Last week cable continued to drop to lower prices and I don't think cable has reached the target price yet. I expect a continued sell off to around 80% of the yearly range and possibly more. Retracements are expected and as long as we dont break any recent daily highs I will be looking for short opportunities. Fridays (17/5/19) daily equilibrium (50%) is a key price for any decisions regarding shorts.
Trade active
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Set sell limit at 1.2750 which is now active. SL @ 1.2765 TP @ 1.2650. Nice ROI if price reaches the target.
Trade closed: stop reached
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Lowered SL to 1.2730 and took 20 pips profit. Re entered short at the same price and got stopped for 30 pips. -10 pips overall and now looking for short term buy opportunities
Comment
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Went on to sell cable. Possibly one more push down coming.