Brakes on the Cable

Good Day Dynamic Traders,

Hope you all had a fantastic weekend. There is only one (AUD) planned high impact news item today so may be a slow start to the week. The Swissy mentioned on Friday's post is still on the watchlist for a reversal on the short side.

Cable

The Cable weekly chart shows price at a key Fib reversal level and the figure is in sight. An aggressive trader may see this as a good opportunity with low risk to go long if the entry is timed appropriately with patience and the correct signals. However, be aware that this is trading against the trend.

The daily chart adds to the confluence of events by displaying MACD divergence. If you are in the trade, it should be managed carefully.


























Source: Advanced Get

CHF/JPY

The CHF/JPY daily chart provides an opportunity on a break out or break down. The figure is again prominent and price is at a key Fib reversal level (more apparent in the 240 timeframe)which highlights a move up is due. Review lower time frames and ensure confluence of events prior to entry.



























Source: Advanced Get

Happy, patient trading!

"We can't get back and make a new start,
but we can always restart and make a new end."
Ayrton Senna