All the weekly momentums for cable are pointed down and I believe a retrace to the weekly 5-sma close (magenta lineon left chart) is in order. The confluence of the daily 50 ema / 38.2 fib was the entry point for the sell and we have a date at the trend line at the bottom which squares nicely with the weekly sma close. I will of course secure profits as the trade develops, one never knows what lurks around the corner.
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- Sep 22, 2008 8:40am Sep 22, 2008 8:40am
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- Sep 22, 2008 8:43am Sep 22, 2008 8:43am
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Trade what you see, not what you think.
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I recommend you read something else as this sentence is now concluded.
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- Sep 22, 2008 9:04am Sep 22, 2008 9:04am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
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- Sep 22, 2008 9:05am Sep 22, 2008 9:05am
Do not follow my trades. Trade what you see on your own charts.
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"Millionaires don't use astrology, billionaires do"
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I recommend you read something else as this sentence is now concluded.
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- Sep 22, 2008 9:11am Sep 22, 2008 9:11am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
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- Sep 22, 2008 9:12am Sep 22, 2008 9:12am
Do not follow my trades. Trade what you see on your own charts.
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- Sep 22, 2008 9:15am Sep 22, 2008 9:15am
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- Post #116,454
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"Millionaires don't use astrology, billionaires do"
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- Sep 22, 2008 9:21am Sep 22, 2008 9:21am
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I recommend you read something else as this sentence is now concluded.
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- Sep 22, 2008 10:29am Sep 22, 2008 10:29am
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