A good strategy will be to look for a retracement of price action on the H4 time frame to an area of value within the MA channels I watch before looking for a buy trading opportunity. The area I will be watching is mapped in the khaki-coloured channel on the H4 time frame (between 1.29143 and 1.30196).
DislikedYou may consider this technical outlook if you are tracking cable this week. The pair has been in a consolidating mode since November 2016. Between November 2016 and March 2017 price action consolidated between 1.19890 and 1.26650. It then moved upwards for another phase of consolidation between 1.26650 and 1.30720. On the daily time frame, price action is operating distally in a clear ascending channel and the order flow context is strongly in favour of buyers. Furthermore, the technicals are in sync for further northward move. A likely target...Ignored
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