Hi, everyone is selling Cable, but I see a different view.
Buy orders have been triggered and I am looking for a retracement to the +1.32 level and above (between the 23.6 (1.2950)and 61.8 (1.4411) Fibs).
I compound with numerous positions with no stop loss. No indicators, just PA and fibs. I am prepared for another fast spike down before rising, so further Buy orders spaced right down to 1.10 level just in case Cable offers me the opportunity to pick up extra troops. TP will be adjusted depending on momentum if we rise towards the TP levels shown on charts.
The lack of liquidity and chop across the FXmarkets is directing me to place longer term trades with plenty of breathing room and allow the market to stabilise/correct itself over the next few weeks.
Forgive the sloppy channel lines etc, they're just a visual guide as I don't normally use mt4 as my platform, but just to show you my thoughts.
We may end this month as a doji, in which case my buy orders should be quite content.
Buy orders have been triggered and I am looking for a retracement to the +1.32 level and above (between the 23.6 (1.2950)and 61.8 (1.4411) Fibs).
I compound with numerous positions with no stop loss. No indicators, just PA and fibs. I am prepared for another fast spike down before rising, so further Buy orders spaced right down to 1.10 level just in case Cable offers me the opportunity to pick up extra troops. TP will be adjusted depending on momentum if we rise towards the TP levels shown on charts.
The lack of liquidity and chop across the FXmarkets is directing me to place longer term trades with plenty of breathing room and allow the market to stabilise/correct itself over the next few weeks.
Forgive the sloppy channel lines etc, they're just a visual guide as I don't normally use mt4 as my platform, but just to show you my thoughts.
We may end this month as a doji, in which case my buy orders should be quite content.
Attached Image (click to enlarge)
Ever stop to think, and forget to start again?
