Cable

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : Day Chart (Posted Below)

Those of you day trading may have made from the down move explained in this mornings blog and then the up move from 1100hrs GMT. We highlighted the Bearish engulfing candle formation with price pulling back to 16320, giving you a chance of 180 pips.

We then had a hammer candle formation indicating possible change of direction followed by a move up of over 200 pips, giving a total opportunity of over 400 pips for the day.

For those of you who swing trade then you will or should still be in the trade since entering on Friday and possibly 600 pips to the better.

We have a key resistance above us from previous October, and with both RSI and stochastics showing a higher than normal reading, a breather or reversal could be likely.

As always please do your own analysis before entering the trade and check for news.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

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