Forex Traders | Dynamic Trader Blog

A Dynamic Trader Blog - Forex Chart Pattern Signals

Wednesday, 8 April 2009

The "UNCERTAIN" Cable ride

Good evening ladies and gentlemen

I hope you all had a wonderful day in the market and through your own analysis managed to obtain plenty of SM pips.

So lets see what our girl, the cable did today and from the daily we can see another small indecision candle today. There was very little movement with price today ranging between 14740 and 14640 before settling at the RN by the final whistle to signal the end of today's play.

The inicators are looking interesting with the Stochastics signal line and also MACD making LH.

However, as always the SM will always be eagled eyed and ready for a set up that may occur and we were presented with one such opportunity to take some of the pips on offer. Below is the 5 minute chart. We can see that Price and MACD converged through the night and slightly on from the opening whistle of play, formed a 123886 with a reversal candlestick before shooting up. As always the SM would have seen the DT and managed accordingly to lock in maximum profits.



So what does this hold for tomorrow? At the moment Price is being held in a R Zone. Your own analysis could determine what could happen next!
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Till Tomorrow
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