Wednesday 20 July 2011

£$- cable again




















Classic support on CL and Fib level and warning/reaction line (dashed brick red) from the reaction line grid...the fact of a possible high probability long setup is confirmed by the higher 60 min TF chart with a bullish candle formation. The result is ( after a re-pierecing of the CL/.50 FibRT level) is a nice bullish bar up and a test of the UMLP then after a perfect .618 Fib RT (of the second move up ie CL to UMLP) a second attempt to go though the UMLP is underway which i have no doubt will be succesful.

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