Hello there,
What is happening today in the cable market? Nothing much! It's just that, currently, the cable is selling strong. In the H4 timeframe, we have seen that the price has pulled back, respecting and rejecting the 23.6 fib level. If the current candle closes to form a bearish engulfing candlestick pattern, then we are good to sell It right away.
Why should you sell the cable now? The strong trendline has been broken and the price is now below the 50 and 20 moving averages. This shows us that the momentum is in favor of the bears.
Stop loss: 1.2238
First Take profit: 1.2138
Second take profit: 1.1942
Entry: market
Shalom.
What is happening today in the cable market? Nothing much! It's just that, currently, the cable is selling strong. In the H4 timeframe, we have seen that the price has pulled back, respecting and rejecting the 23.6 fib level. If the current candle closes to form a bearish engulfing candlestick pattern, then we are good to sell It right away.
Why should you sell the cable now? The strong trendline has been broken and the price is now below the 50 and 20 moving averages. This shows us that the momentum is in favor of the bears.
Stop loss: 1.2238
First Take profit: 1.2138
Second take profit: 1.1942
Entry: market
Shalom.