Cable took an incredible slap more than 1650 pips during the month, movement could been predicted a little bit by the 7 last months on cable which formed 7 doji or quite doji.
Everything is bearish and in all time frame!!!!
But it s interesting to note that we are correcting in 3 waves composed like follow
- the first correction from 2.1161(Nov 07) to 1.9336(January 08)
- We made a correction on lateral movement from 1.9336(January08) til 2.0158 (July08)
- The third movement is in progress
Ususally there is equality, the already hit the theoric point in technical analysis, where the movment from 2.1161 to 1.9336 is the same than the one from 2.0158 to 1.8333*
1.8333= ( 2.0158 - ( 2.1161-1.9336 ))
In Fibonacci we are retraced more than 61.8% of the movement from 1.7047(Nov 05)-2.1161(Nov 08).
Enter short now is in my opinion a suicide, I will wait a signal to buy for a correction of a such movement.
in the uptrend
Be long @1.9125 sL 1.8667
Be short @1.8667
in the downtrend
Be long @1.7749 SL 1.7291
Be short @1.7291 SL 1.7749
I draw a chanel, don't know if it s good or not, thing is if we break 1.7291 we are going much lower arround 1.4500/500 in long term view.
Aucun commentaire:
Enregistrer un commentaire