OK here is my view on CABLE:
Since that grand drop from 2.06 to 1.97 cable has been drifting upwards until it reached 2.02 level. It penetrated it briefly on 31st of august and tried to do the same ever since. So today it posted new high for the week , which is just aout 10-15 pips short of that August 31st height. From last week cable was struggling to penetrate that level as though buyer were waiting for the better price to buy it at, and today it happened after bearish european session it rallied like crazy ( kind of like yesterday but crazier), this rally had so much momentum that it smashed 170-190 zone ,which was very strong resistance before and penetrated 2.02 level and as you can see it still above it, which makes it more bullish from my point of view. On the way up it also presented me with a little gift
. Me being somewhat of a chartist, i use some patterns to enter my trades but what happened today ( and you can see it from the picture i've attached) is that it made me change my plans somewhat. The pattern on the picture is a bullish one, and in normal circumstances i would enter on the break of 60s level but since i was long already i changed my profit target for 1/2 of my position. I covered 1/2 near 2.02 because nothing is 100% in forex so i wanted to lock some profits in and because of the pattern i will let the 2nd half ride till 2.03 level .or there about.
I dont necessarily expect huge rally , perhaps even a retracement to 60s level but my view for now remains bullish hawkish or whatever you want to call it. So for tomorrow im eyeing 2.03, and as MOE likes to say ( but the opposite ) i will keep my long jons on and hope they keep me waaaarm and cosy
Since that grand drop from 2.06 to 1.97 cable has been drifting upwards until it reached 2.02 level. It penetrated it briefly on 31st of august and tried to do the same ever since. So today it posted new high for the week , which is just aout 10-15 pips short of that August 31st height. From last week cable was struggling to penetrate that level as though buyer were waiting for the better price to buy it at, and today it happened after bearish european session it rallied like crazy ( kind of like yesterday but crazier), this rally had so much momentum that it smashed 170-190 zone ,which was very strong resistance before and penetrated 2.02 level and as you can see it still above it, which makes it more bullish from my point of view. On the way up it also presented me with a little gift
. Me being somewhat of a chartist, i use some patterns to enter my trades but what happened today ( and you can see it from the picture i've attached) is that it made me change my plans somewhat. The pattern on the picture is a bullish one, and in normal circumstances i would enter on the break of 60s level but since i was long already i changed my profit target for 1/2 of my position. I covered 1/2 near 2.02 because nothing is 100% in forex so i wanted to lock some profits in and because of the pattern i will let the 2nd half ride till 2.03 level .or there about. I dont necessarily expect huge rally , perhaps even a retracement to 60s level but my view for now remains bullish hawkish or whatever you want to call it. So for tomorrow im eyeing 2.03, and as MOE likes to say ( but the opposite
) i will keep my long jons on and hope they keep me waaaarm and cosy 
