As anticipated from the previous analysis, I anticipated a higher price on cable as per yesterday which played out.
Observe the high. Will it be taken or protected?
If you engaged in yesterday's move as anticipated, you had a decent outcome. Today could potentially provide another continuation to the move.
My analysis today is that we could print the final bullish leg before we melt lower.
Remember, we are still in the bear territory despite price rallying aggressively.
This is Friday and reversals could be inbound. If uncertain, always secure positions
However, what I'd avoid doing is anticipating tops. It's easier to ride the train than stop it.
Annotations and partials are made in the chart. Play accordingly
If the stop is tagged, I'll re-asses and make adjustments
Possibly hold positions to the New York Session
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if you like the idea, smash the like button
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Observe the high. Will it be taken or protected?
If you engaged in yesterday's move as anticipated, you had a decent outcome. Today could potentially provide another continuation to the move.
My analysis today is that we could print the final bullish leg before we melt lower.
Remember, we are still in the bear territory despite price rallying aggressively.
This is Friday and reversals could be inbound. If uncertain, always secure positions
However, what I'd avoid doing is anticipating tops. It's easier to ride the train than stop it.
Annotations and partials are made in the chart. Play accordingly
If the stop is tagged, I'll re-asses and make adjustments
Possibly hold positions to the New York Session
---------------------------------------------------------
if you like the idea, smash the like button
---------------------------------------------------------
Comment:
1.23129 partial
Comment:
observe what happens
Comment:
1.23250 partial
Comment:
If you prefer using diagonal trendlines, draw one from the recent high to the low looking for where the price has violated it
Comment:
1.23412 partial
Comment:
Accumulation of more longs
Comment:
observe how longs are getting squeezed
Comment:
More buying is taking place
Trade closed: stop reached:
Closed all, if you took partials at least you took something off the table