Cable - Short opportunity in the making...
Updated
A trade I have been stalking for some time. After breaking out of a previous area of consolidation, price has retraced back into this area. I will be looking for shorting opportunities intraday, with a view to a swing trade targeting the 1.230 region.
Supporting criteria:
Supporting criteria:
- RSI overbought
- ADX approaching extremes
- 61.8% Fib of dominant downswing has confluence with the congestion zone
- 127.1% Fib extension of the current swing is within the congestion zone
Trade active
Short from 1.2381Trade closed: stop reached
Out for break-evenNote
Will look for an opp a little higher up as originally planned.Trade active
Limit order at 1.245 hit.
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