As I said in my post yesterday, if Cable failed to make a higher high, then I would be concerned that it would have the appetite to attack the resistance at 1.6300.
Cable did pull back to the averages, however the stochastic was not at the correct level, and with the failure to make the higher high I backed away from the trade.
Rules are NOT made to be broken and on this occasion they have saved me a 1% loss.
I will look else where for a trade set up that ticks ALL my boxes.
Chart below.
Have a good day and I will update as soon as a setup is identified.
Regards
Scott
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