- Initial short in cable at 1.5704, medium sized only while waiting for downside momentum to gather.
- I really should have this trade in much bigger size given its attractive technical potential.
- Since breaking the 1.5705 chart-point on 04Feb10, we have now spent 8 trading sessions consolidating sideways roughly around 1.5700/1.5550 (see daily chart).
- Technicals clearly favor eventual downside break. This is a chart that warrants a big position, at the right time.
- Work GTC sell stop-in below 1.5579 = support line on daily chart. If more conservative, sell stop-in below recent low at 1.5533.
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