Long cable off the yellow highlighted zone,
lovely channel formed to sucker in dumb money.
not much volume below the 50% retracement has me expecting a bounce around here at my key support/resistance yellow zone.
the channel breakout is a confluence and we could see a classic fake out play to sucker in weak shorts and trap them before the pound continues its rally
I am expecting dollar bulishness however we have seen over the past few weeks that when the pound wants to rally not even a strong dollar can stop it so i still see validity in this trade set up
lovely channel formed to sucker in dumb money.
not much volume below the 50% retracement has me expecting a bounce around here at my key support/resistance yellow zone.
the channel breakout is a confluence and we could see a classic fake out play to sucker in weak shorts and trap them before the pound continues its rally
I am expecting dollar bulishness however we have seen over the past few weeks that when the pound wants to rally not even a strong dollar can stop it so i still see validity in this trade set up
