The chart shows my working count for cable. I think that there is a good chance today’s rise to be the beginning of wave 3 up for a move above 2.04. With an eye on this idea I exited the previous short position earlier today and turned long. A rise above 1.9848 will be a confirmation for my idea. A key support is today’s low 1.9702

Trading strategy: 11:00 EST; 16:00 GMT

Long position from 1.9760, stop loss - 1.9700, target - open

Confidence level – changed from medium to high

Trading strategy: 09:54 EST; 14:54 GMT

Short position from 1.9771

Exit the short position at market (1.9760) with profit 11 pips

Buy at market (1.9760), stop loss - 1.9700, target - open

Confidence level – medium

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.