April 10, 2008
|
downside pressure
| 1 comments »
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