Quote:
Originally Posted by mike6nov
On Cable, it looks like we have an inside bar forming now on the 30 minute chart. Plus it's right on the daily pivot R2 and the lower channel trend line. What do you think?
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I did not see what you were watching. Here's what I watched from the European open on the Cable. IB formed on the 30min, looking for a break of 1.9934 for a short entry. Continued down through yesterday's low at 1.9881.
Came back to test up on the BOE rate announcement. IB formed again looking for a break at 1.9885 or a break of yesterday's low again at 1.9881.
Exit signal according to this system comes on an oversold condition, stochastics crossing to the upside in this case and price forming an IB. Exit at 1.9827. +102 pips.
I continue to like the higher time frames to eliminate some of the "noise".