After the longest weekend of my lifetime, I do not plan to wait another 10 years to witness the next.
I am day trading cable in and around the 1.5450 zone using the 4-hourly 20-EMA as a crucial indicator.
Short term bullish outlook should be re-affirmed above 1.5450, then I would like to jump in and sell anywhere between the 1.5550-1.6000 area.
This is where I see a fresh lower top peaking. I will then gladly ride the crest lower from here, in favour of the underlying bear trend resumption.
I will bide my time in the meantime, if the market pushes up North of 1.5550.
Whenever I see a 50-pip retracement from the top it makes above 1.5550, I will then look to short, no matter the level. Ideally though, this will come into play BELOW 1.6000 and make my life easier.
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Investing.com Piece June 6th 2012
Published 06/06/2012, 10:08 AM
Updated 05/14/2017, 06:45 AM
Investing.com Piece June 6th 2012
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