Today we have got a Textbook topping pattern in Cable. Before the Frankfurt opening we could foresee the pattern, but after the London opening it was confirmed twice. Nice opportunity for profiting. Let’s see the chart: (Cable 60m chart )
- topping pattern during Asian session (60m)
- Price makes double top in 1m. chart at the level mentioned.
- Price breaks ascending trendline. First entry opportunity. Stop above the swing high (top level)
- Price rebounds nicely (second opportunity)
- Target 1,5150: 50% previous leg up and round number (50) and MACD divergence.
Cable 1m chart:
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