Cable is in a down trend
Chart below:
Price has retraced to a previous resistance level and has been rejected. (as shown by green line)
Price has now broken down through the short term averages and I am looking for a short position with the trend.
I do not have an order as the NFP data is due to be released at 13:30hrs so I will look to enter short on a break down through the red trend line shown on the chart below.
If price breaks up I will let it go.
If it breaks down I will try to get a decent entry as it moves.
I will update again later this afternoon.
Regards
No comments:
Post a Comment