The Cable stopped at 1.5023 exactly at intersection of two key lines from weekly/daily timeframe,
That might be it for a couple of days, but I wouldn't exclude further move down to about 1.1460-70, so as to hit obvious SL, before some correction.
I'm looking at 1.5140 and 1.5220-40 levels as interim AOCs for bearish correction.
JI
jimkane
Rep: 3,058
Posts: 33,089
I can't get over the big movements in smooth trends. Total nirvana for trend trading KT style play, in my opinion. My higher area from yesterday was 85 (center of area), and it topped at 87.25. My area was defined by the intraday action. It took into the overnight, so go up in timeframe and you'll see exactly why it went to the very high end of that area. And the principal that sent it there was the same one, from an even higher timeframe, that stopped it at the low, right around the European close. These machines are too funny. And there is a symmetry with regards to the European open that is just so... machine. Goofy, goofy machines...
MA
MarcinO
Rep: 67
Posts: 5,506
The Pound moves in overlapping swings, but this one is gonna take it to 35, I guess.
RA
rat89
Rep: 0
Posts: 7,015
"the pound moves in mysterious ways..." to paraphrase the U2 song...
Originally posted by MarcinO
The Pound moves in overlapping swings, but this one is gonna take it to 35, I guess.
JI
jimkane
Rep: 3,058
Posts: 33,089
Well look at that. A bearish ABCD with a burst up to suck them in, then just crush them. Very skillfully done. Even I thought they'd likely run it up off there.
MA
MarcinO
Rep: 67
Posts: 5,506
Still, it's even better than the Euro...
Originally posted by rat89
"the pound moves in mysterious ways..." to paraphrase the U2 song...
Originally posted by MarcinO
The Pound moves in overlapping swings, but this one is gonna take it to 35, I guess.
JI
jimkane
Rep: 3,058
Posts: 33,089
I actually logged back in to make one more post. Look at how the ES finished in the little after futures Friday session! Another dump down, closing just off the new LOD, which was set at 2011.50! Sure, 'they' may come in like gangbusters on Sunday, but wow, is this weak. That change in tenor I got, it was no joke. I am so glad I posted that when I sensed it. I think the 1950's might be next.




