Starting it off.
Cable hit 1.2220 area on Friday, so I am expecting some move to the upside, but will post any areas tomorrow, after the market reopens.

Marcin, Sounds good to me. Thank you for opening this week's Trading Discussion.

Al

1.23 was hit last night, but I keep it as a valid area again, as they may to a kind of double top here, just to play around with TL.

And as could have been expected on Monday price action till American session was a joke, but we should see some accelaration to the upside soon, I guess.
Before that Cable is likely to make a new LOD somewhere between 1.2235 and 45.

double .886

They sent it lower, to 1.2225 and here comes some buying.
If they make it above 1.2280 retest of 1.2300-10 is possible. Next level at 1.2345.

Originally posted by MarcinO

And as could have been expected on Monday price action till American session was a joke, but we should see some accelaration to the upside soon, I guess.
Before that Cable is likely to make a new LOD somewhere between 1.2235 and 45.

Cable is shaping for the downside. With a volatility contraction now it's possible they will just retest 1.2220 area. Lower levels are around 1.2130 and and 1.2070.

gdx 5 - double 1.27 in the box, and bigger .618
18.58 - 25.71 = .618 at 21.30
21.57 - 22.47 = 1.27 at 21.33
21.35 - 21.63 = 1.27 at 21.27

the break of 116.15 is bearish, but 115.71 is a potential bear trap.

I am still paper trading. This morning I made a little bit, not enough to cover commissions, on BBG. I like the 50X200 and support and price reversal at the 200. I think I have about 1% more patience than I had a month ago, and I got out too soon.




Al

Beauties!

Al