cable down trending
Lets keep it simple. Weekly chart is quite bearish (my previous post).
On daily chart cable has just completed its up elliot. 0-4 line has been breached on the downside after a nasty but logical reaction to that line. With this we have a down wave ongoing. The question now is momentum.
No big charting, nothing complicated. A level that has been a support twice has been broken. A rally followed, giving the needed momentum to hop into the down wave.
I'm bearish for cable here and with real money.
On daily chart cable has just completed its up elliot. 0-4 line has been breached on the downside after a nasty but logical reaction to that line. With this we have a down wave ongoing. The question now is momentum.
No big charting, nothing complicated. A level that has been a support twice has been broken. A rally followed, giving the needed momentum to hop into the down wave.
I'm bearish for cable here and with real money.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.