Cable has recently broken through our ascending trend line, is below out 50EMA and has clipped the 38.2% on the fib retracement tool.
This can be an excellent opportunity to short this pair! I would advise using 1% risk for this trade for a 100pip stop loss, and for your to assign your own take profit and not the one showcased. The short position tool is to only advise where your stop loss should be and not where you should set your take profit.
Please note this is my own personal analysis, and I strongly recommend that you carry out your own analysis before executing a trade. Please do not take this analysis as gospel.*
This can be an excellent opportunity to short this pair! I would advise using 1% risk for this trade for a 100pip stop loss, and for your to assign your own take profit and not the one showcased. The short position tool is to only advise where your stop loss should be and not where you should set your take profit.
Please note this is my own personal analysis, and I strongly recommend that you carry out your own analysis before executing a trade. Please do not take this analysis as gospel.*
Note
We came close to SL, looking back I would have taken entry at 50% level on the Fib retracement tool, but this trade is still valid. Something to consider is how the DXY is performing, we may see a huge sell off. In my personal opinion a bubble is about to pop so may be something to watch.Note
Move SL to entry to have a risk free trade :)
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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.
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.