Consolidation on the Cable
The cable is heading into today's (Tuesday) Asian session sideways. There is a triangle pattern that has formed as prices are trading around the 1.4050 psychological level.
I have to mention that as I am still getting better from being pretty sick over the last week and am slowly venturing back into active, intraday trading with mainly the 15 minute time frame. I prefer to use this time frame when I am not feeling well since 15 minute trades typically have a shorter lifespan.

The market cycle is confirming that the triangle is a viable pattern for the current environment and so I will look to play a breakout/breakdown going into the Tokyo session it it triggers.

Keep an eye on the MACD Histogram for confirmation of the move!
p.s. the PDF for the Chartology blog is still being edited and while it's taking me a bit longer than expected, it will be here soon!
Related Posts:
- Follow up on my JPY/USD play 15:25 24 February 2009
- EUR/JPY Set Up for Asian Session 18:35 03 September 2009
- Will the USD/JPY Break 100.00? 11:32 09 March 2009
- Watchin' the Aussie and Kiwi... 17:54 28 July 2009
- USD/CAD Breakout Reaches Psychological Level Ceiling 19:51 24 September 2009
Forex Blog: Chartology

