Cable breaking out of range and closed the week above prior high suggest the move up is not done yet.
How high can cable go before a recovery / continuation down?
1.3000 Why? Because its the yearly central pivot point and look left its also a gap where price accelerated lower.
The conservative target is around 1.2550. The more aggressive target is back to range low around 1.22 - 1.20
Tactical traders can buy the move into 1.30 ofcourse. But its not the ideal long in terms of asymmetric risk/reward.
How high can cable go before a recovery / continuation down?
1.3000 Why? Because its the yearly central pivot point and look left its also a gap where price accelerated lower.
The conservative target is around 1.2550. The more aggressive target is back to range low around 1.22 - 1.20
Tactical traders can buy the move into 1.30 ofcourse. But its not the ideal long in terms of asymmetric risk/reward.