Hello, I am sure many of you are watching Cable. Here's what I see and my reason for a short.
- Bearish Divergence on Daily Time frame
Bearish Divergence on 1hr time
Double Top on 4H time frame holding at a bearish downtrend.
Also, to note the USD index appears to be moving upward, which would bring this pair down.
I believe Cable has a possibility of going long, so I am prepared to be stopped out about the 4h trend and look to enter a long position if this happens, but I am biased for another leg downwards to at least 1.536 area and most likely lower to resistance level near 1.52.
For the trade look for a break of the dotted trend line, then wait for it to retest to fail. Enter and collect pips :)
*I am not giving away signals, this is just for my trading journal.
Comment:
....And USDindex. I grabbed this chart from anilmangal
Daily
4HR double top
Entry Zone