26 Aug 2009


Well, been waiting for ages to short cable. I've been waiting for the top to be put in and the trend lines to break to show that we are in a new downtrend. Once we have a TL break we are waiting for that to be tested again from underneath. Cable had a spike out of the bull channel some days back and put in a weekly shooting star. The major UP TL has now been violated and the smaller minor TL has gone too as has the last low of that uptrend. I'm short at 1.6355 with stop at 1.6370 as I took the stop from the last high before the BO on the H1 chart.

No comments:

Post a Comment