Wave Analysis
Perfectly as we forecasted in the previous day’s webinar, the cable went below 1.2638 and is still pretty much below this level. As we mentioned in our previous forecast, as long as the price remains below this support level, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (5) and should first retrace towards the just broken level before a steep decline further to is seen. If you’re not short already, wait for this pullback towards 1.2683 to pick a sell order.
Trade Recommendations:
Place a pending sell limit order at 1.2683 with your stop loss above 1.28783.
Origin: FreshForex
