DJC

Reversal set-up on Cable.

FX:GBPUSD   British Pound / U.S. Dollar
61 1 1
I am not one to call reversals, ever. As I am a continuation trader.

But just wanted to note:

1. Sat within major +OB
2. FIB within range of 0.618 of macro swing.
3. Fractal Reversal.
4. Channel
5. High Wicks above Daily Candles - Shows there is immense buying at the price "they" want?
6. 1.51380 appears to be a key level of significance. (Friday Lows & Offering key Support).
Consider COT data.

http://www.myfxbook.com/commitments-of-traders/gbp

Consider we are still Bearish on Cable!

Be careful, the tide is slack.
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