Don't know if anyone followed this, but this hit an area just about as well as you could hope for.
JI
jimkane
Rep: 3,058
Posts: 33,089
Oh, you know I'm watching that. Now add on a trendline from the mid-Jan high to the early Feb high. Very interesting. If it doesn't turn down here, watch out.
JI
jimkane
Rep: 3,058
Posts: 33,089
Looking good. Bullish 'wave 2' ABCD here at this line covergence, or 'wave 3' down off that upper // reversal area? Now we see. Notice the Euro, too, sitting on those key lows, day after day after day...
MR
mreiserer
Rep: 110
Posts: 2,220
I find this a fascinating example. Reacts off the 786 ABCD (wave 1?), now a potential DT ABCD, curling around the upper //.Usually I see this as a sign of stength signaling an impending breakout.Could this be Wave 2?
I know they say trade what you see, but do I really think cable has the strength to make a run here? I also note the DT ABCD in the AB leg here. Usually a red flag, however in currencies ABCDs frequently look like abortions.
Or is this Wave 3 down off the 786 abcd. If the expectation that the reaction off the large ABCD would eclipse the current bottom then this would have to be an extreme Wave 3, hence I doubt that scenario. Maybe a Wave 1?
Posting two charts, one close up, one zoomed out.
I know they say trade what you see, but do I really think cable has the strength to make a run here? I also note the DT ABCD in the AB leg here. Usually a red flag, however in currencies ABCDs frequently look like abortions.
Or is this Wave 3 down off the 786 abcd. If the expectation that the reaction off the large ABCD would eclipse the current bottom then this would have to be an extreme Wave 3, hence I doubt that scenario. Maybe a Wave 1?
Posting two charts, one close up, one zoomed out.
MR
mreiserer
Rep: 110
Posts: 2,220
anyone been watching this?
I was so ready to trade this as wave 2 and it triggered...at 3am...sound asleep....
Maybe it's not a Wave 2 and just a retest of that big upper line.
I find this a real weakness in my trading, to convince myself to get in at a later point after I have missed the PTA. Something to focus on.
I was so ready to trade this as wave 2 and it triggered...at 3am...sound asleep....
Maybe it's not a Wave 2 and just a retest of that big upper line.
I find this a real weakness in my trading, to convince myself to get in at a later point after I have missed the PTA. Something to focus on.



