Cable; Little Upside Potential Before Another Leg Down

Cable has been on rise since the Shark pattern stalled the bearish onslaught. But the character of this rise doesn't seem to be impulsive and the time is running out. If the price reaches to the stiff resistance area shown on the chart, I will be considering short positions targeting the 1.5246 area and possibly beyond.

Good luck,

Ali Sharif Azadeh, CFTe

Note

This scenario played out nicely and after a suspicious rally yesterday, the Cable reversed course and started heading south again in an impulsive manner.

SharifAzadeh

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