I know this looks like catching a falling knife
But when someone has to try it, so I will try. There is no reversal pattern, no positive divergence and no support.
It is just my hunch, Cable has fallen hard so far, almost in a straight steep line and has broken the previous 3-4 times supports. And most likely this will act as resistance, but with RSI really oversold like in Oct11 and Jun12, and 50d and 200d MA that far away like 7000-8000 pips I think I will take a punt for a rebound trade until the resistance line.
I bought today @ 15030 and 14995 and most likely every 50 pips lower some more (to hurt my hand with the falling knife a bit more).
Can't wait
happy trading
KP
But when someone has to try it, so I will try. There is no reversal pattern, no positive divergence and no support.
It is just my hunch, Cable has fallen hard so far, almost in a straight steep line and has broken the previous 3-4 times supports. And most likely this will act as resistance, but with RSI really oversold like in Oct11 and Jun12, and 50d and 200d MA that far away like 7000-8000 pips I think I will take a punt for a rebound trade until the resistance line.
I bought today @ 15030 and 14995 and most likely every 50 pips lower some more (to hurt my hand with the falling knife a bit more).
Can't wait
happy trading
KP