Wave Analysis
The cable is currenty bouncing from a key resistyance trendline. As long as the price remaijns within the rising wedge formation, we’re waiting for a possible bounce from the upper trendline to trade a reversals. According to the 4 hour charta above, we’re waiting for a clear rebound from the upper trendline to pick a long term short position with an ultimate along the lower trendline. The anticipated bearish price rally is the contnuation of a corrective wave count to the lowerside and should bounce from the lower trendline.
Trade Recommendations:
You may sell the corrective wave (4) towards the lower trendline.
Origin: FreshForex
