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Today we git a tricky session as we got fast moves on the both sides at the European opening, but anyway there was a fast scalp opportunity at Cable. Let’s see the review:
- 60m. Asian Channel support becomes Resistance as it holds for the first hours.
- Price touches the resistance and reverses.
- Price breaks ascending TrendLine
- Short entry opportunity. Stop above previous swing high.
- Partial profit taking at Asian support. We leave the rest running. (”The runner”)
- Caution !! Price reverses very strongly at “50″ round number and 21% fib. ret. 60m. from the previous up leg. The reaction was a “V” shape pattern and it’s one of the most difficult ones for trading, as you usually realize after the fact.
Cable 60m
Cable 1m
