Earlier this afternoon I said I had bought Cable and here's what I did - I forgot about posting this as the subsequent sell offs in Ero and Cable - IMO mainly due to dollar strength - kept me rather busy
The chart tells all and not only was that low ~todays' RDL level, but also the low 102 days ago - a level all Cable traders should be very aware of!
This was a trade against the higher TF trends and taken because price was very extended - at the outer band, so 40 pips from the dragon, at an important S&R level and showing several bear climax candles and thus ripe for a pull back, hence a single scout buy for ~30 pips
Later both € and cable gave great sell signals which anyone can see - back into the 15 min down trend
The chart tells all and not only was that low ~todays' RDL level, but also the low 102 days ago - a level all Cable traders should be very aware of!
This was a trade against the higher TF trends and taken because price was very extended - at the outer band, so 40 pips from the dragon, at an important S&R level and showing several bear climax candles and thus ripe for a pull back, hence a single scout buy for ~30 pips
Later both € and cable gave great sell signals which anyone can see - back into the 15 min down trend
Trading Levels with WRBs