Quoting MoneyMa$terDislikedLooking at the 4H, you can draw a price level at 1.9740 for resistance. Cable approached or marginally exceeded this current price level (1.9738ish) on Dec 8th, 13th and 20th, retreating or retracing significantly each time. Also on the 4H, looks like a double pin forming, which will complete around 11:00 est, or 16:00 GMT.
Unless you just feel like gambling, don't be fooled by falling prices (1.9718); wait until the candle closes, looking for it to close below 1.9710 and expect the next 4H candle to continue and confirm the retreat. That would give us a beautiful pin for a short entry.
Just information; not a recommendation.Ignored
http://www.forexfactory.com/forexfor...postcount=3558
It has taken a long time to even get these 20 pts or so but stops are at b/e so oh well
Mike