Cable pullback

Good Evening Dynamic Traders,

Hope you are having a good trading week. Today the pick of the charts is the Cable.

The Cable has been trending up nicely recently and providing good profits. There appears to be strength available in the trend up and therefore it looks likely to continue. That said, no one knows what is going to happen and therefore the smart money must be prepared for alternative eventualities.

The chart pattern in the 240 chart below suggests a potential double top. Given that resistance is on the horizon (note the figure) it would not be unusual to expect a pullback. Therefore if you are already long in the trade, protect your profits by tightening your stops. If not in any position, one should wait patiently for the pullback and a good entry to go long in order to trade with the trend.
















Wishing you a fantastic weekend.
Good Trading!
Bijal Shah


www.fxcps.co.uk
www.fxcps.eu
www.dynamictraderblog.com

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