We like the weekly price action in cable futures and would flip from short to long. (Did you at least trim your short position when daily PA started getting hot the other week?) Keep an eye on the monthly chart too.
CME:6B1!
👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate. 🟢
👉 2. Price goes BELOW the selected range. below. Short positions to activate. 🔴
⚠️ Important Notes:
1. Follow your risk management rules.
2. Timeframes: up to 1D
Type : Bearish Momentum
Resistance : 1.1953
Pivot: 1.1895
Support : 1.1783
Preferred Case: On the H1, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 1.1895 in line with the pullback resistance to the 1st support at 1.1783 where the 161.8% fibonacci extension and...
Type : Bearish Momentum
Resistance : 1.2201
Pivot: 1.2109
Support : 1.1952
Preferred Case: On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop to the pivot at 1.2109 in line with the swing low support, 78.6% fibonacci projection and 78.6% fibonacci retracement. Once there is downside confirmation, we would expect...
Type : Bearish Momentum
Resistance : 1.2124
Pivot: 1.2057
Support : 1.1855
Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 1.2057 in line with the swing high resistance to the 1st support at 1.1855 in line with the 78.6% fibonacci projection and 161.8% fibonacci...
Type : Bearish Momentum
Resistance : 1.2563
Pivot: 1.2514
Support : 1.2432
Preferred Case: On the H1, price is moving within the descending channel and is below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 1.2514 in line with the overlap resistance to the 1st support at 1.2432 where the swing low support, 100%...
