Cable: Strong technical support at 1.5155/80
- The 61.8% retracement of the move from 1.4830 to 1.5750 comes in at 1.5180 (see chart).
- The double bottom at 1.5000 has a neckline at 1.5155.
If these support levels can hold firm for a few days this would give cable bulls an excellent risk-reward trade opportunity.
Good evening Sean,
We are still in for the cable, for how long I don’t know 😉 ?? If 1,5150 holds, we could short at 1.5400/1.5390 to play S/T swings and then increase the long position ?
http://img51.imageshack.us/img51/5809/hvw0.jpg
agree Papillon, somrthg like that, but if 5150 suppt holds then look to increase quickly with tight stops
Nice plan 😉