Looking at the daily chart of the cable we see spot hitting
close to the top of the Fibonacci, which could hold as a resistance. So I’m
looking to enter a short position on the cable.
PS. Ignore the buy line on my charts, im currently just
testing out the expert advisor function on the metatrader.
Zooming into the 1-hour chart I notice a little bit of a
consolidation occurring between 1.6225 and 1.6250. This looks like a sign of a
potential breakout to occur!
Here’s what im going to try out today. I’m going to watch
the charts all day and just before I bounce out for the for the evening, I’ll
place a sell stop order below the range I’m looking at.
Update on my Euro
trade from Last week
An unfortunate way to end a week! But I got stopped out on
my trade last week at 1.3638, which pulls in a loss of 68 pips. What a bummer!
Well I’m still hopeful for this week, so let’s see how this week works out!
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