Posted by millionaire | Saturday, March 29, 2008 | | 0 comments »


Point to ponder next week for cable pair:

  1. Long term trend still below 38.2% fibo line indicate the progression still to downside
  2. Cable far away from upside direction=yellow line
  3. Evening doji star formed at daily chart above
Story of the chart: cable haunted in the range 1.9722 to 2.0392 range breaking upper or lower range should accelerated the trial to the next target.Just waiting with 1more candle on monday,if price closing below 1.9877,the price should continue to turn lower around 1.9730 short term target,in case price close above 1.990 short term target should be in place around 2.0090.

Short term strategy: sell stop 1.9910 stop loss 1.9990,tp1 1.9880,tp2 1.9830 tp3 1.9730
buy stop 1.990 stop loss 1.9910,tp1 2.0030,tp2 2.0090 tp3 2.0130

Long term strategy:sell stop 1.9910 stop loss 2.0,tp1 1.9730,tp2 1.9660,tp3 1.9550
buy stop 2.0 stop loss 1.9910,tp1 2.0090,tp2 2.250 tp3 2.400

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