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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Monday 15 February 2010

Cable - bear flag ?


Cable appears to be forming a bear flag consolidation below the broken support levels.I have divided the range into eigths.The 3/8 and 5/8 support/resistance levels coincide closely with the 0.382 and 0.618 levels Fibonacci analysts use,(1/2 and 0.5 obviously being the same).In Gann analysis all 8 levels can be used but 3/8,1/2 and 5/8 are most important.(3/8-5/8 is considered to be the range where a market will normally find equilibrium in a retracement move) 3/4 and 0.786 fib level are also close.

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