Alright I got some issues capturing the screen since I'm not using Meta right now...
so I'll try it this way:
After failing to take out the highs @ 1.6466 yesterday cable dropped continuously all the way down to 1.6358 at which point a choppy Asian session formed a congestion zone on my M30 chart...A break below 1.6358 late Asian/Early Europe today triggered a massive unwinding through 1.6217...
short-term sentiment is extremely bearish atm, although a rapid bounce up to 1.6316 did materialize...the bounce has not done anything to reverse the bearish sentiment...that's why my view for the short-term remains bearish for the time being.
On the higher timeframes the picture doesn't look any better:
A May23-June3rd uptrend line on H8 was broken yesterday early NY session thus increasing downside pressure on cable.
so I'll try it this way:
After failing to take out the highs @ 1.6466 yesterday cable dropped continuously all the way down to 1.6358 at which point a choppy Asian session formed a congestion zone on my M30 chart...A break below 1.6358 late Asian/Early Europe today triggered a massive unwinding through 1.6217...
short-term sentiment is extremely bearish atm, although a rapid bounce up to 1.6316 did materialize...the bounce has not done anything to reverse the bearish sentiment...that's why my view for the short-term remains bearish for the time being.
On the higher timeframes the picture doesn't look any better:
A May23-June3rd uptrend line on H8 was broken yesterday early NY session thus increasing downside pressure on cable.
Hear the music before the song is over ...