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MarcinO
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Posts: 5,506
Cable sell-off started right below my most favorite 1.32010-20 area. It is still possible they will send it to a new nominal high right there, but most likely play is a move to 1.3140 before American open and then down.
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MarcinO
Rep: 67
Posts: 5,506
Pound is shaping on M1 as if for Dollar strength on home sales data release.
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MarcinO
Rep: 67
Posts: 5,506
No fireworks on data release... Nighmare day for FX traders- Cable in 25 pips range for over 5 hours now, but I will keep my short position, although with much more tightened SL.
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MarcinO
Rep: 67
Posts: 5,506
Some signs of reversal on M1.
Originally posted by MarcinO
91 for ES is a top of my resistance area.
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MarcinO
Rep: 67
Posts: 5,506
My gut feeling is that for some reason they need to defend 1.3180 support till London close (11:30 EST). Just a thought.
Originally posted by MarcinO
No fireworks on data release... Nighmare day for FX traders- Cable in 25 pips range for over 5 hours now, but I will keep my short position, although with much more tightened SL.
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MarcinO
Rep: 67
Posts: 5,506
And this what they did. Cable formed an ABCD to 1.3167, but no reaction so far.
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MarcinO
Rep: 67
Posts: 5,506
It looks like a weak reversal is shaping now. 1.3190 and 1.3205 are the areas to watch now.
If it breaks above yeterday's HOD, 1.3270-90 might be in play.
If it breaks above yeterday's HOD, 1.3270-90 might be in play.
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MarcinO
Rep: 67
Posts: 5,506
It's rising as hell! 1.3240 region needs to watched over carefully. It may stop there.
