WoW just got weaned myself off of one of those Krazy forex forums. I feel a little dirty. Gotta get back to basics. Whew!!

Hey Jim, I know that you do not trade FOREX, but Cable really loves your numbers and patterns, reminds me of the Russell of old!!

How funny, I just updated my cable chart. It used to be my favorite when I traded FX. Actually, even though I may not trade cash FX anymore, if I want to trade a currency I'd just trade the more regulated futures market. Currencies are very high up my list for favorite trading issues. And nowadays, I think trading FX through IB is relatively acceptable. At least they don't trade against you and do fake stop guns when price never traded anywhere near that area. As far as the KT methodology, I think it applies quite well to the currencies.

Will we re-test bottom tomorrow? With a little help from NFP?

The PA does not look Bearish.

Possible 4PCP

Yes, D, and it could be set up to take out that primo ABCD, which is a big pattern. What would be cool is if it ran to the 1.272 off this pattern here, to go to the key .382 and the 1.128 ABCD, where my best line sits, basis the futures. My area Fib is around 1.5670-90, and the line is lower but upsloping, so it depends on how long it takes to get there. A quick move to the line at the 1.272 ABCD and 1.618 of this pattern here would be around 1.5540, and the key .447 is at 1.5456. Let's see what it does.

But be alert that this may be a W2 EXP here, too, to start a W3 of 3, and up it goes off the big ABCD.

I am long, got the signal, took the shot. As a great trader one said, "Its like poker..." 1.272 Would be a better signal, does not look overwhelmingly bullish.

Since this is FX related, I guess I'll post it here. Did everyone see the 'flash crash' in cable this AM at 2:56? Look on a 1-min. That's spooky, it is even starting to happen in FX now. Notice the rebound right afterwords, kind of the mark of the 'flash crash'. Here's an article on it:

http://www.zerohedge.com/article/dutch-bank-algo-blamed-gbp-flash-crash