The chart shows my working count fro cable. I think that the whole movement started from 2.0396 (14 March) has probably ended 1.9452 (19 May) with a triangle. I think that this fall is wave B and in such a case I would expect a rise above 2.0396 in wave C. That’s why I think that the long positions from here could have a very good upside potential. A key support is 1.9540 which is a little below 61.8 % retracement of the rise started from 1.9452. A resistance level is the high 1.9717 and a break above it will signal an acceleration of the up-move
Trading strategy: 11:21 EST; 16:21 GMT
Long position from 1.9620, stop loss - 1.9540, target - open
Confidence level – high
This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.