Cable hits my D extension target!
My target price of 1.5260 has been successfully hit. That was a 400 pip move! I hope those that follow me benefited from my analysis.
I am no longer in any trades on this pair as I have hit profit and I am strictly short bias on this pair so I will wait for price to enter the RED SUPPLY zone that I have highlighted to enter any short positions.
I am keeping a close eye on the ABCD Fibonacci extension ratios and using them as key reference points for support and resistance levels. I like to use them for entry and exit points. I am expecting price to pullback to Fib resistance levels because price is currently oversold on the Stochastic and RSI.
I am now expecting price to hit 1.5026 as indicated by the ABCD Fib ext ratio of 138.2%. I will have short limit orders at the supply area but I will enter short positions if I see price action at the top of the Trend Line.
Lets do this!
Rodrigo
I am no longer in any trades on this pair as I have hit profit and I am strictly short bias on this pair so I will wait for price to enter the RED SUPPLY zone that I have highlighted to enter any short positions.
I am keeping a close eye on the ABCD Fibonacci extension ratios and using them as key reference points for support and resistance levels. I like to use them for entry and exit points. I am expecting price to pullback to Fib resistance levels because price is currently oversold on the Stochastic and RSI.
I am now expecting price to hit 1.5026 as indicated by the ABCD Fib ext ratio of 138.2%. I will have short limit orders at the supply area but I will enter short positions if I see price action at the top of the Trend Line.
Lets do this!
Rodrigo
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