04-Hour Chart
(CLICK ON THE CHART TO ENLARGE IT)As I posted one week ago the Cable was forming a Diamond Bottom on dailies. This pattern seems to be confirmed after the break of the right side of this diamond last friday Feb 22th. Daily indicators also favour the bullish.
But at the 4-hour chart the Shooting Star last friday Feb 22th at the top of a 350-pip bullish move and at the upper trendline of a bearish channel favour a bearish correction, as well as the indicators. So watch out before trying to ride this "possible" major new bullish trend.
It´s hard to say where to ride this bullish trend. Last week I did three attempts to ride it, all unsuccessfull (wrong stops or wrong entry points). So being conservative my points are:
## BUY break 1.9710 with STOP 1.9685 and let the profits run. Move your STOP as soon as the 1.9740 gets broken.
## BUY a dip at the right line of the diamond that might be around 1.9575 (38% fibo last major up move 1.9358 to 1.9708)
