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Dec 3rd 2007
Cable Still Looks Good For a Long
losing trade, GBPUSD, forex encounters 8 months, 3 weeks agoTags: Cable, GBPUSD.
Just after the release of ISM results (not much reaction on price action btw), I was looking and scanning around the few hour chart duration of cable (GBPUSD).
Placed a long position at 2.0650, Stop Loss at 2.0620
The stick has just pierced through the 200EMA/SMA lines on the top, for 30 mins and 1 hour. It’s in the 38.2 range and might swing a little within the range. If you hit the 4 hour chart, MACD might reverse to the top still,
I’ll hold the position (or exit) till 2.0717 region and continue to see if it breaks the trendline on the top. Good luck.
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[…] On the substantive side, a few legislators got to ask the cable people serious questions. Points for substance go to Garrison (D-Marietta), Stewart (R-Athens), Okey (D-Carrollton), Barrett (D-Amherst), and Foley and Williams (D-Cleveland). […]