So The Brits have initially pushed cable down to retest its earlier low and the hourly 20 and 50 EMAs (green) are both still heading down.
However, the tweezers / railroad tracks bounce up off the 175 level was strong, so now we need to see what happens in the Fib Decision Zone. Will cable decide to turn back down OR will it pass up thru the zone confirming the long AND suggesting a move back up towards Friday's high.....TWT, meanwhile, I've banked 30 pips of profit, leaving the remainder to run with my trailing stop now at 4195
UK Manufacturing PMI is at 4:30 EST / 9:30 GMT
However, the tweezers / railroad tracks bounce up off the 175 level was strong, so now we need to see what happens in the Fib Decision Zone. Will cable decide to turn back down OR will it pass up thru the zone confirming the long AND suggesting a move back up towards Friday's high.....TWT, meanwhile, I've banked 30 pips of profit, leaving the remainder to run with my trailing stop now at 4195
UK Manufacturing PMI is at 4:30 EST / 9:30 GMT
Trading Levels with WRBs